10124 Jamaica Ave - Apartments FOR SALE


Richmond Hill, NY 11418
$1,670,000 USD
917-444-0967
10124 Jamaica Ave, Richmond Hill, NY for Sale
$1,670,000 USD
Apartments - FOR SALE
1/6
null | Request Cap Rate

10124 Jamaica Ave
Richmond Hill, NY 11418


HIGHLIGHTS

  • The property is fully occupied with one commercial tenant and two residential tenants providing multiple income streams.
  • Prominent hard-corner positioning along Jamaica Avenue offers visibility within an established Queens retail corridor.
  • The ground-floor laundromat provides an established neighborhood service-retail use with a long-standing local customer base.
  • Convenient access to the J subway line and Q56 bus service supports connectivity throughout Queens and Brooklyn.
  • R6A/C2-4 zoning allows a range of retail, service, medical, and community facility uses within the commercial overlay.
  • Mixed-use tenancy creates income diversification across both commercial and residential sectors.

OVERVIEW

101-24 Jamaica Avenue presents the opportunity to acquire a fully leased mixed-use investment property positioned on a prominent corner location along the Jamaica Avenue commercial corridor in Richmond Hill, Queens. The three-story property consists of a ground-floor laundromat and two residential apartments, providing diversified income from both commercial and residential tenancy. The asset is currently 100% occupied and generates income from three separate rental streams, including one apartment leased through the Section 8 program and a second apartment leased at market rent. The property's corner positioning along Jamaica Avenue provides visibility within an established neighborhood retail corridor that serves the surrounding residential population. Public transportation access is available via the nearby 104th Street and Woodhaven Boulevard J subway stations, with the Q56 bus route operating along Jamaica Avenue. The location also offers connectivity to Jamaica Center, the Long Island Rail Road network, Atlantic Avenue, and Forest Park. From an investment perspective, the property benefits from existing cash flow, mixed-use tenancy diversification, and R6A/C2-4 zoning, which permits a variety of retail, service, medical, and community facility uses within the commercial overlay. The combination of a stabilized commercial tenant, residential occupancy, and established neighborhood location positions the asset as a potential option for private investors and 1031 exchange buyers seeking income-producing real estate in Queens.

FOR SALE DETAILS

PRICE

$1,670,000 USD

PRICE/SF

$332 USD /SF

# OF UNITS

2

PRICE/UNIT

$835,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1910

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,585 SF

ZONING

R6A/C2-4

APN/PARCEL ID

09286-0017

ASK ABOUT THIS PROPERTY

Jacob EllmanMarcus & MillichapMore Info
917-444-0967

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Jacob EllmanMarcus & MillichapMore Info
917-444-0967

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.