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    8818 Jamaica Ave Jamaica, NY 11421-2038
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    Property profile & analytics

    8818 Jamaica Ave, Jamaica, NY 11421-2038

    View on Map
    • Investment properties
    • 3,780 SF
    • 0.05 lot acres
    Off-Market
    Last Sale May 27, 2025
    $930,000
    Property ID
    US63-2592926
    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
    $855,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Investment properties

    Property Details for 8818 Jamaica Ave

    Year built
    1931
    Lot size
    0.05 lot acres
    Zone code
    R6A
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    08927-0006
    APU
    89270006

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 27, 2025 $930,000 Prospes Two LLC Referee Dennis S Cappello Esq Deed —
    Sep 7, 2022 — 8818 Jamaica INC. 88-18 Jamaica Avenue Realty Corp. Deed —
    Dec 8, 2010 $695,000 88-18 Jamaica Avenue Realty Co Zaretsky,elliot & Shirley Grant Deed $350k · K2 Media LLC
    Jan 12, 2004 — Elliot Zaretsky Zaretsky,elliot & Shirley Quit Claim Deed · related —

    Description

    This exceptional mixed-use property in Woodhaven, NY presents a lucrative investment opportunity. Located at 8818 Jamaica Avenue, this building boasts a total of 3,780 square feet situated on a 20.44 x 106.96 foot lot. The ground floor encompasses a thriving restaurant, established in 1996 and currently operating as one of three successful branches in New York City, with dimensions of 20 x 75 feet. The upper floors, measuring 20 x 55 feet, comprise a spacious three-bedroom apartment, offering significant rental income potential. The property benefits from an extremely convenient location, with a bus stop directly in front and proximity to a subway station, ensuring high visibility and accessibility. Annual property taxes are $22,167. This turnkey investment combines the established success of a long-standing restaurant with the added value of a residential rental unit, making it an ideal opportunity for both seasoned investors and those seeking a diversified portfolio. The property is being sold via a contract vendee sale. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $810,000
      6.5%
      $750,000
      7%
      $695,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,340,000
      Current use
      OFFICE BUILDING
      $1,400,000
      Change: +4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Jamaica
    County
    Queens
    State
    New York
    Longitude
    -73.8557
    Latitude
    40.6925
    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
    $22,171
    $171,000
    $46,080
    $217,080
    -
    $380,000
    $102,400
    $482,400

    Comparable in this City

    • Value Estimation
      $500,000
      3,240 SF

      9211 Jamaica Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      9211 Jamaica Ave, Jamaica, NY 11421-2108
      View Details
    • Value Estimation
      $550,000
      3,600 SF

      8517 Jamaica Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      8517 Jamaica Ave, Jamaica, NY 11421-1923
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    • Value Estimation by Request
      3,000 SF

      9212 Jamaica Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      9212 Jamaica Ave, Jamaica, NY 11421-2107
      View Details
    • Value Estimation
      $530,000
      3,420 SF

      9215 Jamaica Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      9215 Jamaica Ave, Jamaica, NY 11421-2108
      View Details
    • Value Estimation
      $665,000
      4,457 SF

      9412 Jamaica Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      9412 Jamaica Ave, Jamaica, NY 11421-2221
      View Details
    • Value Estimation by Request
      1,800 SF

      7913 Rockaway Blvd

      OFFICE/RESIDENTIAL (MIXED USE)
      7913 Rockaway Blvd, Jamaica, NY 11421-2928
      View Details

    Similar Nearby for Sale

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      2,000 SF

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      Mixed-use property featuring vacant apartments and retail stores.
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    • $789,000
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      Mixed-Use Building on Jamaica Avenue

      Mixed-use building with commercial storefront and residential unit in Jamaica.
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      13,540 SF

      Retail, Mixed-Use, and Land Package

      Three properties with redevelopment and income-growth potential near transit.
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      3,895 SF

      Retail, Mixed-Use, and Land Package

      Three properties with redevelopment and income-growth potential near transit.
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    • $1,478,888
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      Woodhaven Mixed-Use Building For Sale

      Mixed-use building with store and two apartments in Woodhaven.
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    Similar Nearby for Lease

    • $28 SF/Yr
      19,800 SF

      Prime Warehouse Near JFK Airport

      Warehouse space with excellent signage and proximity to JFK Airport.
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    • New
      $3,900 /Mo

      Retail Storefront for Lease

      Available for lease retail storefront on Rockaway Boulevard in Woodhaven, Queens, well suited for neighborhood-serving concepts.
      76-12 Rockaway Blvd, Woodhaven, NY 11421
      View Details
    • Contact for pricing
      3,000 SF

      Jamaica Avenue Retail Space

      3,000 SF retail space available for rent.
      84-04 Jamaica Ave, Woodhaven, NY 11421
      View Details
    • Contact for pricing
      1,100 SF

      Medical/Professional Office Space Available

      Centrally located Jamaica Avenue office space suitable for various businesses.
      8701-8705 Jamaica Ave, Woodhaven, NY 11421
      View Details
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    Jamaica, NY 11421-2038
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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.

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