Investment Overview

The subject offering is a 4,100 square foot five-tenant retail strip and a 1,650 square foot two-family located on the corner of Hillside Avenue and 191st Street is Hollis, Queens. Both properties are currently 100% occupied with below market rents on month-to-month leases. 190-12 Hillside Avenue is a corner building consisting of 4,100 square feet of ground-floor retail space with 100 feet of frontage on Hillside Avenue. 88-02 191st Street sits behind 190-12 Hillside Avenue and consist of two apartments that are both two bedrooms and have been recently renovated. Both properties lie on the same tax lot together. Both buildings rest together on a 6,900 square foot lot (100 ft x 69 ft) that is zoned R6A, C2-4, DJ. The FAR is 3, allowing for 20,700 total square feet to be built. The subject offering is directly across the street from new luxury mixed-use building being built that is offering 93 residence units and 20,000 square feet being offered to retail and office space. This is a value-add opportunity to acquire two buildings on Hillside Avenue that allow you to instantly increase cash flow and allow for future development.