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88-22 Roosevelt Ave Medical Office Community 8822 Roosevelt Ave 2,818 SF 66% Leased Retail Building Jackson Heights, NY 11372 $1,850,000 ($656.49/SF)
Investment Highlights
- Next to #7 train with great street frontage, sign visibility, foot and 12k+ car traffic per day!
- Second floor and cellar also available to rent.
- Suitable for retail, medical, offices and community facilities which can be combined to diversify and hedge risk.
Executive Summary
Prime location in the heart of Jackson Heights! Great street frontage, sign visibility, foot and 12k+ car traffic per day. Three commercial units built in 1989 with a total of around 2,818 square feet suitable for retail, medical, offices and community space such as houses of worship, seminaries, schools, day or adult care, non profit which can be combined to diversify and hedge risk (please consult with an architect and attorney).
Very busy beauty salon for many years of around 950 sq ft on the street side floor renting for $4,500+ utilities month to month. Medical office in cellar of around 918 sq ft currently renting below market $2,200+ utilities month to month and is available to rent (negotiable). Second floor is around 950 sq ft and is also available to rent for $3k monthly not including utilities. Fresh paint and nice tile floors.
Current net income of around $50k+ yearly. (Conservative proforma with full occupancy: potential yearly rental income $126k+, yearly net income $93k+ @ 5% cap). Yearly property taxes of $25,406. Building Class K2 - Multi-Story Retail Building (2 Or More). Zoning C2-3, R6. Lot size 1,093 sq ft. Sold as is. $1.85 million firm with seller financing in one of the hottest commercial districts in New york city! Please do not disturb tenants.
Commuter and walker paradise next to the #7 train at 90th st & Elmhurst ave, ethnic restaurants, cafes, shops, Dunkin Donuts, Bravo/Key Food/Mi Tierra supermarkets, other family owned groceries and pharmacies, medical facilities, Medicaid & Medicare providers such as (Fidelis Care, Metroplus Health, Healthfirst), Planet Fitness and Western Union. Near ModernMD Urgent Care, Mount Sinai Medical, Elmhurst hospital, Duane Reade/Walgreens, Herbalife Vida Bella club, McDonald's, Taco bell, UPS, Fedex, banks, Money gram, PLS check cashers, Target, SAMA department store, Lot less, Roosevelt shopping mall, Cricket wireless, T mobile, Sunday farmers market at Travers park, post office, police and fire stations.
Ultimate convenience nestled between Brooklyn Queens expressway and Grand Central parkway with close access to multiple transit options from the 74th St & Roosevelt Ave. hub including the E, F, M, R subways, Q29, Q32, Q33, Q49, Q53, Q72 and the free Q70 LaGuardia airport/LIRR Woodside link express bus. Around 15 minutes non rush hour drive to LGA and 30 mins to Manhattan by car or subway!
For questions and appointments, contact Diane Mi Ryoung Chong at 718-640-4431, michong2009@gmail.com. Real estate agent at Hanmi Realty.
Very busy beauty salon for many years of around 950 sq ft on the street side floor renting for $4,500+ utilities month to month. Medical office in cellar of around 918 sq ft currently renting below market $2,200+ utilities month to month and is available to rent (negotiable). Second floor is around 950 sq ft and is also available to rent for $3k monthly not including utilities. Fresh paint and nice tile floors.
Current net income of around $50k+ yearly. (Conservative proforma with full occupancy: potential yearly rental income $126k+, yearly net income $93k+ @ 5% cap). Yearly property taxes of $25,406. Building Class K2 - Multi-Story Retail Building (2 Or More). Zoning C2-3, R6. Lot size 1,093 sq ft. Sold as is. $1.85 million firm with seller financing in one of the hottest commercial districts in New york city! Please do not disturb tenants.
