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121-02 Jamaica Avenue, Jamaica, NY 11418

3 Photos
 
$8,600,000 List Price
Off Market
 
Listing ID 11116031
Property Type Commercial Building
County Queens
Township Queens
Neighborhood Richmond Hill
FEMA Flood Map fema.gov/portal
Year Built 1931
   
Virtual Tour

Single Story Corner Building with 280 Ft of Wraparound Frontage

121-02 Jamaica Avenue is a 17,293 Sq. Ft. single-story retail building in the Richmond Hill section of Queens. The property measures 157' x 123' (Irregular) and is located on the corner of 121st Street and Jamaica Avenue. There is 280 Ft of wraparound frontage. It is located in a R6A, C2-4 zone and comes with an additional 34,586 Sq. Ft. of air rights. There are currently (2) tenants in the space, however one of the the tenants will vacate at closing. The building will be delivered with (1) tenant occupying the front of the building, whose lease expires on 12/31/25. The back unit (11,587 Sq. Ft.) will be delivered vacant. 87-15 115th Street Avenue is located at the 121st Street J/Z Subway Stop on Jamaica Avenue. Jamaica Avenue in Richmond hill commands retail rents of approximately ~$55 PSF, with corner spaces commanding slightly higher. This property is conveniently located in front of the 121st Street J/Z Subway Stop, which should be attractive to future tenants.
Property Details
  • 17293 SF Lot
  • Built in 1931
  • 1 Story
  • Available 10/21/2022
Exterior Features
  • Frame Construction
Community Details
  • Low-rise (Bldg. Style)
Commercial Info
  • 9% Cap. Rate
Income/Expenses
  • Gross Income $994,290
  • Net Income $812,377
  • Operating Exp $29,828
  • Management Exp $28,933
  • Maintainence Exp $5,000
  • Insurance Exp $20,000
  • Total Exp $152,083
Previously Listed By
Landair Property Advisors, LLC
Office: 646-559-4700
Listing data is deemed reliable but is NOT guaranteed accurate.
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