Mixed-Use Building with Rear
198-03 Hollis Ave Queens, NY 11412
198-03 Hollis Ave, Queens, NY, 11412
$1,090,000
For Sale
$1,090,000
MULTI_FAMILY - Queens, NY
Property Size3,000 SF
Lot Size0.04 Acres
Price / SF$363.33
Days on Market57
Property Features for 198-03 Hollis Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 4, Bedroom 2, Bathroom 1, Laundry Room, Bedroom 3
- Standard status
- Active
- Size
- 3,000 SF
- Lot size
- 0.04 Acres
Taxes and HOA fees
- Tax Annual Amount
- 5769
Building Details
- Floors in Building
- 2
Listing agency
5 BORO REALTY CORP
(917) 705-0005
Listed by
Nina Sabag
855-305-DEAL
Added: May 28 Updated: Jul 11 at 11:33AM Checked: Jul 23 at 1:06AM
MLS# 11792948
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property includes two residential units and one ground-floor commercial storefront. The residential layout consists of a 3-bedroom apartment and a studio apartment. The store occupies the first-floor space and also uses a finished basement for storage or operational use. Income currently totals $7,255 per month ($87,060 annually), with $2,555 from the 3-bedroom unit, $2,200 from the studio, and $2,500 from the retail storefront.
The building sits on a 21 ft x 131.17 ft lot, with a footprint measuring 18 ft x 55 ft. Rear parking accommodates up to four cars, supported by the depth of the lot and the efficient building size.
For an investor or owner-operator, the combination of residential and retail income can help diversify cash flow under one ownership. The finished basement access tied to the storefront supports day-to-day operational flexibility, while the rear parking feature is a practical benefit for both tenants and retail customers. The property is currently generating rental income across all three units, making it suitable for those looking to acquire a functioning mixed-use building.
The building sits on a 21 ft x 131.17 ft lot, with a footprint measuring 18 ft x 55 ft. Rear parking accommodates up to four cars, supported by the depth of the lot and the efficient building size.
For an investor or owner-operator, the combination of residential and retail income can help diversify cash flow under one ownership. The finished basement access tied to the storefront supports day-to-day operational flexibility, while the rear parking feature is a practical benefit for both tenants and retail customers. The property is currently generating rental income across all three units, making it suitable for those looking to acquire a functioning mixed-use building.
Key Highlights
- Mixed‑use income property with 2 residential units and 1 ground‑floor commercial storefront, plus finished basement used by the tenant
- $7,255 monthly income ($87,060 annually): 3‑bedroom unit $2,555/month, studio $2,200/month, retail store $2,500/month
- Rear parking for up to 4 cars, supporting both residential tenants and commercial use
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $138.6k | $46.20 |
| − Vacancy | −$5.3k | −$1.76 |
| EGI | $133.3k | $44.44 |
| − OpEx | −$60.0k | −$20.00 |
| NOI | $73.3k | $24.44 |
3,000 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$916.7K – $1.22M
NOI $73,333 @ 7.0% cap · market cap 6.73%
Second Best
Retail
$765.0K
$669.4K – $892.5K
NOI $53,550 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$2.21M
$1.94M – $2.58M
NOI $154,814 @ 7.0% cap · market cap 14.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Isalis
(Bike/Boat/Book/etc) Store
Party City
Party Supply Store
Skunk Funk
Big Box & Wholesale Store
Carl's Trading Co
Hat Shop
Bushka's Kitchen LLC
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Two residential units over a ground-floor storefront, with a finished basement and rear parking for up to four cars.
Where is this mixed-use property located?
The property is located at 198-03 Hollis Ave Queens, NY.
What is the asking price?
The asking price for this property is $1,090,000.
What are key features of this property?
This property features: Mixed‑use income property with 2 residential units and 1 ground‑floor commercial storefront, plus finished basement used by the tenant; $7,255 monthly income ($87,060 annually): 3‑bedroom unit $2,555/month, studio $2,200/month, retail store $2,500/month; Rear parking for up to 4 cars, supporting both residential tenants and commercial use
