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    22011 Hempstead Ave Jamaica, NY 11429-2118
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    Property profile & analytics

    22011 Hempstead Ave, Jamaica, NY 11429-2118

    View on Map
    • Retail residential properties
    • 2,750 SF
    • 0.05 lot acres
    Off-Market
    Last Sale Mar 12, 2020
    $500,000
    Property ID
    US63-2129619
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $535,000
    Show details
    Cap Rate Potential
    6.3%
    Retail residential properties
    Location Intelligence

    Current Use by Public Records

    • Retail residential properties

    Property Details for 22011 Hempstead Ave

    Year built
    1931
    Lot size
    0.05 lot acres
    Zone code
    R3-2
    Property type
    Retail residential properties
    APN
    10775-0045
    APU
    107750045

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 12, 2020 $500,000 Ariff M Shareef Ziza Realty Corp Grant Deed $335k · Flushing Bk
    May 7, 1996 — Ziza Realty Corp Baksh,imran Grant Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $565,000
      ML approach
      $575,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $590,000
      6.5%
      $545,000
      7%
      $505,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $369,000
      Market price range: $285k - $370k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $855,000
      Current use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Jamaica
    County
    Queens
    State
    New York
    Longitude
    -73.7339
    Latitude
    40.7131
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $15,443
    $45,000
    $106,200
    $151,200
    -
    $100,000
    $236,000
    $336,000

    Comparable in this City

    • Value Estimation by Request
      2,400 SF

      21880 Hempstead Ave

      STORES & APARTMENTS
      21880 Hempstead Ave, Jamaica, NY 11429-2166
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      2,340 SF

      10973 Francis Lewis Blvd

      STORES & APARTMENTS
      10973 Francis Lewis Blvd, Queens Village, NY 11429-1758
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    • Value Estimation by Request
      2,242 SF

      10730 Springfield Blvd

      STORES & APARTMENTS
      10730 Springfield Blvd, Queens Village, NY 11429-2008
      View Details
    • Value Estimation
      $5,235,000
      27,797 SF

      11305 Springfield Blvd

      STORES & APARTMENTS
      11305 Springfield Blvd, Queens Village, NY 11429-2631
      View Details
    • Value Estimation by Request
      2,242 SF

      10734 Springfield Blvd

      STORES & APARTMENTS
      10734 Springfield Blvd, Jamaica, NY 11429-2008
      View Details
    • Value Estimation by Request
      2,700 SF

      11361 Springfield Blvd

      STORES & APARTMENTS
      11361 Springfield Blvd, Jamaica, NY 11429-2637
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Mixed-Use Building Investment Opportunity

      Mixed-use building with retail space and two apartments for sale.
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      View Details
    • $1,500,000
      1,440 SF

      Renovated Legal 4-Family House

      Mint condition, fully rented 4-family house in Queens Village.
      99-02 212Th St, Queens Village, NY 11429
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    • New
      $1,375,000
      1,700 SF

      Renovated Two-Family Home in Queens

      Well-maintained, renovated two-family home with income potential in Queens Village.
      21830 110Th Ave, Queens Village, NY 11429
      View Details
    • New
      $825,000
      0.09 Acres

      Legal Two-Family Cape Cod Home

      Updated two-family Cape Cod with private entrances, a finished basement, and modern mechanicals for flexible living or income.
      225-20 108Th Ave, Queens Village, NY 11429
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    Similar Nearby for Lease

    • Contact for pricing
      13,193 SF

      Queens Village Retail Space Available

      Retail space available in Queens Village, near transportation.
      11237 Springfield Blvd, Queens Village, NY 11429
      View Details
    • $4,400 /Mo
      1,951 SF

      Renovated Commercial Space with Backyard

      Renovated commercial space in Queens Village with backyard access.
      219-05 Hempstead Ave, Queens Village, NY 11429
      View Details
    • Contact for pricing
      3,400 SF

      Queens Village Office Space Available

      Office space for rent near transportation and amenities.
      22230-22240 96Th Ave, Queens Village, NY 11429
      View Details
    • Contact for pricing
      5,800 SF

      Retail Space with High Ceilings

      Retail space available in prime corner location with private parking.
      21825 Hempstead Ave, Queens Village, NY 11429
      View Details
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    Jamaica, NY 11429-2118
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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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