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

    8515 Main St, Unit COMM2 Jamaica, NY 11435-1879

    • Retail space
    • 4,462 SF
    • 0.77 lot acres
    OFF-MARKET
    Last Sale
    Aug 02, 2024
    $1,800,000
    Value Estimations
    $1,730,000
    Show details
    Cap Rate Potential
    4.4%
    Retail space
    Location Intelligence
    Property ID
    US63-2682178
    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

    • Domnitch Harold / Attorney
    • Greenbriar Apartment Co / Apartment Building / Real Estate Agency
    • Fritts Robert C / Doctor / Professional Services
    • Briarwood Rx Pharmacy / Pharmacy
    • Lily White Laundromat Inc / Laundromat

    Property Details for 8515 Main St

    Year built
    1959
    Lot size
    0.77 lot acres
    Property size
    4,462 SF
    Zone code
    R6A
    Property type
    Retail space
    APN
    09651-1002
    APU
    96511002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,800,000
      ML approach
      $1,800,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,325,000
      6.5%
      $1,225,000
      7%
      $1,140,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,823,000
      Market price range: $1.09M - $3.12M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,920,000
      Current use
      WAREHOUSE, STORAGE
      $1,990,000
      Change: +4% Conversion: Difficult
      OFFICE BUILDING
      $1,650,000
      Change: -14% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,605,000
      Change: -16% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Jamaica
    County
    Queens
    State
    New York
    Longitude
    -73.8187
    Latitude
    40.7096
    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
    $43,604
    $21,591
    $399,668
    $421,259
    -
    $47,980
    $888,152
    $936,132

    Comparable in this City

    • Value Estimation
      $280,000
      1,100 SF

      14604 Jamaica Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,100 SF
      14604 Jamaica Ave, Jamaica, NY 11435-3628
      View Details
    • Value Estimation
      $400,000
      12,255 SF

      11205 Sutphin Blvd

      RETAIL STORES (PERSONAL SERVICES) • 12,255 SF
      11205 Sutphin Blvd, Jamaica, NY 11435-5830
      View Details
    • Value Estimation
      $315,000
      850 SF

      13933 89th Ave

      RETAIL STORES (PERSONAL SERVICES) • 850 SF
      13933 89th Ave, Jamaica, NY 11435-3225
      View Details
    • Value Estimation
      $14,790,000
      17,175 SF

      13823 Queens Blvd

      RETAIL STORES (PERSONAL SERVICES) • 17,175 SF
      13823 Queens Blvd, Jamaica, NY 11435
      View Details
    • Value Estimation
      $430,000
      2,356 SF

      8760 Sutphin Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,356 SF
      8760 Sutphin Blvd, Jamaica, NY 11435-3342
      View Details
    • Value Estimation
      $430,000
      4,300 SF

      11010 Sutphin Blvd

      RETAIL STORES (PERSONAL SERVICES) • 4,300 SF
      11010 Sutphin Blvd, Jamaica, NY 11435-5716
      View Details

    Similar Nearby for Sale

    • $3,500,000

      Prime Jamaica Retail and Land

      Commercial retail space and vacant land in Jamaica, Queens.
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      Jamaica, Queens Commercial Investment Opportunity

      Four-unit commercial property in Jamaica, Queens with high cap rate.
      13920 109Th Ave, Jamaica, NY 11435
      View Details
    • $40,000
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      Jamaica, NY Car Service Opportunity

      Car service business for sale with one-year lease in Jamaica.
      14404 Liberty Ave, Jamaica, NY 11435
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    • $11,300,000

      Queens Commercial Land - Huge Potential

      Jamaica, NY: 14,050 SF, Dual Frontage
      97-15 Sutphin Blvd, Queens, NY 11435
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    Similar Nearby for Lease

    • $5,000 /Mo

      Retail Space in New York

      Retail space available for lease in New York, NY.
      129-32A Merrick Rd, Jamaica, NY 11435
      View Details
    • $65 SF/Yr
      6,081 SF

      Retail Spaces Available For Lease

      Retail spaces with food and beverage venting available for lease.
      8836 139Th St, Jamaica, NY 11435
      View Details
    • Contact for pricing
      3,175 SF

      Jamaica Retail Space Available

      Retail space available for lease in Jamaica, New York.
      9031-9039 Sutphin Blvd, Jamaica, NY 11435
      View Details
    • $492,115
      17,250 SF

      Jamaica Retail Space For Lease

      Prime retail space in new luxury development, high-traffic area.
      14818 Hillside Ave, Jamaica, NY 11435
      View Details
    • Contact for pricing
      1,000 SF

      Retail Space on Sutphin Blvd

      1,000 SF retail space with new storefront available for rent.
      94-15 Sutphin Blvd, Jamaica, NY 11435
      View Details
    • Contact for pricing
      17,000 SF

      High-Traffic Retail Space Available

      Retail space near Sutphin Blvd Transportation Hub with high ceilings.
      8918-8936 Sutphin Blvd, Jamaica, NY 11435
      View Details
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    8515 Main St, Unit COMM2
    Jamaica, NY 11435-1879
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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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