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 214-55 Jamaica Ave
- Property type
- Mixed-use properties
Description
This exceptional mixed-use property in Queens, NY, presents a compelling investment opportunity. The 3,175 square foot building, situated on a 2,333 square foot lot, boasts a strong 8.33% cap rate and a substantial net operating income (NOI) of $124,910. The property features two free-market apartments, a retail store currently under a lease (with the tenant seeking a 10-year renewal contingent on buyer approval), and 2,000 square feet of finished commercial office space. A full basement, half-bath, and kitchen are included. Recent renovations (2023) encompass a new roof, hot water tank, and the installation of four electric meters. The property is zoned R3-2, C1-2, offering flexibility for future use. The asking price is $1,499,000, translating to $472.13 per square foot. Financial highlights include a gross income of $157,000 and a net income of $125,000, delivered 100% occupied. This two-story building at 214-55 Jamaica Avenue, Queens, NY 11428, offers a rare blend of income generation and potential for future appreciation. The property's strong financials, recent renovations, and desirable location make it an attractive investment for both owner-users and passive investors.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.7421
- Latitude
- 40.7171
