Project Description

Mixed-Use Building in Queens Village, NY

208-15 Jamaica Ave, Queens Village, NY 11428

Executive Summary:

Price: $950,000
Building Size: 2,116 SF
Property Type: Retail & Apartment
Lot Size: 0.04 Acres
Year Built: 1931
Cap Rate: 6.00%
NOI: $57,000
Location:
208-15 Jamaica Ave
Queens Village, NY 11428

Can be sold with 208-05 Jamaica Ave, Queens Village, NY as a portfolio.

Investment Highlights

  • Fully Occupied Retail Unit & 3 Bedroom Residential Unit Above
  • Strong Traffic Count – 22,200 VPD
  • Close Proximity to Highways, Train Stations, & Bus Lines
  • Surrounded by Other Neighborhood Retail & Religious Institutions
  • Prime Location on Jamaica Ave
  • Apartment Tenants Are Paying Under Market Rent
  • Great Potential For Higher Rental Income

Investment Summary

American Investment Properties is exclusively retained to sell 208-15 Jamaica Ave, Queens Village. At this location is a 2,116 SF fully occupied mixed-use building. It consists of (1) retail unit & a (1) 3 bedroom apartment.

The apartment tenants are currently paying under market rent. This is a great opportunity for higher potential rents.

This building is situated in a prime location on Jamaica Ave, on a corridor of retail storefronts and some national credit tenants including a Pep Boys and Popeyes. The Q110 line and Q77 bus line is close to the property which connects to Downtown Jamaica Train Station Hub, and Hempstead Train Station.

About Queens Village, NY

Queens Village is a mostly residential middle-class neighborhood in the eastern part of the New York City borough of Queens. It is bound by Hollis to the west, Cambria Heights to the south, Bellerose to the east, and Oakland Gardens to the north.

Shopping in the community is located along Braddock Avenue, Hillside Avenue, Hempstead Avenue, and Jamaica Avenue (NY 25), as well as on Springfield Boulevard. Located just east of Queens Village, in Nassau County, is the Belmont Park race track.

Close to the neighborhood are Cunningham Park and Alley Pond Park, as well as the historic Long Island Motor Parkway (LIMP), home of the turn of the century racing competition, the Vanderbilt Cup. The LIMP was built by William Kissam Vanderbilt, a descendant of the family that presided over the New York Central Railroad and Western Union; it is now part of the Brooklyn-Queens Greenway.

Contact Broker

Ron Koenigsberg - Commercial Real Estate BrokerRon Koenigsberg, CCIM
President
Ron@aiprops.com
(O) 516.393.2300
(F) 516.390.5780

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