Mixed-Use Property with
For Sale
$1,199,000
195-29 Jamaica Avenue, Hollis, NY 11423
Fully occupied property combining residential units with commercial frontage in an R5-zoned setting.
Property Size2,160 SF
Days on Market111
Property Features for 195-29 Jamaica Avenue
General Information
Standard status
Active
Size
2,160 SF
Property subtype
Commercial
Zoning
R5
Occupancy
100%
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,458
Building Details
Building Size
2,160 SF
Year Built
1931
Tenancy
Multi
Listing Agency:
BERKSHIRE HATHAWAY
(516) 668-9154
Listed By:
Fatima Smith AHWD
(516) 668-9154
Source:
Callexitfirst
Added: May 13
Changed: Aug 30
Last Checked: Aug 30 at 5:37PM
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 BERKSHIRE HATHAWAY
Investment Insights
Based on property information with market context.
This mixed-use property contains 2 residential units and 1 commercial storefront within an S2 building class configuration. The asset is fully tenanted and produces rental income, combining residential occupancy with commercial space in one building. Constructed in 1931, it offers an established physical presence along Jamaica Avenue.
The property is located at 195-29 Jamaica Avenue in Hollis, Queens, NY 11423. The surrounding corridor includes public transportation, shopping, restaurants, and major roadways, with both pedestrian and vehicle activity noted in the area. R5 zoning supports the property’s mixed residential and commercial configuration as currently described.
The property is located at 195-29 Jamaica Avenue in Hollis, Queens, NY 11423. The surrounding corridor includes public transportation, shopping, restaurants, and major roadways, with both pedestrian and vehicle activity noted in the area. R5 zoning supports the property’s mixed residential and commercial configuration as currently described.
Key Highlights
- 2 residential units and 1 commercial storefront
- S2 building class configuration
- Fully tenanted, income‑producing property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$52,800
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,056,000
$1.1M
Cap Rate 7%
$754,286
$754.3K
Cap Rate 9%
$586,667
$586.7K
Market Conditions
NOI Build-Up for 2,160 SF
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.
Gross rent
$99.8K $46.20/SF
− Vacancy
−$3.8K −$1.76/SF
EGI
$96.0K $44.44/SF
− OpEx
−$43.2K −$20.00/SF
NOI
$52.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,056,000
Cap Rate 7%
$754,286
Cap Rate 9%
$586,667
Alternative Uses
Best Use
Apartment 5plus
$754.3K
$660.0K – $880.0K
NOI $52,800 @ 7.0% cap · market cap 4.40%
Second Best
Retail
$550.8K
$482.0K – $642.6K
NOI $38,556 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,466 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,983
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied property combining residential units with commercial frontage in an R5-zoned setting.
Where is this mixed-use property located?
The property is located at 195-29 Jamaica Avenue Hollis, NY.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: 2 residential units and 1 commercial storefront; S2 building class configuration; Fully tenanted, income‑producing property
