165-02-165-04 Jamaica Ave - Freestanding FOR SALE


Jamaica, NY 11432
$5,750,000 USD
516-650-8549
165-02-165-04 Jamaica Ave, Jamaica, NY for Sale
$5,750,000 USD
Freestanding - FOR SALE
1/12
null | 8.63% Cap Rate

165-02-165-04 Jamaica Ave
Jamaica, NY 11432


HIGHLIGHTS

  • Development Site
  • Two full floors of vacant office space upstairs potential for 15% Cap Rate
  • Leases / tenants in place for current cash flow while you develop upstairs

OVERVIEW

Introducing 165-02/04 Jamaica Avenue a 15,000 SqFt 3 Floor corner property with 6 ground floor retail stores + another two vacant floors of office space on top. 5/6 stores are occupied (Boston Market being the vacant unit) and the owner is negotiating a lease now to take over their space. 6FAR allows for 26,488 Buildable SqFt (11,488 available on top). The top floors can be fully renovated for office space while you maintain cash flow from current retail tenancy below - PRO FORMA on full occupancy (6/6 stores + the office space upstairs) is 12/13%. Leases & Access available for qualified buyers.

FOR SALE DETAILS

PRICE

$5,750,000 USD

PRICE/SF

$383 USD /SF

CAP RATE

8.63%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

26,488SqFt Buildable

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Restaurant, Loft/Creative Space, Department Store

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1917

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,356 SF

ZONING

C6-2

APN/PARCEL ID

10155-0001

ASK ABOUT THIS PROPERTY

Nate SmithOxford Property GroupMore Info
516-650-8549

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Nate SmithOxford Property GroupMore Info
516-650-8549

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