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    85-05 Jamaica Ave Queens, NY 11421
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    85-05 Jamaica Ave Queens, NY 11421

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    • Retail properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 85-05 Jamaica Ave

    Year built
    1931
    Property type
    Retail properties & Spaces
    Property subtype
    Mixed-use properties

    Description

    This exceptional mixed-use property at 85-05 Jamaica Avenue in Queens, New York, presents a compelling investment opportunity. The building, constructed in 1931, features a 3,100 square foot net rentable area spread across two stories. The property includes a ground-floor storefront ideally suited for retail use, currently configured as a grocery store, offering high visibility and significant foot traffic due to its prime location on Jamaica Avenue. Above the retail space are two residential units, providing an additional income stream. The property sits on a 2,035 square foot lot and is zoned R6A, offering potential for future development. The current Net Operating Income (NOI) is $94,836, resulting in a 6.00% capitalization rate. Pro forma projections indicate a 7.50% capitalization rate, showcasing significant upside potential. This is a rare opportunity to acquire a mixed-use property in a high-traffic area with strong potential for both retail and residential income. The property's proximity to the J/Z train station at 85th Street further enhances its appeal and accessibility. This investment offers a unique blend of immediate income generation and long-term growth prospects. The asking price is $1,580,000.

    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
    -73.8588
    Latitude
    40.6927

    Comparable in this City

    • Value Estimation by Request
      1,120 SF

      8429 Jamaica Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,120 SF
      8429 Jamaica Ave, Jamaica, NY 11421-1921
      View Details
    • Value Estimation by Request
      1,700 SF

      8914 Jamaica Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,700 SF
      8914 Jamaica Ave, Jamaica, NY 11421
      View Details
    • Value Estimation
      $1,560,000
      6,320 SF

      8023 Jamaica Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,320 SF
      8023 Jamaica Ave, Jamaica, NY 11421
      View Details
    • Value Estimation
      $1,775,000
      6,880 SF

      8512 Jamaica Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,880 SF
      8512 Jamaica Ave, Jamaica, NY 11421
      View Details
    • Value Estimation by Request
      1,378 SF

      7801 Jamaica Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,378 SF
      7801 Jamaica Ave, Jamaica, NY 11421-1855
      View Details
    • Value Estimation
      $1,725,000
      10,000 SF

      7416 Jamaica Ave

      RETAIL STORES (PERSONAL SERVICES) • 10,000 SF
      7416 Jamaica Ave, Jamaica, NY 11421-1846
      View Details

    Similar Nearby for Sale

    • $1,300,000
      2,000 SF

      Mixed-Use Property with Vacant Units

      Mixed-use property featuring vacant apartments and retail stores.
      87-02 91St Ave, Woodhaven, NY 11421
      View Details
    • $1,399,000
      0.04 Acres

      Mixed-Use Property in Woodhaven, NY

      Two apartments and a storefront near transportation and shopping.
      80-29 Jamaica Ave, Woodhaven, NY 11421
      View Details
    • $1,570,000
      300 SF

      Woodhaven Mixed-Use Investment Opportunity

      Mixed-use property with commercial space and residential units in Woodhaven.
      8444 Jamaica Ave, Woodhaven, NY 11421
      View Details
    • $1,580,000

      Mixed-Use Property on Jamaica Avenue

      Mixed-use property with retail storefront and two apartments.
      85-05 Jamaica Ave, Queens, NY 11421
      View Details
    • Contact for pricing
      Pending

      Corner Mixed-Use Property For Sale

      Income-producing mixed-use property on Woodhaven Blvd, close to transportation.
      89-50 Woodhaven Blvd, Woodhaven, NY 11421
      View Details
    • $789,000
      Pending

      Mixed-Use Building on Jamaica Avenue

      Mixed-use building with commercial storefront and residential unit in Jamaica.
      9703 Jamaica Ave, Jamaica, NY 11421
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,000 SF

      Jamaica Avenue Retail Space

      3,000 SF retail space available for rent.
      84-04 Jamaica Ave, Woodhaven, NY 11421
      View Details
    • $28 SF/Yr
      19,800 SF

      Prime Warehouse Near JFK Airport

      Warehouse space with excellent signage and proximity to JFK Airport.
      152-15 Rockaway Blvd, Jamaica, NY 11421
      View Details
    • Contact for pricing
      1,100 SF

      Medical/Professional Office Space Available

      Centrally located Jamaica Avenue office space suitable for various businesses.
      8701-8705 Jamaica Ave, Woodhaven, NY 11421
      View Details
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    Queens, NY 11421
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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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