Property Description

Mixed use residential and commercial building in the heart of Jamaica. Prime Investment Opportunity - Ideal for 1031 Exchange Buyers - Free Market 5-Unit Mixed-Use Property Mixed-use brick building located in the heart of Jamaica, Queens featuring 1 commercial store and 4 residential apartments, offering strong income potential and flexibility for both investors and end users. The first-floor commercial space is leased to a restaurant tenant at $5,600/month, plus 35% of annual property taxes as additional rent. The commercial space can be delivered with the existing tenant in place for immediate income or vacant at closing for an owner-user. Second Floor: Rear 1-bedroom (1 bath) rented at $2,000/month and front 2-bedroom (1 bath) rented at $2,300/month. Third Floor: 3-bedroom unit (2 baths) rented at $3,000/month. Fourth Floor: 3-bedroom unit (2 baths) rented at $2,600/month. Second- and third-floor residential units can be delivered vacant. The fourth-floor apartment is tenant-occupied. Strong income-producing property with approximately $203,000 in gross annual rent. Constructed with solid brick, the building offers long-term stability and strong fundamentals for both buy-and-hold investors and value-add strategies. Building Dimensions: 25.76 x 65 and Lot: 25.76 x 70.13 , Zoning : C4-4D. Just steps from Jamaica Center. Close to Target, Burlington, H&M, Marshalls, Shake Shack, Chipotle, Starbucks, supermarkets, banks, restaurants, and many other shopping and dining options. Conveniently located near the Jamaica Center-Parsons/Archer Station with access to the E, J, and Z subway lines, the LIRR, AirTrain JFK, and multiple bus routes, providing easy access to Manhattan, Long Island, and JFK Airport.

Property Features

Local Schools