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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    8502 Rockaway Blvd Jamaica, NY 11416

    • Investment properties
    • 2,620 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    Jan 08, 2024
    $840,000
    Value Estimations
    $840,000
    Show details
    Cap Rate Potential
    4%
    Investment properties
    Location Intelligence
    Property ID
    US63-5998443
    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

    • Investment properties

    Property Details for 8502 Rockaway Blvd

    Year built
    1920
    Lot size
    0.06 lot acres
    Property size
    2,620 SF
    Zone code
    R6B
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    09056-0001
    APU
    90560001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $840,000
      ML approach
      $840,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $560,000
      6.5%
      $520,000
      7%
      $480,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $584,000
      Market price range: $584k - $987k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $840,000
      Current use
      WAREHOUSE, STORAGE
      $1,170,000
      Change: +39% Conversion: Difficult
      RETAIL STORES
      $1,125,000
      Change: +34% Conversion: Easy
      OFFICE BUILDING
      $970,000
      Change: +15% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Jamaica
    County
    Queens
    State
    New York
    Longitude
    -73.855
    Latitude
    40.6835
    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
    $7,546
    $14,040
    $39,300
    $53,340
    -
    $234,000
    $655,000
    $889,000

    Comparable in this City

    • Value Estimation by Request
      2,800 SF

      10118 101st Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,800 SF
      10118 101st Ave, Jamaica, NY 11416-2611
      View Details
    • Value Estimation
      $580,000
      3,050 SF

      9510 101st Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,050 SF
      9510 101st Ave, Jamaica, NY 11416-2518
      View Details
    • Value Estimation by Request
      2,120 SF

      8003 97th Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,120 SF
      8003 97th Ave, Jamaica, NY 11416-1133
      View Details
    • Value Estimation
      $705,000
      3,520 SF

      8720 101st Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,520 SF
      8720 101st Ave, Jamaica, NY 11416
      View Details
    • Value Estimation
      $1,455,000
      7,670 SF

      10107 101st Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 7,670 SF
      10107 101st Ave, Jamaica, NY 11416-2612
      View Details
    • Value Estimation by Request
      2,320 SF

      7517 101st Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,320 SF
      7517 101st Ave, Jamaica, NY 11416-1028
      View Details

    Similar Nearby for Sale

    • $4,500,000
      15,735 SF

      Mixed-Use Property in Ozone Park

      Mixed-use property featuring retail and residential units in Ozone Park.
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    • $4,500,000

      Mixed-Use Property in Queens

      Mixed-use property featuring retail and residential units in Queens.
      89-12/14/16 101 Ave, Queens, NY 11416
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    • $1,099,000
      0.05 Acres

      Mixed-Use Building in Ozone Park

      Well-maintained mixed-use property with commercial and residential units in Queens.
      100-08 101St Ave, Ozone Park, NY 11416
      View Details
    • $799,000

      Ozone Park Two-Family Property

      Two-family property in Ozone Park with income and equity potential.
      10113 84Th St, Ozone Park, NY 11416
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    • $1,495,000
      3,828 SF

      Ozone Park Triplex Near Subway

      Three-family home near transportation, delivered vacant if needed.
      10105 81St St, Ozone Park, NY 11416
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    • $999,000
      2,040 SF

      Ozone Park Mixed-Use Investment

      Mixed-use property with commercial and residential units in Ozone Park.
      10208 101St Ave, Ozone Park, NY 11416
      View Details

    Similar Nearby for Lease

    • $15,000 /Mo
      13,000 SF

      Jamaica Warehouse Space For Rent

      13,000 sqft warehouse space available for rent in Jamaica.
      101-20 101St St, Jamaica, NY 11416
      View Details
    • $3,500 /Mo

      Ozon Park Commercial Space Available

      Street-level commercial space in the heart of Ozon Park.
      97-03 101 Ave St, Queens, NY 11416
      View Details
    • Contact for pricing
      5,068 SF

      Retail Space in Ozone Park

      Grocery anchored shopping center with parking and high traffic.
      92-10 Atlantic Ave, Ozone Park, NY 11416
      View Details
    • Contact for pricing
      3,500 SF

      Ozone Park Warehouse with Office

      Warehouse with mezzanine office and drive-in doors for lease.
      103-12 100Th St, Ozone Park, NY 11416
      View Details
    • Contact for pricing
      40,000 SF

      Ozone Park Office Space

      40000 SF office space available for rent.
      10148 95Th St, Ozone Park, NY 11416
      View Details
    • Contact for pricing
      7,800 SF

      Retail Space with Dedicated Parking

      Retail space with high traffic and dedicated parking available for rent.
      10202-10234 Atlantic Ave, Ozone Park, NY 11416
      View Details
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    8502 Rockaway Blvd
    Jamaica, NY 11416
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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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