Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    11-41 123Rd St Bayside, NY 11356

    View on Map
    Sponsored
    For Sale
    $1,848,888

    MULTI_FAMILY - Bayside, NY

    Days on Market:
    1
    Last Refresh:
    Mar 19 at 2:06 pm

    Property Features for 11-41 123Rd St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 18, Bathroom 2, Bedroom 15, Bedroom 10, Bedroom 4, Bedroom 17, Bathroom 6, Bedroom 16, Bedroom 14, Bathroom 7, Bathroom 3, Bedroom 5, Bedroom 7, Bedroom 9, Bedroom 8, Bedroom 3, Bathroom 4, Basement, Bedroom 1, Bathroom 1, Bedroom 11, Bedroom 2, Bedroom 12, Bedroom 13, Bathroom 5, Bedroom 6
    Bedrooms
    18
    Bathrooms
    7
    APN
    03997-0040
    Parking features
    Driveway
    Basement
    Full, Finished

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Oil
    Water source
    Public

    Building Details

    Year built
    1857
    Number of units
    7
    Building materials
    Brick

    We can help!

    Listing Contact
    Deirdre A. Folan

    Keller Williams Realty Landmark (718) 475-2777

    Listing agent Deirdre A. Folan (917) 251-4499

    Listing date Mar 19, 2026

    MLS# 942874

    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.

    Learn more

    Property Insight Report

    Overview

    Legal 7-Family Investment Property

    This detached, all-brick, legal 7-family investment property is located in the heart of College Point. All apartments are currently vacant. The property features sunny rooms with high ceilings and spacious layouts throughout. The main level includes two apartments, each with a living room with fireplace, an open and updated kitchen, two bedrooms, a sunroom/office, and a bath. The second level also features two apartments, each with a living room with fireplace, an open and updated kitchen, two bedrooms, and a bath. The third level contains two apartments, each with three bedrooms. The walk-in level includes an additional apartment with a living room, kitchen, and four bedrooms. There is also an additional finished basement with a separate entrance. The property has an updated heating system and updated electric. Multiple entrances are located at the front and back of the building. A long, private driveway provides parking for multiple cars. The location is convenient, close to shopping and transportation, with easy access to Flushing/Main Street buses, subway, and train. This property offers great potential and is ideal for a 1031 exchange.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bayside
    County
    Queens
    State
    New York
    Longitude
    -73.844856
    Latitude
    40.7868

    Nearby Similar for Sale

    • $10,988,000
      5,000 SF

      Modern Commercial Portfolio on Northern Boulevard

      Three-building commercial portfolio with high visibility and upside potential.
      210-08/12 Northern Boulevard, Bayside, NY 11361
      View Details
    • $550,000
      3,000 SF

      Nail Salon Business Opportunity

      Established nail salon business for sale in Bayside, NY.
      203-06 45Th Ave, Bayside, NY 11361
      View Details
    • $300,000
      1,100 SF

      Bayside Business Opportunity For Sale

      Restaurant and bar business opportunity in Bayside, Queens.
      4009 Bell Blvd, Bayside, NY 11361
      View Details
    • New
      $2,588,000
      3,383 SF

      New Bayside Three-Family Residence

      New three-family residence near LIRR, stores, restaurants, and Manhattan.
      37-08 Francis Lewis Blvd, Bayside, NY 11361
      View Details
    • $428,000
      1,500 SF

      Bayside Office in Co-op Building

      Prime commercial office space near Bell Terrace Shopping Center.
      21230 23Rd Ave, Bayside, NY 11360
      View Details
    • $755,000
      2,000 SF

      Turn-Key Dessert Business Opportunity

      Profitable franchise dessert business in prime Bayside location.
      213-11 Northern Blvd, Bayside, NY 11361
      View Details
    • $178,000
      4,280 SF

      Turnkey Restaurant in Prime Location

      Fully equipped restaurant in Bayside's busiest commercial strip.
      4218 Bell Blvd, Bayside, NY 11361
      View Details
    • $1,628,000
      2,628 SF

      Bayside Legal Two-Family Home

      Well-maintained two-family with triplex, rental unit, garages, near amenities.
      21540 23Rd Ave, Bayside, NY 11360
      View Details
    • New
      $2,190,000
      0.09 Acres

      Bayside Two-Family Home For Sale

      Two-family home in Bayside, rebuilt in 2017, near LIRR.
      39-12 215Th Pl, Bayside, NY 11361
      View Details
    • New
      $2,398,888

      New Bayside Three-Family Residence

      Brand-new three-family residence near LIRR, stores, and restaurants.
      37-02 Francis Lewis Blvd, Bayside, NY 11361
      View Details
    • New
      $1,538,888
      0.05 Acres

      Bayside Two-Family Brick Home

      Well-maintained two-family home in the heart of Bayside.
      210-08 41St Ave, Bayside, NY 11361
      View Details
    • $1,698,000

      Bayside Multi-Unit Home For Sale

      Two-family home in Bay Terrace with income potential.
      215-03 17Th Ave, Bayside, NY 11360
      View Details

    FAQs

    What type of property is this?
    Apartment building - Unique investment opportunity in Bayside, featuring vacant apartments.
    Where is this apartment building located?
    The property is located at 11-41 123Rd St Bayside, NY.
    What is the asking price?
    The asking price for this property is $1,848,888.
    What are key features of this property?
    This property features: - Vacant 7-family detached brick building - ready for immediate occupancy/rental.; - Legal 7-family landmark property - a unique investment opportunity.; - Updated heating and electric systems - reduces immediate renovation costs.
    (718) 475-2700
    Request Owner's contact information
    11-41 123Rd St Bayside, NY 11356
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    11-41 123Rd St
    Bayside, NY 11356
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    11-41 123Rd St Bayside, NY 11356
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Deirdre A. Folan
    (718) 475-2700 (917) 251-4499
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!