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    Property profile & analytics

    7606 Rockaway Blvd Jamaica, NY 11421-2841

    • Investment properties
    • 2,320 SF
    • 0.04 lot acres
    OFF-MARKET
    Last Sale
    Oct 22, 2020
    $845,000
    Value Estimations
    $870,000
    Show details
    Cap Rate Potential
    3.5%
    Investment properties
    Location Intelligence
    Property ID
    US63-5998552
    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.

    Current Use by Public Records

    • MoneyGram / Bank / Credit Union

    Property Details for 7606 Rockaway Blvd

    Year built
    1931
    Lot size
    0.04 lot acres
    Property size
    2,320 SF
    Zone code
    R6B
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    08947-0003
    APU
    89470003

    Description

    This exceptional Woodhaven investment property, located at 7606 Rockaway Blvd, offers a unique blend of commercial and residential income streams. The 2,520 square foot building features a thriving retail storefront currently under a secure three-year lease with a renewal option, providing immediate and consistent rental income. The commercial space benefits from high visibility and foot traffic due to its prime Rockaway Boulevard location. Adding to the investment potential are two residential units, each comprising two bedrooms and one bathroom. Both apartments are currently occupied, generating additional rental revenue. A fully finished basement and a backyard further enhance the property's value and utility. This mixed-use property presents a rare opportunity to acquire a stable, income-producing asset in a desirable location with significant upside potential. The property's strong tenant occupancy and long-term lease agreement offer a secure investment for discerning buyers seeking a diversified portfolio. The combination of commercial and residential income streams provides a robust and resilient investment opportunity in a thriving New York City neighborhood. The property's size and features make it an ideal investment for both seasoned investors and those seeking to diversify their holdings. The existing lease and occupied residential units provide immediate cash flow, minimizing vacancy risk and maximizing return on investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $860,000
      ML approach
      $925,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $629,000
      Market price range: $630k - $1.04M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $820,000
      Current use
      WAREHOUSE, STORAGE
      $1,035,000
      Change: +26% Conversion: Difficult
      RETAIL STORES
      $1,000,000
      Change: +21% Conversion: Easy
      OFFICE BUILDING
      $860,000
      Change: +4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Jamaica
    County
    Queens
    State
    New York
    Longitude
    -73.8639
    Latitude
    40.6854
    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
    $5,923
    $10,380
    $38,520
    $48,900
    -
    $173,000
    $642,000
    $815,000

    Comparable in this City

    • Value Estimation
      $555,000
      3,600 SF

      8819 Jamaica Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,600 SF
      8819 Jamaica Ave, Jamaica, NY 11421-2039
      View Details
    • Value Estimation
      $525,000
      3,402 SF

      9115 Jamaica Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,402 SF
      9115 Jamaica Ave, Jamaica, NY 11421-2106
      View Details
    • Value Estimation
      $595,000
      3,895 SF

      8445 Jamaica Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,895 SF
      8445 Jamaica Ave, Jamaica, NY 11421-1921
      View Details
    • Value Estimation
      $725,000
      4,840 SF

      8901 Jamaica Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4,840 SF
      8901 Jamaica Ave, Jamaica, NY 11421-2041
      View Details
    • Value Estimation by Request
      3,135 SF

      7806 Jamaica Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,135 SF
      7806 Jamaica Ave, Jamaica, NY 11421-1854
      View Details
    • Value Estimation by Request
      2,176 SF

      8620 Woodhaven Blvd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,176 SF
      8620 Woodhaven Blvd, Jamaica, NY 11421-1447
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,895 SF

      Retail, Mixed-Use, and Land Package

      Three properties with redevelopment and income-growth potential near transit.
      8445 Jamaica Ave, Woodhaven, NY 11421
      View Details
    • $1,650,000
      1,860 SF

      Woodhaven Blvd Mixed-Use Investment

      High-return corner property, fully occupied.
      8950 Woodhaven Blvd, Woodhaven, NY 11421
      View Details
    • $1,450,000
      Pending

      Woodhaven Mixed-Use Investment Opportunity

      Mixed-use property with commercial space and two residential units.
      86-09 Jamaica Ave, Woodhaven, NY 11421
      View Details
    • $1,478,888
      3,911 SF

      Woodhaven Mixed-Use Building For Sale

      Mixed-use building with store and two apartments in Woodhaven.
      8711 Jamaica Ave, Woodhaven, NY 11421
      View Details
    • $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
    • $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
      750 SF

      Jamaica Flex/Industrial Space Available

      950 SF flex/industrial space for rent in Jamaica, NY.
      153 Rockaway Blvd, Jamaica, NY 11421
      View Details
    • Contact for pricing
      961 SF

      Jamaica Flex/Industrial Space Available

      Flex/industrial space available for rent in Jamaica, New York.
      167 Rockaway Blvd, Jamaica, NY 11421
      View Details
    • Contact for pricing
      418 SF

      Jamaica Avenue Retail Space Available

      Prime retail space in high-traffic Jamaica Avenue location.
      16501-16503 Jamaica Ave, Jamaica, NY 11421
      View Details
    • Contact for pricing
      72,879 SF

      Jamaica Avenue Mixed-Use Space

      Multi-level commercial space available for lease in Jamaica, NY.
      222-25 Jamaica Ave, Jamaica, NY 11421
      View Details
    • Contact for pricing
      510 SF

      Jamaica Flex/Industrial Space Available

      Flex/Industrial space available for rent in Jamaica, NY.
      168 Rockaway Blvd, Jamaica, NY 11421
      View Details
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    7606 Rockaway Blvd
    Jamaica, NY 11421-2841
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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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