Mixed-Use Corner
For Sale
$699,000
198-09 Jamaica Avenue, Hollis, NY 11423
Two-story corner mixed-use building includes one retail store and one apartment, with vacancies and active city violations.
Property Size2,260 SF
Days on Market93
Property Features for 198-09 Jamaica Avenue
General Information
Standard status
Active
Size
2,260 SF
Property subtype
Retail - Street Retail
Additional Details
Multifamily Units
1
Building Details
Building Size
2,260 SF
Stories
2
Listing Agency:
Forest Park Properties
Listed By:
Raymond Mordekhai
(718) 820-1200
Source:
Commercialcafe
Added: Jul 20
Changed: Oct 15
Last Checked: Oct 19 at 4:25AM
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 Forest Park Properties
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Investment Insights
Based on property information with market context.
198-09 Jamaica Avenue is a two-story brick corner mixed-use building. The property includes one retail store and one apartment. The listing notes that a full basement is not included in the building size.
The site is described as being strategically located on busy Jamaica Avenue in Hollis, Queens, with access to public transit including the Hollis LIRR Station and multiple MTA bus routes, as well as nearby major thoroughfares including the Cross Island Parkway, Grand Central Parkway, and Hillside Avenue.
The property is being sold on behalf of the NYC tax lien trust. It is currently vacant and the listing states there are Building Department and HPD violations, along with an active vacate order. The sale is subject to the stated violations and active vacate order, and no access is available. All offers are due by August 30, 2026.
The site is described as being strategically located on busy Jamaica Avenue in Hollis, Queens, with access to public transit including the Hollis LIRR Station and multiple MTA bus routes, as well as nearby major thoroughfares including the Cross Island Parkway, Grand Central Parkway, and Hillside Avenue.
The property is being sold on behalf of the NYC tax lien trust. It is currently vacant and the listing states there are Building Department and HPD violations, along with an active vacate order. The sale is subject to the stated violations and active vacate order, and no access is available. All offers are due by August 30, 2026.
Key Highlights
- 2‑story corner brick mixed‑use building with 1 retail store and 1 apartment
- Vacant property being sold on behalf of the NYC tax lien trust
- Building department and HPD violations reported; property sold subject to violations and an active vacate order
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,341
Cap Rate
5.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$806,820
$806.8K
Cap Rate 7%
$576,300
$576.3K
Cap Rate 9%
$448,233
$448.2K
Market Conditions
NOI Build-Up for 2,260 SF
Gross rent
$67.8K $30.00/SF
− Vacancy
−$10.2K −$4.50/SF
EGI
$57.6K $25.50/SF
− OpEx
−$17.3K −$7.65/SF
NOI
$40.3K $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%
$806,820
Cap Rate 7%
$576,300
Cap Rate 9%
$448,233
Alternative Uses
Best Use
Retail
$576.3K
$504.3K – $672.4K
NOI $40,341 @ 7.0% cap · market cap 5.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.67M
$1.46M – $1.94M
NOI $116,627 @ 7.0% cap · market cap 16.68%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,983
Businesses Nearby
46k
Monthly Visits Nearby
Under-served
Demand for This Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
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- Brooklyn Decor & Events — 3390 Atlantic Ave, Brooklyn, NY 11208
- Fm Fulton Flower — 3330 Fulton St, Brooklyn, NY 11208
- Floristeria y Variedades Reyes — 77-11 Jamaica Ave, Woodhaven, NY 11421
Frequently Asked Questions
What type of property is this?
Storefront property - Two-story corner mixed-use building includes one retail store and one apartment, with vacancies and active city violations.
Where is this storefront property located?
The property is located at 198-09 Jamaica Avenue Hollis, NY.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 2‑story corner brick mixed‑use building with 1 retail store and 1 apartment; Vacant property being sold on behalf of the NYC tax lien trust; Building department and HPD violations reported; property sold subject to violations and an active vacate order
