Duplex Property With Buildable
For Sale
$750,000
109-29 205th Street, Queens Village, NY 11412
B3-zoned two-family property with additional development capacity on its existing lot.
Property Size1,728 SF
Lot Size0.07 Acres
Price / SF$431.03
Days on Market16
Property Features for 109-29 205th Street
General Information
Standard status
Active
Size
1,728 SF
Lot size
0.07 Acres
Property subtype
Residential Income
Zoning
B3
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,960
Building Details
Building Size
1,728 SF
Year Built
1930
Buildings
1
Units
2
Listing Agency:
Greene Realty Group
(888) 278-5840
Listed By:
Derek J. Greene · License #10371200613
(888) 278-5840
Source:
Professionalchoicerealty
Added: Aug 14
Changed: Aug 28
Last Checked: Aug 28 at 3:03PM
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 Greene Realty Group
Investment Insights
Based on property information with market context.
This duplex property comprises a 1,740-square-foot two-family conversion completed in 1930. The site contains 3,000 square feet of lot area and is subject to an FAR of .75, supporting a maximum allowable build of 2,250 square feet.
The existing configuration leaves 510 square feet of buildable area within the stated development limit. The property is identified as B3 and is located at 109-29 205th Street in Queens Village, New York 11412.
The existing configuration leaves 510 square feet of buildable area within the stated development limit. The property is identified as B3 and is located at 109-29 205th Street in Queens Village, New York 11412.
Key Highlights
- 1,740 square feet in a two‑family conversion
- 3,000‑square‑foot lot with .75 FAR
- 510 square feet of additional buildable area
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
$42,533
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
5.67%
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%
$850,660
$850.7K
Cap Rate 7%
$607,614
$607.6K
Cap Rate 9%
$472,589
$472.6K
Market Conditions
NOI Build-Up for 1,740 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
$80.4K $46.20/SF
− Vacancy
−$3.1K −$1.76/SF
EGI
$77.3K $44.44/SF
− OpEx
−$34.8K −$20.00/SF
NOI
$42.5K $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 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%
$850,660
Cap Rate 7%
$607,614
Cap Rate 9%
$472,589
Alternative Uses
Best Use
Apartment 5plus
$607.6K
$531.7K – $708.9K
NOI $42,533 @ 7.0% cap · market cap 5.67%
Second Best
Multifamily LT 5
$411.4K
$360.0K – $480.0K
NOI $28,800 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,792 @ 7.0% cap · market cap 11.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,605
Businesses Nearby
Explore this area
Business Placement
Demographics for 11412, NY
37,958
Population
12,821
Households
3
Avg Household Size
41
Median Age
25%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
23,724
Density / Sq Mi
$98,418
Median Household Income
$48,243
Median Earnings
$1,630
Median Rent
$633,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - B3-zoned two-family property with additional development capacity on its existing lot.
Where is this duplex located?
The property is located at 109-29 205th Street Queens Village, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 1,740 square feet in a two‑family conversion; 3,000‑square‑foot lot with .75 FAR; 510 square feet of additional buildable area
