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$413M Approved for Jamaica Community 172-12 Linden Blvd 2,400 SF 100% Leased Retail Building Saint Albans, NY 11434 $1,195,000 ($497.92/SF) 9.28% Cap Rate
INVESTMENT HIGHLIGHTS
- Retail Office Space is Currently Leased through 12/31/25 to Assembly Woman Williams. Can Release for Long-Term Lease - Guaranteed by NYC
EXECUTIVE SUMMARY
NYC Council has Officially Approved $413,000,000 Million in New Community Investments. This will dramatically impact the area and the property located at 172-12 Linden Blvd. Including Allowing for Added Stories and Increased FAR. Please read full plan details below by accessing link:
https://council.nyc.gov/press/2025/10/09/2986/
Current Configuration
This is a Prime Mixed Use Property located in the Historic District of Jamaica Queens referred to as Addisleigh Park. The ground floor is currently leased to a prominent government official and their are 2 residential units. The two-bedroom was just renovated and vacant and the one-bedroom is on a month to month basis. Potential to deliver vacant. The Government Official lease expirees on 12/31/25 and can renewed for a long-term lease with rent starting at $5,000 to $6000 per month with increases. This lease will be guaranteed by NYC. This retail space can also be delivered vacant. Apartment rents are below market. Property is well maintained with new gas fired efficient furnace, hot water heater and electric panel. Shopping and MTA Bus service are literally within 500 feet of the Subject Property. Seller is motivated to make a deal. Call Richard at 516 -639 0021 for details. Call Richard Diller for Income and Expenses
Please see Press Release Below as to New $413 Million Dollar Neighborhood Plan below just Approved Oct 2025. Zoning has been expanded to R7 with Increased FAR.
See Press Release Link Below
https://council.nyc.gov/press/2025/10/09/2986/
Current Configuration
This is a Prime Mixed Use Property located in the Historic District of Jamaica Queens referred to as Addisleigh Park. The ground floor is currently leased to a prominent government official and their are 2 residential units. The two-bedroom was just renovated and vacant and the one-bedroom is on a month to month basis. Potential to deliver vacant. The Government Official lease expirees on 12/31/25 and can renewed for a long-term lease with rent starting at $5,000 to $6000 per month with increases. This lease will be guaranteed by NYC. This retail space can also be delivered vacant. Apartment rents are below market. Property is well maintained with new gas fired efficient furnace, hot water heater and electric panel. Shopping and MTA Bus service are literally within 500 feet of the Subject Property. Seller is motivated to make a deal. Call Richard at 516 -639 0021 for details. Call Richard Diller for Income and Expenses
Please see Press Release Below as to New $413 Million Dollar Neighborhood Plan below just Approved Oct 2025. Zoning has been expanded to R7 with Increased FAR.
See Press Release Link Below
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$126,000
|
$52.50
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$126,000
|
$52.50
|
| Taxes |
$5,293
|
$2.21
|
| Operating Expenses |
$9,838
|
$4.10
|
| Total Expenses |
$15,131
|
$6.30
|
| Net Operating Income |
$110,869
|
$46.20
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $126,000 |
| Annual Per SF | $52.50 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $126,000 |
| Annual Per SF | $52.50 |
| Taxes | |
|---|---|
| Annual | $5,293 |
| Annual Per SF | $2.21 |
| Operating Expenses | |
|---|---|
| Annual | $9,838 |
| Annual Per SF | $4.10 |
| Total Expenses | |
|---|---|
| Annual | $15,131 |
| Annual Per SF | $6.30 |
| Net Operating Income | |
|---|---|
| Annual | $110,869 |
| Annual Per SF | $46.20 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
2,400 SF
Building Class
C
Year Built/Renovated
1931/2025
Price
$1,195,000
Price Per SF
$497.92
Cap Rate
9.28%
NOI
$110,869
Percent Leased
100%
Building Height
2 Stories
Building FAR
1.10
Lot Size
0.05 AC
Zoning
Note Zoning Description - NYC Council has Officially Approved $413,000,000 Million in New Community Investments. See Link:
https://council.nyc.gov/press/2025/10/09/2986/
R7
Parking
2 Spaces (0.83 Spaces per 1,000 SF Leased)
Frontage
Walk Score®
Very Walkable (79)
Transit Score®
Excellent Transit (79)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 12394-0095 | Total Assessment | $26,352 |
| Land Assessment | $5,414 | Annual Taxes | $5,293 ($2.21/SF) |
| Improvements Assessment | $20,938 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
12394-0095
Land Assessment
$5,414
Improvements Assessment
$20,938
Total Assessment
$26,352
Annual Taxes
$5,293 ($2.21/SF)
Tax Year
2025
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$413M Approved for Jamaica Community | 172-12 Linden Blvd
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