Legal Three-Family
For Sale
$1,600,000
1134 McBride Street, Far Rockaway, NY 11691
Purpose-built multifamily property with separate residences and contemporary interior finishes.
Property Size3,087 SF
Days on Market47
Property Features for 1134 McBride Street
General Information
Standard status
Active
Size
3,087 SF
Total Parking Spaces
1
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/1BA, 2 x 4BR/2BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$1,002,232
Building Details
Building Size
3,087 SF
Year Built
2019
Units
3
Listing Agency:
Real Broker NY LLC
(347) 461-8161
Listed By:
Monica Soyemi
(347) 461-8161
Source:
Professionalchoicerealty
Added: Jul 16
Changed: Aug 28
Last Checked: Aug 29 at 10:22AM
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.
Completed in 2019, this legal triplex contains three separately configured residences with a combined 11 rooms and 6 bathrooms. The unit mix includes one three-bedroom, one-bath residence and two four-bedroom residences, each with two bathrooms. Modern finishes are incorporated throughout the property, supporting a clean, contemporary presentation for multifamily occupancy.
The property is situated in Far Rockaway, with shopping, transit, and the beach identified as nearby area amenities. Its three-unit arrangement offers distinct residential layouts within one purpose-built building.
The property is situated in Far Rockaway, with shopping, transit, and the beach identified as nearby area amenities. Its three-unit arrangement offers distinct residential layouts within one purpose-built building.
Key Highlights
- Legal 3‑family triplex completed in 2019
- Three separate residential units with 11 total rooms and 6 bathrooms
- Unit mix includes one 3‑bedroom/1‑bath unit and two 4‑bedroom/2‑bath units
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
4.72%
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 4.72%
Second Best
Multifamily LT 5
$729.9K
$638.7K – $851.6K
NOI $51,095 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$2.28M
$1.99M – $2.66M
NOI $159,304 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,905
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
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Frequently Asked Questions
What type of property is this?
Triplex - Purpose-built multifamily property with separate residences and contemporary interior finishes.
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 $1,600,000.
What are key features of this property?
This property features: Legal 3‑family triplex completed in 2019; Three separate residential units with 11 total rooms and 6 bathrooms; Unit mix includes one 3‑bedroom/1‑bath unit and two 4‑bedroom/2‑bath units
