Two-Family Mixed-Use
For Sale
Contact for pricing
198-03 Hollis Ave, Saint Albans, NY 11412
Includes a storefront, finished basement, and four-car parking.
Property Size2,755 SF
Price / SF$490.02
Days on Market182
Property Features for 198-03 Hollis Ave
General Information
Standard status
Active
Size
2,755 SF
Total Parking Spaces
4
Property subtype
Office
Building Details
Year Built
1940
Listing Agency:
5 Boro Realty Corp
(855) 305-3325
Listed By:
Nina Sabag · License #10311207532
Source:
Crexi
Added: Mar 2
Changed: Aug 30
Last Checked: Aug 30 at 6:08AM
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 5 Boro Realty Corp
Investment Insights
Based on property information with market context.
Built in 1940, this 2,755-square-foot mixed-use property combines a two-family residential component with a storefront. The building also includes a finished basement and four-car parking, providing additional functional space for the property’s residential and commercial uses.
Located at 198-03 Hollis Ave in Saint Albans, NY 11412, the property is occupied by paying tenants. Its configuration brings together residential units and ground-floor commercial space within one asset.
Located at 198-03 Hollis Ave in Saint Albans, NY 11412, the property is occupied by paying tenants. Its configuration brings together residential units and ground-floor commercial space within one asset.
Key Highlights
- 2,755‑square‑foot mixed‑use property
- Two‑family residential component with storefront
- Finished basement included
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
$67,344
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
4.99%
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%
$1,346,880
$1.3M
Cap Rate 7%
$962,057
$962.1K
Cap Rate 9%
$748,267
$748.3K
Market Conditions
NOI Build-Up for 2,755 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
$127.3K $46.20/SF
− Vacancy
−$4.8K −$1.76/SF
EGI
$122.4K $44.44/SF
− OpEx
−$55.1K −$20.00/SF
NOI
$67.3K $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 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%
$1,346,880
Cap Rate 7%
$962,057
Cap Rate 9%
$748,267
Alternative Uses
Best Use
Apartment 5plus
$962.1K
$841.8K – $1.12M
NOI $67,344 @ 7.0% cap · market cap 4.99%
Second Best
Retail
$702.5K
$614.7K – $819.6K
NOI $49,177 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,171 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,979
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes a storefront, finished basement, and four-car parking.
Where is this mixed-use property located?
The property is located at 198-03 Hollis Ave Saint Albans, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 2,755‑square‑foot mixed‑use property; Two‑family residential component with storefront; Finished basement included
