Building Details

Building Size 1,424 SF

Year Built 1940

Listing Agency: NMG Properties Inc.

Listed By: Natasha Green Show Phone

Source: Nmgproperties

Added: Mar 3 Changed: Oct 30 Last Checked: Oct 30 at 1:50AM

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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 NMG Properties Inc.

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Investment Insights

Based on property information with market context.

This 1,424-square-foot duplex, built in 1940, includes central air conditioning and two full bathrooms. The finished basement has marble flooring, while attic storage provides additional space. A private backyard and a one-car garage at the rear are also part of the property.

Located at 115-78 222nd Street in Cambria Heights, the property is near schools, shopping, public transportation, major roadways, local parks, and JFK Airport.

Key Highlights

• 1,424 square feet; built in 1940
• Finished basement with marble flooring and attic storage
• Central air conditioning and two full bathrooms

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$34,809

Cap Rate

4.10%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$696,180 $696.2K

Cap Rate 7%

$497,271 $497.3K

Cap Rate 9%

$386,767 $386.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,424 SF

Gross rent

$65.8K $46.20/SF

− Vacancy

−$2.5K −$1.76/SF

EGI

$63.3K $44.44/SF

− OpEx

−$28.5K −$20.00/SF

NOI

$34.8K $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 Rate 5%

$696,180

Cap Rate 7%

$497,271

Cap Rate 9%

$386,767

Alternative Uses

Best Use

Apartment 5plus

$497.3K

$435.1K – $580.2K (±1% cap)

NOI $34,809 @ 7.0% cap · market cap 4.10%

Second Best

Multifamily LT 5

$336.7K

$294.6K – $392.8K (±1% cap)

NOI $23,569 @ 7.0% cap · market cap 2.77%

Theoretical Best

Office A

$1.05M

$918.6K – $1.22M (±1% cap)

NOI $73,485 @ 7.0% cap · market cap 8.65%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Location Intelligence

Trade Area within ½ mile

892

Businesses Nearby

Explore this area Business Placement

Demographics for 11411, NY

19,579

Population

6,775

Households

2.9

Avg Household Size

45

Median Age

36%

College-Educated

92%

High-School Grad

1.2 sq mi

ZIP Area

16,316

Density / Sq Mi

$118,393

Median Household Income

$52,378

Median Earnings

$1,605

Median Rent

$621,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Duplex - Central air, a private backyard, and a rear garage add useful features to this residential property.

Where is this duplex located?

The property is located at 115-78 222nd Street Cambria Heights, NY.

What is the asking price?

The asking price for this property is $850,000.

What are key features of this property?

This property features: 1,424 square feet; built in 1940; Finished basement with marble flooring and attic storage; Central air conditioning and two full bathrooms