Renovated Automotive Warehouse with
For Sale
$3,699,000
205-02 Jamaica Avenue, Hollis, NY 11423
SINGLE_FAMILY - Hollis, NY
Property Size4,690 SF
Lot Size0.11 Acres
Price / SF$788.70
Days on Market180
Property Features for 205-02 Jamaica Avenue
General Information
Property type
Residential
Property subtype
Retail
Zoning
C8-1
Rooms
Basement
Basement
Storage Space
Standard status
Active
APN
10834-0031
Size
4,690 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
78904
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1925
Number of units
1
Building materials
Brick
Listing Agency:
Charles Rutenberg Realty, Inc.
(718) 994-4002
Listed By:
Mariah Grossman
(917) 373-7948
Added: Feb 13
Changed: May 12
Last Checked: Aug 12 at 6:06PM
MLS# 961599
Copyright © 2026 OneKey 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 renovated brick building in Hollis features a roll-up door and is currently configured as an automotive office warehouse. The interior spans 4690 square feet across two stories, offering both warehouse and retail exposure. The property includes parking space for 5 cars, and a 100 x 30 parking lot with an overhead gate adjacent to the building is also included in the sale. The property is located in a busy and excellent location. The building is currently fully leased, with a clause allowing either the landlord or tenant to terminate the lease with three months' notice. There is potential to deliver the property fully vacant. The property is zoned C8-1 and sits on a lot of 0.1065 acres.
Key Highlights
- Potential to deliver fully vacant, offering immediate flexibility.
- Excellent, busy location with retail exposure.
- Substantial 4690 SF two‑story interior space.
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
$154,413
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
4.17%
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%
$3,088,260
$3.1M
Cap Rate 7%
$2,205,900
$2.2M
Cap Rate 9%
$1,715,700
$1.7M
Market Conditions
NOI Build-Up for 4,690 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
$236.4K $50.40/SF
− Vacancy
−$30.5K −$6.50/SF
EGI
$205.9K $43.90/SF
− OpEx
−$51.5K −$10.97/SF
NOI
$154.4K $32.92/SF
Area
Queens County, NY
Vacancy
12.90%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
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%
$3,088,260
Cap Rate 7%
$2,205,900
Cap Rate 9%
$1,715,700
Alternative Uses
Best Use
Office B
$2.21M
$1.93M – $2.57M
NOI $154,413 @ 7.0% cap · market cap 4.17%
Second Best
Retail
$1.20M
$1.05M – $1.40M
NOI $83,717 @ 7.0% cap · market cap 2.26%
Theoretical Best
Office A
$3.46M
$3.03M – $4.03M
NOI $242,027 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,774
Businesses Nearby
Well-served
Demand for This Use
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Renovated mixed-use building with parking in excellent location.
Where is this auto shop located?
The property is located at 205-02 Jamaica Avenue Hollis, NY.
What is the asking price?
The asking price for this property is $3,699,000.
What are key features of this property?
This property features: Potential to deliver fully vacant, offering immediate flexibility.; Excellent, busy location with retail exposure.; Substantial 4690 SF two‑story interior space.
