Building Details

Floors in Building 2

Listing Agency: 5 BORO REALTY CORP Show Phone

Listed By: Nina Sabag · License #10311207532 Show Phone

Added: May 28 Changed: Oct 9 Last Checked: Oct 14 at 6:06AM

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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 contains two residential apartments and a ground-floor retail storefront. The apartments comprise a three-bedroom unit and a studio. A finished basement provides additional space for the storefront tenant, and rear parking accommodates up to four cars.

The building contains 3,000 square feet on a 21 ft x 131.17 ft lot. Its footprint measures 18 ft x 55 ft. The combination of residential units, retail space, basement area, and rear parking is already in place.

Key Highlights

• Two residential units: one three‑bedroom apartment and one studio
• Ground‑floor retail storefront with use of a finished basement
• Rear parking for up to four cars

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$73,333

Cap Rate

7.57%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,466,660 $1.5M

Cap Rate 7%

$1,047,614 $1.0M

Cap Rate 9%

$814,811 $814.8K

Market Conditions

NOI Build-Up for 3,000 SF

Gross rent

$138.6K $46.20/SF

− Vacancy

−$5.3K −$1.76/SF

EGI

$133.3K $44.44/SF

− OpEx

−$60.0K −$20.00/SF

NOI

$73.3K $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%

$1,466,660

Cap Rate 7%

$1,047,614

Cap Rate 9%

$814,811

Alternative Uses

Best Use

Apartment 5plus

$1.05M

$916.7K – $1.22M (±1% cap)

NOI $73,333 @ 7.0% cap · market cap 7.57%

Second Best

Retail

$765.0K

$669.4K – $892.5K (±1% cap)

NOI $53,550 @ 7.0% cap · market cap 5.53%

Theoretical Best

Office A

$2.21M

$1.94M – $2.58M (±1% cap)

NOI $154,814 @ 7.0% cap · market cap 15.98%

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

Property Analytics

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Current Use

Bertrand Bookkeeping Solutions Accounting Firm

Suggested Use

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

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

2

Residential units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,653

Businesses Nearby

Explore this area Business Placement

Demographics for 11412, NY

37,958

Population

12,821

Households

3

Avg Household Size

41

Median Age

25%

College-Educated

89%

High-School Grad

1.6 sq mi

ZIP Area

23,724

Density / Sq Mi

$98,418

Median Household Income

$48,243

Median Earnings

$1,630

Median Rent

$633,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - The property combines two apartments, a ground-floor storefront, and a finished basement used by the commercial tenant.

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 $969,000.

What are key features of this property?

This property features: Two residential units: one three‑bedroom apartment and one studio; Ground‑floor retail storefront with use of a finished basement; Rear parking for up to four cars