26,488SqFt Buildable 165-02-165-04 Jamaica Ave 11,862 sq ft 86% Let Retail Property Jamaica, NY 11432 £4,071,925 (£343.27/sq ft) 6.21% Net Initial Yield

This prominent three-story commercial building is positioned at the corner of Jamaica Avenue and 165th Street. Encompassing approximately 11,862 square feet, the ground floor featured retail storefronts, which are currently occupied. The sixth unit, formerly a Boston Market, is currently occupied by a new tenant Mike Jewelry, the third floor is a shell. The property offers a compelling value-add opportunity, with the upper two floors currently vacant and well-suited for retail use or future development. It sits on a 4,400 SF lot with an existing Floor Area Ratio (FAR) of 3.41 and a zoning FAR of 6.02, allowing for a total buildable area of up to 26,488 square feet. With a current cap rate of 5.9%, the asset presents strong potential for both income generation and long-term growth. Strategically located in the heart of Downtown Jamaica, the property enjoys heavy foot traffic and excellent accessibility. It is conveniently situated between the 169th Street and Parsons Boulevard subway stations, and near the Parsons/Archer – Jamaica Center subway station, offering access to multiple subway lines. Additionally, the Jamaica Avenue/165th Street MTA bus stop is located diagonally across the street, providing further commuter convenience. With its prime location, stable in-place tenancy, and future development potential, 165-02 Jamaica Avenue represents a compelling investment opportunity in one of Queens’ most vibrant commercial corridors.
PROPERTY HIGHLIGHTS:
• Close to multiple subway stations, including Jamaica Center–Parsons/Archer (E, J, Z lines) and 169th Street (F line)
• Potential to renovate upper floors for retail use or expand the building’s footprint, leveraging available air rights
• Situated in a vibrant commercial district with a diverse customer base and strong retail presence
• Prime corner location with high visibility, existing restaurant infrastructure, and proximity to public transportation