Building Details

Building Size 3,300 SF

Year Built 1931

Buildings 1

Stories 3

Construction brick

Listing Agency: Wally Realty

Listed By: Steve Caballero · License #10401394415 Show Phone

Source: Barbieliteam

Added: Oct 9 Changed: Oct 11 Last Checked: Oct 15 at 7:15AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Wally Realty

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Investment Insights

Based on property information with market context.

Built in 1931, this three-story brick property contains five units: four two-bedroom apartments on the upper floors and commercial office space on the first floor. The apartments and the first-floor and basement areas have been renovated. The office includes two conference rooms, three separate offices, two kitchenettes, two bathrooms, built-in desks and cabinetry, a glass facade, and electric shutters.

The basement houses 5 boilers, 5 hot water tanks, 5 electric meters, and 5 gas meters. Tenants pay their own utilities; the owner covers taxes and insurance.

Key Highlights

• Five‑unit building with four two‑bedroom apartments and commercial office space
• Two conference rooms and three separate offices
• Two kitchenettes and two bathrooms in the office area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$80,667

Cap Rate

5.38%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,613,340 $1.6M

Cap Rate 7%

$1,152,386 $1.2M

Cap Rate 9%

$896,300 $896.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,300 SF

Gross rent

$152.5K $46.20/SF

− Vacancy

−$5.8K −$1.76/SF

EGI

$146.7K $44.44/SF

− OpEx

−$66.0K −$20.00/SF

NOI

$80.7K $24.44/SF

Area

Queens County, NY

Vacancy

3.80%

Lease Rate

$46.20 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,613,340

Cap Rate 7%

$1,152,386

Cap Rate 9%

$896,300

Alternative Uses

Best Use

Apartment 5plus

$1.15M

$1.01M – $1.34M (±1% cap)

NOI $80,667 @ 7.0% cap · market cap 5.38%

Second Best

Mixed Use

$606.7K

$530.9K – $707.9K (±1% cap)

NOI $42,471 @ 7.0% cap · market cap 2.83%

Theoretical Best

Office A

$2.43M

$2.13M – $2.84M (±1% cap)

NOI $170,296 @ 7.0% cap · market cap 11.35%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Ismoke (Bike/Boat/Book/etc) Store First Target Realty Real Estate Agency I M Homes ... Real Estate Agency

Suggested Use

Top Pick Law Firm Real Estate Agency Skin Care Clinic Gym & Fitness Center Acupuncture Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Location Intelligence

Trade Area within ½ mile

1,701

Businesses Nearby

Explore this area Business Placement

Demographics for 11423, NY

31,985

Population

10,307

Households

3.1

Avg Household Size

41

Median Age

34%

College-Educated

85%

High-School Grad

1.4 sq mi

ZIP Area

22,846

Density / Sq Mi

$80,870

Median Household Income

$44,639

Median Earnings

$1,706

Median Rent

$717,300

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Three-story brick property pairs renovated apartments with office space featuring private work areas and conference rooms.

Where is this mixed-use property located?

The property is located at 19312 Jamaica Avenue Hollis, NY.

What is the asking price?

The asking price for this property is $1,500,000.

What are key features of this property?

This property features: Five‑unit building with four two‑bedroom apartments and commercial office space; Two conference rooms and three separate offices; Two kitchenettes and two bathrooms in the office area