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    191-13 Jamaica Avenue Hollis, NY 11423

    View on Map
    For Sale
    $1,400,000

    MULTI_FAMILY - Hollis, NY

    Added:
    Jul 17, 2025
    Days on Market:
    259
    Last Refresh:
    Apr 1 at 9:06 pm

    Property Features for 191-13 Jamaica Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    3
    Bathrooms
    3
    Rooms
    Bedroom 3, Basement, Bathroom 3, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1
    Interior features
    First Floor Bedroom, First Floor Full Bath, Eat-in Kitchen
    Basement
    Finished, Storage Space
    Standard status
    Active

    Taxes and HOA fees

    TaxYear
    2025
    TaxAnnualAmount
    26544

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Water source
    Public

    Building Details

    Year built
    1997
    Number of units
    4
    Building materials
    Brick, Frame

    We can help!

    Listing Contact
    Mohammed Karim

    Listing agent Mohammed Karim

    Listing office Exit Realty Prime 18910 Hillside Ave Ste E, Jamaica, NY

    Listing date Jul 17, 2025

    MLS# 890624

    Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Mixed-Use Property on Jamaica Avenue

    This mixed-use property is located on Jamaica Avenue in Hollis. It includes three lots, selling as a package deal. The primary lot (Block/Lot: 10447/0043) features a two-story building with a 775 square foot retail store at the front, one one-bedroom unit at the rear, and two one-bedroom units on the second floor. The basement is finished and suitable for storage. The second lot (0040), accessible from 192nd Street, measures 12.43 feet by 82 feet, totaling 1145 square feet. It is zoned R5, C1-2 and could be used for a garage, warehouse, studio, or commercial space. The third lot (0140) measures 14 feet by 19 feet, totaling 266 square feet, and is also zoned R5, C1-2, suitable for storage. The property is in well-kept condition and is close to bus lines, the LIRR, shops, and other community amenities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sky Home Group ... Real Estate Agency

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hollis
    County
    Queens
    State
    New York
    Longitude
    -73.768448
    Latitude
    40.712936

    Nearby Similar for Sale

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    • $1,049,000

      Spacious Two-Family Home in Hollis

      Large 2-family home near amenities and public transportation.
      9141 195th Street, Hollis, NY 11423
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    • $1,149,000

      Renovated Two-Family Home, Hollis, NY

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    • $1,099,900

      Hollis Two-Family Home for Sale

      Two-family home in Hollis offering comfortable living and investment.
      19804 90th Avenue, Hollis, NY 11423
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with retail and residential units in Hollis.
    Where is this mixed-use property located?
    The property is located at 191-13 Jamaica Avenue Hollis, NY.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: Package deal: three lots including a mixed‑use building and two additional lots.; Mixed‑use building with a 775 sqft retail store and three 1‑bedroom units.; Additional lot with R5, C1‑2 zoning suitable for garage/warehouse/studio/commercial space.
    (646) 242-8929
    We can help!
    Listing Contact
    Mohammed Karim
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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