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Mixed-Use

10718 Jamaica Ave

10718 Jamaica Ave, Queens, NY 11418

Listing Price: $1,500,000

Cap Rate
6.80%
Number of Units
6
Price/Unit
$250,000
Price/Gross SF
$255.89
Gross SF
5,862

Investment Overview

The subject offering is a three story, mixed-use property on the corner of Jamaica Avenue and 108th Street in Richmond Hill (Queens), New York. The property has 32 feet of frontage on Jamaica Avenue and it has over 5,500 square feet of rentable space. This property consists of a vacant 2,432 SF retail store, a second floor with three (2) two-bedroom apartments, and a third floor with two (1) one-bedroom apartments. This building falls in a R6A, C2-4 zoning district what allows a total of 10,566 square feet to be built. The entire building will be delivered vacant. This property is three blocks away from the 104th Street & 111th Street Train Stations (J Train). The J train runs from the Broad Street Manhattan station to Jamaica Center Station connecting you to the LIRR and the Air Train to JFK. This building is a Tax Class 2A which is a very favorable tax class that limits the amount of the building’s taxes that can increase each year and over a period of five years. This is an opportunity to acquire a corner mixed-use property that gives you the freedom to renovate and create maximum cash flow.

Investment Highlights

  • 32 Feet of Frontage
  • Tax Class 2A: $5,588
  • Vacant Building

Exclusively Listed By

Listing Price: $1,500,000

Cap Rate
6.80%
Number of Units
6
Price/Unit
$250,000
Price/Gross SF
$255.89
Gross SF
5,862

Investment Highlights

  • 32 Feet of Frontage
  • Tax Class 2A: $5,588
  • Vacant Building

Investment Overview

The subject offering is a three story, mixed-use property on the corner of Jamaica Avenue and 108th Street in Richmond Hill (Queens), New York. The property has 32 feet of frontage on Jamaica Avenue and it has over 5,500 square feet of rentable space. This property consists of a vacant 2,432 SF retail store, a second floor with three (2) two-bedroom apartments, and a third floor with two (1) one-bedroom apartments. This building falls in a R6A, C2-4 zoning district what allows a total of 10,566 square feet to be built. The entire building will be delivered vacant. This property is three blocks away from the 104th Street & 111th Street Train Stations (J Train). The J train runs from the Broad Street Manhattan station to Jamaica Center Station connecting you to the LIRR and the Air Train to JFK. This building is a Tax Class 2A which is a very favorable tax class that limits the amount of the building’s taxes that can increase each year and over a period of five years. This is an opportunity to acquire a corner mixed-use property that gives you the freedom to renovate and create maximum cash flow.

Exclusively Listed By

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