Apartment Building with
For Sale
$1,980,000
101-64 123 Street, South Richmond Hill, NY 11419
The property includes a driveway, parking lot, and wall/window air-conditioning units.
Property Size3,265 SF
Days on Market39
Property Features for 101-64 123 Street
General Information
Standard status
Active
Size
3,265 SF
Total Parking Spaces
8
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,493
Amenities
Wall/Window Unit(s)
Hot Water
Finished
Eat-in Kitchen
Driveway, Garage, Parking Lot
Building Details
Building Size
3,265 SF
Year Built
1965
Listing Agency:
Winzone Realty Inc
Listed By:
Xiao Feng Pan CBR · License #31PA0929296
(718) 899-7000
Source:
Evrealestate
Added: Aug 17
Changed: Sep 24
Last Checked: Sep 24 at 2:51PM
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 Winzone Realty Inc
Investment Insights
Based on property information with market context.
This apartment building at 101-64 123 Street in Richmond Hill S., Queens, was built in 1965. Interior features include wall/window units, hot water, finished space, and an eat-in kitchen. Exterior parking improvements include a driveway, garage, and parking lot.
Directions reference exit 5 on 495 Highway.
Directions reference exit 5 on 495 Highway.
Key Highlights
- Apartment building constructed in 1965
- Driveway, garage, and parking lot
- Wall/window units and hot water
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
$79,811
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
4.03%
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%
$1,596,220
$1.6M
Cap Rate 7%
$1,140,157
$1.1M
Cap Rate 9%
$886,789
$886.8K
Market Conditions
NOI Build-Up for 3,265 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
$150.8K $46.20/SF
− Vacancy
−$5.7K −$1.76/SF
EGI
$145.1K $44.44/SF
− OpEx
−$65.3K −$20.00/SF
NOI
$79.8K $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 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%
$1,596,220
Cap Rate 7%
$1,140,157
Cap Rate 9%
$886,789
Alternative Uses
Best Use
Apartment 5plus
$1.14M
$997.6K – $1.33M
NOI $79,811 @ 7.0% cap · market cap 4.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.41M
$2.11M – $2.81M
NOI $168,490 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,918
Businesses Nearby
Explore this area
Business Placement
Demographics for 11419, NY
47,430
Population
13,607
Households
3.5
Avg Household Size
39
Median Age
21%
College-Educated
73%
High-School Grad
1.1 sq mi
ZIP Area
43,118
Density / Sq Mi
$91,231
Median Household Income
$41,091
Median Earnings
$1,920
Median Rent
$678,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - The property includes a driveway, parking lot, and wall/window air-conditioning units.
Where is this apartment building located?
The property is located at 101-64 123 Street South Richmond Hill, NY.
What is the asking price?
The asking price for this property is $1,980,000.
What are key features of this property?
This property features: Apartment building constructed in 1965; Driveway, garage, and parking lot; Wall/window units and hot water
