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11702 Jamaica Ave 2 Unit Apartment Building $2,650,879 CAD ($1,325,439 CAD/Unit) 6.50% Cap Rate Richmond Hill, NY 11418
Executive Summary
Corner mixed-use investment property located at 117-02 Jamaica Ave, Richmond Hill, NY 11418, offering strong in-place income, long-term tenancy stability, and a solid cash flow profile with a corner location and strong street visibility. The property generates approximately $140,580 in gross annual income, consisting of a ground-floor commercial unit at $5,250/month plus $200/month parking income, and two residential units (4-bedroom at $3,750/month and 3-bedroom at $2,515/month). The commercial tenant has approximately 15 years remaining on the lease and contributes to operating expenses, while residential tenants pay electricity, with the landlord covering certain utilities.
Annual Expenses:
- Real Estate Taxes: $10,500/year (33% reimbursed by commercial tenant)
- Insurance: $4,800/year (33% reimbursed by commercial tenant)
- Water: $2,400/year (30% reimbursed by commercial tenant)
Annual Expenses:
- Real Estate Taxes: $10,500/year (33% reimbursed by commercial tenant)
- Insurance: $4,800/year (33% reimbursed by commercial tenant)
- Water: $2,400/year (30% reimbursed by commercial tenant)
Property Facts
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Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $191,927 CAD | |
| Land Assessment | $56,962 CAD | Total Assessment | $248,889 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$56,962 CAD
Improvements Assessment
$191,927 CAD
Total Assessment
$248,889 CAD
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Kingsland Properties
11702 Jamaica Ave
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