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    207-02 Jamaica Ave Queens, NY 11428
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    207-02 Jamaica Ave, Queens, NY 11428

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    • Warehouses
    • 1,800 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 207-02 Jamaica Ave

    Year built
    1924
    Property type
    Warehouses
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional Queens Village investment opportunity presents a 1,800 square foot, single-story auto shop and warehouse on a substantial 10,044 square foot lot. Currently 100% occupied by a Meineke franchise operating under a month-to-month NNN lease at $7,200 per month ($86,400 annually), the tenant is open to extending this arrangement or signing a new 5-year NNN lease at $9,250 per month ($111,000 annually). The property boasts a prime location on the Jamaica Avenue commercial corridor, within one block of a major bus stop (Q77 and Q110 lines). Built in 1924, the building features three bays and is situated on a 100ft x 106ft lot, offering significant potential for redevelopment or owner-user occupancy. The C8-1 zoning allows for a variety of uses. This property is ideal for investors, developers, or owner-users seeking a strong return in a thriving Queens market with robust and growing commercial rents. The property includes 1,800 square feet of building space and an additional 8,244 square feet of land. This presents a unique opportunity to acquire a well-located asset with immediate income potential and significant upside. The property is zoned C8-1 (Block: 10835 Lot: 0021).

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Queens
    County
    Queens
    State
    New York
    Longitude
    -73.7527
    Latitude
    40.7139

    Comparable in this City

    • Value Estimation by Request
      72,879 SF

      222-25 Jamaica Ave

      Industrial properties
      222-25 Jamaica Ave, Queens, NY 11428
      View Details
    • Value Estimation
      $640,000
      1,460 SF

      21008 Jamaica Ave

      AUTO REPAIR, GARAGE
      21008 Jamaica Ave, Jamaica, NY 11428-1550
      View Details
    • Value Estimation by Request
      4,845 SF

      21114 Jamaica Ave

      AUTO REPAIR, GARAGE
      21114 Jamaica Ave, Jamaica, NY 11428
      View Details
    • Value Estimation by Request
      1,540 SF

      23515 Braddock Ave

      AUTO REPAIR, GARAGE
      23515 Braddock Ave, Jamaica, NY 11428-1439
      View Details
    • Value Estimation
      $965,000
      15,290 SF

      21010 Jamaica Ave

      AUTO REPAIR, GARAGE
      21010 Jamaica Ave, Jamaica, NY 11428-1550
      View Details
    • Value Estimation by Request
      1,632 SF

      20620 Jamaica Ave

      AUTO REPAIR, GARAGE
      20620 Jamaica Ave, Jamaica, NY 11428-1543
      View Details

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    Queens, NY 11428
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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