Building Details

Building Size 2,160 SF

Year Built 1931

Tenancy Multi

Listing Agency: BERKSHIRE HATHAWAY w***@bhhslaffey.com Show Phone

Listed By: Fatima Smith AHWD Show Phone

Source: Croninreale

Added: May 13 Changed: Oct 23 Last Checked: Oct 23 at 5:06PM

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Investment Insights

Based on property information with market context.

At 195-29 Jamaica Avenue in Hollis, Queens, this mixed-use property contains two residential units and one commercial storefront. The building dates to 1931 and is fully tenanted, with an R5 zoning designation.

Public transportation, shopping, restaurants, and major roadways are nearby. The property is located on Jamaica Avenue.

Key Highlights

• Two residential units and one commercial storefront
• Fully tenanted building
• R5 zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$38,556

Cap Rate

3.22%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$771,120 $771.1K

Cap Rate 7%

$550,800 $550.8K

Cap Rate 9%

$428,400 $428.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,160 SF

Gross rent

$64.8K $30.00/SF

− Vacancy

−$9.7K −$4.50/SF

EGI

$55.1K $25.50/SF

− OpEx

−$16.5K −$7.65/SF

NOI

$38.6K $17.85/SF

Area

Queens County, NY

Vacancy

15.00%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$771,120

Cap Rate 7%

$550,800

Cap Rate 9%

$428,400

Alternative Uses

Best Use

Retail

$550.8K

$482.0K – $642.6K (±1% cap)

NOI $38,556 @ 7.0% cap · market cap 3.22%

Second Best

Mixed Use

$397.1K

$347.5K – $463.3K (±1% cap)

NOI $27,799 @ 7.0% cap · market cap 2.32%

Theoretical Best

Office A

$1.59M

$1.39M – $1.86M (±1% cap)

NOI $111,466 @ 7.0% cap · market cap 9.30%

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

Property Analytics

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Current Use

Rehana Grill Chicken Restaurant Mama’s fried chicken Restaurant

Suggested Use

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

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

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,983

Businesses Nearby

46k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Groceries 75% Shops & Services 14% Dining 11%

C-Town Supermarkets Groceries

19,248 visits/mo 0.1 miles

Western Beef Groceries

15,102 visits/mo 0.5 miles

Family Dollar Shops & Services

5,867 visits/mo 0.3 miles

Domino's Pizza Dining

2,852 visits/mo 0.2 miles

Little Caesars Pizza Dining

2,186 visits/mo 0.1 miles

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 Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - The occupied building combines residential units with commercial space along Jamaica Avenue.

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: Two residential units and one commercial storefront; Fully tenanted building; R5 zoning