Three-Unit Multifamily
For Sale
$1,700,000
1134 McBride Street, Far Rockaway, NY 11691
Purpose-built legal multifamily asset with separate unit layouts and contemporary finishes throughout.
Property Size3,087 SF
Days on Market25
Property Features for 1134 McBride Street
General Information
Standard status
Active
Size
3,087 SF
Total Parking Spaces
1
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$1,002,232
Building Details
Building Size
3,087 SF
Year Built
2019
Units
3
Tenancy
Multi
Listing Agency:
Real Broker NY LLC
(347) 461-8161
Listed By:
Monica Soyemi
(347) 461-8161
Source:
Cohenandcohenrealty
Added: Jul 16
Changed: Aug 3
Last Checked: Aug 8 at 12:27PM
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 Real Broker NY LLC
Investment Insights
Based on property information with market context.
This legal three-family property was built in 2019 and contains 11 total rooms and 6 bathrooms across three separately configured residences. The unit mix includes one three-bedroom, one-bathroom apartment and two four-bedroom, two-bathroom apartments. Modern finishes are incorporated throughout the building, supporting a contemporary multifamily presentation.
The property is situated in Far Rockaway, with access to transit, shopping, and the beach noted in the surrounding context. Its three-unit configuration accommodates multifamily ownership and rental-income use, with layouts that provide flexibility for different occupancy arrangements.
The property is situated in Far Rockaway, with access to transit, shopping, and the beach noted in the surrounding context. Its three-unit configuration accommodates multifamily ownership and rental-income use, with layouts that provide flexibility for different occupancy arrangements.
Key Highlights
- Legal three‑family property built in 2019
- Three units with 11 total rooms and 6 bathrooms
- Unit 1: 3 bedrooms and 1 bathroom
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
$75,460
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
4.44%
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%
$1,509,200
$1.5M
Cap Rate 7%
$1,078,000
$1.1M
Cap Rate 9%
$838,444
$838.4K
Market Conditions
NOI Build-Up for 3,087 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
$142.6K $46.20/SF
− Vacancy
−$5.4K −$1.76/SF
EGI
$137.2K $44.44/SF
− OpEx
−$61.7K −$20.00/SF
NOI
$75.5K $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%
$1,509,200
Cap Rate 7%
$1,078,000
Cap Rate 9%
$838,444
Alternative Uses
Best Use
Apartment 5plus
$1.08M
$943.3K – $1.26M
NOI $75,460 @ 7.0% cap · market cap 4.44%
Second Best
Multifamily LT 5
$729.9K
$638.7K – $851.6K
NOI $51,095 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$2.28M
$1.99M – $2.66M
NOI $159,304 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,041
Businesses Nearby
Explore this area
Business Placement
Demographics for 11691, NY
64,673
Population
23,400
Households
2.8
Avg Household Size
34
Median Age
23%
College-Educated
78%
High-School Grad
2.7 sq mi
ZIP Area
23,953
Density / Sq Mi
$57,027
Median Household Income
$40,366
Median Earnings
$1,444
Median Rent
$649,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Purpose-built legal multifamily asset with separate unit layouts and contemporary finishes throughout.
Where is this triplex located?
The property is located at 1134 McBride Street Far Rockaway, NY.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Legal three‑family property built in 2019; Three units with 11 total rooms and 6 bathrooms; Unit 1: 3 bedrooms and 1 bathroom
