8505 Jamaica Ave, Woodhaven, NY, 11421
About This Home
Excellent owner-user opportunity on Jamaica Avenue [NOI $105,235], [Current Revenue $112,380], [Tax $7,145/per year]. This three-unit mixed-use property features an approximately 2,000-square-foot ground-floor commercial storefront with two residential apartments above. The street-level commercial space offers strong visibility and a flexible layout suitable for a variety of retail, office, or service-oriented businesses, subject to permitted use and applicable approvals. An owner-user may operate a business on the ground floor while occupying one of the residential units above, or lease the residential units for additional income. Conveniently located near the J/Z subway at the 85th Street-Forest Parkway station. The property is situated within an R6A zoning district and may offer additional development potential, subject to zoning analysis, lot conditions, and governmental approvals. This versatile property provides an attractive combination of commercial occupancy, residential use, and future income potential. Buyers should independently verify square footage, zoning, permitted uses, development rights, and all property information. Based on projected market rents, the residential component may offer additional income upside:• One-bedroom unit: approximately $2,200-$2,500 per month • Two-bedroom unit: approximately $2,500-$2,900 per month • Three-bedroom unit: approximately $3,200-$3,600 per month. All cap rates, income figures, expenses, market rents, and financial projections are estimates provided for informational purposes only. Prospective purchasers should independently verify all financial information, legal rents, occupancy status, permitted uses, zoning, certificates of occupancy, and applicable rent-regulation requirements.
Getting Around
Very Walkable
Very Limited Transit
BikeableSchools
Construction
Condition
- Year built: 1931
Materials
- Construction materials: Masonry - Brick
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Basement
- Has basement: Yes
- Basement: Unfinished
Bedrooms & Bathrooms
- Bedrooms: 3
- Bathrooms: 3
- Full bathrooms: 3
Features
- Finished area above ground: 2,035
Heating & Cooling
- Heating features: Natural Gas,Hot Water,Radiant
- Cooling features: Central,Wall/Window Unit(s)
Interior Area
- Total structure area: 2,035
- Total interior livable area: 2,035 sqft
Property
Details
- Parcel number: 088590029
- Lease amount: 0
Features
- Stories: 2
- Frontage length: 0
Lot
- Lot size: 2,035 sqft
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Heat Wave
- Cold Wave
- Strong Wind
- Winter Weather
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters in Queens County and New York
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $7,989 | $95,868 |
| Home Insurance * | $456 | $5,472 |
| Property Taxes | $987 | $11,844 |
| Electricity | $336 | $4,035 |
| Total | $9,768 | $117,216 |
Income You'd Need if You Spent...
New York FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2024-09-02 | Listed for sale | $1,580,000 |
| 2024-08-24 | Listing removed | -- |
| 2024-08-14 | Listed for sale | $1,580,000 |
| 2024-07-30 | Listing removed | -- |
| 2024-07-01 | Listed for sale | $1,580,000 |
| 2024-02-04 | Listing removed | -- |
| 2023-08-23 | Listed for sale | $1,580,000 |
| 2018-11-13 | Sold | $975,000 |
| 2018-07-13 | Listing removed | $1,050,000 |
| 2018-06-13 | Listed for sale | $1,050,000 |
| 2018-03-13 | Sold | $810,000 |
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