Spacious Apartment in Gorgeous
For Sale
$445,000
Pending
11007 73rd Rd 4D, Queens, NY 11375
Well-appointed apartment with large rooms, high ceilings, and modern kitchen.
Property Size950 SF
Lot Size0.54 Acres
Days on Market268
Property Features for 11007 73rd Rd 4D
General Information
Standard status
Pending
Size
950 SF
Lot size
0.54 Acres
Property subtype
Residential
Building Details
Building Size
950 SF
Year Built
1933
Listing Agency:
(646) 208-5182
Listed By:
Edward M. Azrilyan
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 13
Last Checked: Aug 22 at 9:58AM
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 Edward M. Azrilyan
Investment Insights
Based on property information with market context.
This approximately 950 square foot apartment features a large bedroom and living room, high ceilings, and original oak flooring, situated in the Wakefield area. The entryway, complete with a coat closet, leads to a large foyer and a brand new eat-in kitchen equipped with contemporary appliances and a dedicated space for a small dining table and chairs. The living room is generously sized with two large windows and sconce lighting. The residential area of the apartment is separated from the living area by a hallway that includes a bathroom and multiple closets. Adjacent to the hallway is a spacious bedroom with two closets and two large windows. The bedroom is exceptionally large and features large closets and two large brand new windows. No board approval is required for purchase.
Key Highlights
- No board approval required
- Large bedroom and living room offer comfortable living spaces
- Brand new, large eat‑in kitchen features contemporary appliances
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
$23,222
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
5.22%
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%
$464,440
$464.4K
Cap Rate 7%
$331,743
$331.7K
Cap Rate 9%
$258,022
$258.0K
Market Conditions
NOI Build-Up for 950 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
$43.9K $46.20/SF
− Vacancy
−$1.7K −$1.76/SF
EGI
$42.2K $44.44/SF
− OpEx
−$19.0K −$20.00/SF
NOI
$23.2K $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%
$464,440
Cap Rate 7%
$331,743
Cap Rate 9%
$258,022
Alternative Uses
Best Use
Apartment 5plus
$331.7K
$290.3K – $387.0K
NOI $23,222 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$700.4K
$612.8K – $817.1K
NOI $49,025 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,472
Businesses Nearby
Explore this area
Business Placement
Demographics for 11375, NY
72,851
Population
35,415
Households
2.1
Avg Household Size
43
Median Age
61%
College-Educated
93%
High-School Grad
2.4 sq mi
ZIP Area
30,355
Density / Sq Mi
$104,319
Median Household Income
$75,149
Median Earnings
$2,126
Median Rent
$572,800
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?
Apartment building - Well-appointed apartment with large rooms, high ceilings, and modern kitchen.
Where is this apartment building located?
The property is located at 11007 73rd Rd 4D Queens, NY.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: No board approval required; Large bedroom and living room offer comfortable living spaces; Brand new, large eat‑in kitchen features contemporary appliances