Commuter and walker paradise next to the #7 train at 90th st & Elmhurst ave, ethnic restaurants, cafes, shops, Dunkin Donuts, Bravo/Key Food/Mi Tierra supermarkets, other family owned groceries and pharmacies, medical facilities, Medicaid & Medicare providers such as (Fidelis Care, Metroplus Health, Healthfirst), Planet Fitness and Western Union. Near ModernMD Urgent Care, Mount Sinai Medical, Elmhurst hospital, Duane Reade/Walgreens, Herbalife Vida Bella club, McDonald's, Taco bell, UPS, Fedex, banks, Money gram, PLS check cashers, Target, SAMA department store, Lot less, Roosevelt shopping mall, Cricket wireless, T mobile, Sunday farmers market at Travers park, post office, police and fire stations.
Ultimate convenience nestled between Brooklyn Queens expressway and Grand Central parkway with close access to multiple transit options from the 74th St & Roosevelt Ave. hub including the E, F, M, R subways, Q29, Q32, Q33, Q49, Q53, Q72 and the free Q70 LaGuardia airport/LIRR Woodside link express bus. Around 15 minutes non rush hour drive to LGA and 30 mins to Manhattan by car or subway!
For questions and appointments, contact Diane Mi Ryoung Chong at 718-640-4431, michong2009@gmail.com. Real estate agent at Hanmi Realty.
Financial Summary (Pro Forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$126,000
|
$44.71
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$126,000
|
$44.71
|
| Taxes |
$25,406
|
$9.02
|
| Operating Expenses |
$7,594
|
$2.69
|
| Total Expenses |
$33,000
|
$11.71
|
| Net Operating Income |
$93,000
|
$33.00
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $126,000 |
| Annual Per SF | $44.71 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $126,000 |
| Annual Per SF | $44.71 |
| Taxes | |
|---|---|
| Annual | $25,406 |
| Annual Per SF | $9.02 |
| Operating Expenses | |
|---|---|
| Annual | $7,594 |
| Annual Per SF | $2.69 |
| Total Expenses | |
|---|---|
| Annual | $33,000 |
| Annual Per SF | $11.71 |
| Net Operating Income | |
|---|---|
| Annual | $93,000 |
| Annual Per SF | $33.00 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
2,818 SF
Building Class
C
Year Built
1989
Price
$1,850,000
Price Per SF
$656.49
Percent Leased
66%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
2.58
Lot Size
0.03 AC
Zoning
R6 - Medium density residential district
Frontage
34’ on Roosevelt Ave
Amenities
- Commuter Rail
- Metro/Subway
- Signage
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Around 918 sq ft in the cellar also available to lease now. Rent negotiable utilities not included. To be delivered vacant.
Walk up to the vacant second floor of around 950 square feet. Fresh paint and nice tile floors. $3k monthly rent not including utilities. Available now!
| Space | Size | Space Use | Position | Available |
| Cellar | 918 SF | Office/Medical | - | Now |
| 2nd Floor | 950 SF | Office/Retail | - | Now |
Cellar
| Size |
| 918 SF |
| Space Use |
| Office/Medical |
| Position |
| - |
| Available |
| Now |
2nd Floor
| Size |
| 950 SF |
| Space Use |
| Office/Retail |
| Position |
| - |
| Available |
| Now |
Cellar
| Size | 918 SF |
| Space Use | Office/Medical |
| Position | - |
| Available | Now |
Around 918 sq ft in the cellar also available to lease now. Rent negotiable utilities not included. To be delivered vacant.
2nd Floor
| Size | 950 SF |
| Space Use | Office/Retail |
| Position | - |
| Available | Now |
Walk up to the vacant second floor of around 950 square feet. Fresh paint and nice tile floors. $3k monthly rent not including utilities. Available now!
Walk Score®
Walker's Paradise (98)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (76)
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Total Assessment | $480,340 | |
| Land Assessment | $122,850 | Annual Taxes | $25,406 ($9.02/SF) |
| Improvements Assessment | $357,490 | Tax Year | 2025 |
Property Taxes
Parcel Numbers
Land Assessment
$122,850
Improvements Assessment
$357,490
Total Assessment
$480,340
Annual Taxes
$25,406 ($9.02/SF)
Tax Year
2025
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88-22 Roosevelt Ave Medical Office Community | 8822 Roosevelt Ave
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