Mixed Use Building, 1st Floor Retail & 2 Apartments

SALE$1,250,000 | 106-09 Jamaica Ave, Queens, NY 11418

106-09 Jamaica Ave Richmond HIll,

Mixed Use Building, 1st Floor Retail & 2 Apartments

ASKING $1,200,000

1st Floor Retail/office 1,100 sqft plus basement ( Can Be delivered Vacant

2nd Floor, 3 Bedroom Apartment

3rd Floor 3 Bedroom Apartment

NET INCOME:$90,000

CAP:7.5%

Rental Income: 

Retail ( ) $4,000 ( Can be delivered Vacant)

Apt 2 ( 3 BEd) $2,500

APt 3 ( 3 Bed) $2,500

Gross Income: $9,000

Yearly Income: $108,000

 Expenses:

RE TAx $8,571

Insurance $2,800

Water, $2,100

Heat, $4,200

Total Expenses: $17,700

NET INCOME:$90,000

Property Features

• Property Type: Multifamily
• Investment Type: Stabilized
• Net Rentable (sq ft): 4,500
• Pro-Forma Cap Rate: 7.20%
• NOI: $78,000
• Air Rights (sq ft): 1,622
• Buildings: 1
• Zoning: c2-4
• Broker Co-Op: Yes
• Ownership: 100

• Subtype: Apartment Building
• Class: A
• Cap Rate: 6.24%
• Occupancy: 75%
• Pro-Forma NOI: $90,000
• Units: 3
• Stories: 3
• Lot Size (sq ft): 1,600
• Price/Unit: $416,666.67

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