Multifamily Property with Fenced
For Sale
$1,629,000
105-04 37th Avenue, Queens, NY 11368
The property includes partially finished space, hardwood flooring, and an eat-in kitchen with skylights.
Property Size3,004 SF
Price / SF$542.28
Days on Market1738
Property Features for 105-04 37th Avenue
General Information
Standard status
Active
Size
3,004 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$17,450
Amenities
Stone/Brick Wall, Stone/Brick Wall, Square Feet, 25x120.17
Partially Finished
Hardwood
Contemporary, Eat in Kitchen, Fenced, Gas Grill, Hardwood Floors As Seen, Other, Public, Sky Light
Gas Grill
3004
18
1 Common Wall
Skylight(s)
Eat-in Kitchen
Square Feet
Corner Apartment, Fenced, Fenced Yard, Hardwood Floors As Seen, Eat in Kitchen, Brownstone, Sky Light
Yes
Fenced
No
Brick, Vinyl Siding
No Garage, On Street, Fenced, Skylight(s), Stone/Brick Wall
Building Details
Year Built
1931
Listing Agency:
Voro LLC
Listed By:
Tapovardhan Pandey · License #40PA1163142
(877) 943-8676
Source:
Compass
Added: Dec 14, 2021
Changed: Sep 15
Last Checked: Sep 16 at 7:59PM
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 Voro LLC
Investment Insights
Based on property information with market context.
This multifamily property at 105-04 37th Avenue includes 3,004 square feet and was built in 1931. Interior details include partially finished space, hardwood floors, an eat-in kitchen, and skylights. The property also features a fenced yard, brick and vinyl siding, and a stone or brick wall.
There is no garage, with on-street parking identified. The property is situated near a market, school, transportation, and parks, providing access to several everyday destinations in the surrounding area.
There is no garage, with on-street parking identified. The property is situated near a market, school, transportation, and parks, providing access to several everyday destinations in the surrounding area.
Key Highlights
- 3,004 square feet of multifamily property
- Built in 1931
- Fenced yard with stone or brick wall
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
$73,431
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
4.51%
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%
$1,468,620
$1.5M
Cap Rate 7%
$1,049,014
$1.0M
Cap Rate 9%
$815,900
$815.9K
Market Conditions
NOI Build-Up for 3,004 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
$138.8K $46.20/SF
− Vacancy
−$5.3K −$1.76/SF
EGI
$133.5K $44.44/SF
− OpEx
−$60.1K −$20.00/SF
NOI
$73.4K $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%
$1,468,620
Cap Rate 7%
$1,049,014
Cap Rate 9%
$815,900
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$917.9K – $1.22M
NOI $73,431 @ 7.0% cap · market cap 4.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.21M
$1.94M – $2.58M
NOI $155,021 @ 7.0% cap · market cap 9.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - The property includes partially finished space, hardwood flooring, and an eat-in kitchen with skylights.
Where is this multifamily property located?
The property is located at 105-04 37th Avenue Queens, NY.
What is the asking price?
The asking price for this property is $1,629,000.
What are key features of this property?
This property features: 3,004 square feet of multifamily property; Built in 1931; Fenced yard with stone or brick wall
