Retail and Multifamily Two-Building
For Sale
$7,800,000
101-19/17 37th Ave, Queens, NY 11368
Package includes two buildings with two storefronts and seven apartments.
Property Size12,005 SF
Days on Market108
Property Features for 101-19/17 37th Ave
General Information
Standard status
Active
Size
12,005 SF
Property subtype
Commercial
Units
Multifamily Units
7
Office Units
2
Additional Details
Cap Rate
5.2%
Taxes and HOA fees
Annual Taxes
$41,875
Building Details
Building Size
12,005 SF
Year Built
2006
Units
7
Listed By:
Kai Wong
(718) 888-2965
Source:
Elliman
Added: Jul 16
Changed: Oct 25
Last Checked: Oct 30 at 3:23PM
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 Kai Wong
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Investment Insights
Based on property information with market context.
Two-building for-sale package featuring retail storefront space paired with residential income. The property includes one storefront and four apartments at 101-19/17 37th Ave, and one storefront and three apartments at 101-17/17 37th Ave. The listing is presented as an investment offering with a stated cap rate of 5.2%.
The seller describes the location as highly walkable and well-served for mobility, with Walk Score of 89, Bike Score of 70, and Transit Score of 85. The buildings are located in Queens at 101-19/17 37th Ave, NY 11368.
The seller describes the location as highly walkable and well-served for mobility, with Walk Score of 89, Bike Score of 70, and Transit Score of 85. The buildings are located in Queens at 101-19/17 37th Ave, NY 11368.
Key Highlights
- Package of two buildings (101‑19/17 37th Ave) built in 2006
- Total 2 storefronts and 7 apartments across both buildings
- 101‑19 37th Ave: 1 storefront and 4 apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$293,455
Cap Rate
3.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,869,100
$5.9M
Cap Rate 7%
$4,192,214
$4.2M
Cap Rate 9%
$3,260,611
$3.3M
Market Conditions
NOI Build-Up for 12,005 SF
Gross rent
$554.6K $46.20/SF
− Vacancy
−$21.1K −$1.76/SF
EGI
$533.6K $44.44/SF
− OpEx
−$240.1K −$20.00/SF
NOI
$293.5K $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 Rate 5%
$5,869,100
Cap Rate 7%
$4,192,214
Cap Rate 9%
$3,260,611
Alternative Uses
Best Use
Apartment 5plus
$4.19M
$3.67M – $4.89M
NOI $293,455 @ 7.0% cap · market cap 3.76%
Second Best
Retail
$3.06M
$2.68M – $3.57M
NOI $214,289 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$8.85M
$7.74M – $10.33M
NOI $619,516 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Office units
7
Residential units
Location Intelligence
Trade Area within ½ mile
7,621
Businesses Nearby
Explore this area
Business Placement
Demographics for 11368, NY
117,110
Population
31,165
Households
3.8
Avg Household Size
34
Median Age
14%
College-Educated
65%
High-School Grad
2.6 sq mi
ZIP Area
45,042
Density / Sq Mi
$71,798
Median Household Income
$33,742
Median Earnings
$1,925
Median Rent
$751,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Package includes two buildings with two storefronts and seven apartments.
Where is this apartment building located?
The property is located at 101-19/17 37th Ave Queens, NY.
What is the asking price?
The asking price for this property is $7,800,000.
What are key features of this property?
This property features: Package of two buildings (101‑19/17 37th Ave) built in 2006; Total 2 storefronts and 7 apartments across both buildings; 101‑19 37th Ave: 1 storefront and 4 apartments
