Spacious 2-Bedroom Co-op in
For Sale
$430,000
62-59 108th St 4N, Queens, NY 11375
Over 1,100 sq ft, updated kitchen, great location.
Property Size1,100 SF
Days on Market269
Property Features for 62-59 108th St 4N
General Information
Standard status
Active
Size
1,100 SF
Property subtype
Residential
Building Details
Building Size
1,100 SF
Year Built
1950
Listing Agency:
(917) 547-1555
Listed By:
Milana Sadykova
(917) 547-1555
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 9
Last Checked: Aug 23 at 6:03AM
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 Milana Sadykova
Investment Insights
Based on property information with market context.
This oversized JR4 2-bedroom, 1-bath co-op offers over 1,100 square feet of living space in a well-maintained building. The unit features an updated eat-in kitchen with granite countertops and stainless steel appliances. The layout provides room to live, work, and relax. The property benefits from sun-drenched rooms, closet space, and hardwood floors under the carpeting. Located near shops, restaurants, schools, transportation, and houses of worship, this home offers convenience in a vibrant neighborhood. Subletting is allowed indefinitely after 2 years of ownership. The building has low maintenance fees.
Key Highlights
- Spacious: Over 1,100 sq ft JR4 2‑Bedroom Co‑op
- Updated Eat‑in Kitchen: Features granite countertops and stainless steel appliances
- Prime Location: Steps from shops, restaurants, schools, transportation, and houses of worship
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
$26,889
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
6.25%
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%
$537,780
$537.8K
Cap Rate 7%
$384,129
$384.1K
Cap Rate 9%
$298,767
$298.8K
Market Conditions
NOI Build-Up for 1,100 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
$50.8K $46.20/SF
− Vacancy
−$1.9K −$1.76/SF
EGI
$48.9K $44.44/SF
− OpEx
−$22.0K −$20.00/SF
NOI
$26.9K $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%
$537,780
Cap Rate 7%
$384,129
Cap Rate 9%
$298,767
Alternative Uses
Best Use
Apartment 5plus
$384.1K
$336.1K – $448.2K
NOI $26,889 @ 7.0% cap · market cap 6.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$810.9K
$709.6K – $946.1K
NOI $56,765 @ 7.0% cap · market cap 13.20%
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 - Over 1,100 sq ft, updated kitchen, great location.
Where is this apartment building located?
The property is located at 62-59 108th St 4N Queens, NY.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Spacious: Over 1,100 sq ft JR4 2‑Bedroom Co‑op; Updated Eat‑in Kitchen: Features granite countertops and stainless steel appliances; Prime Location: Steps from shops, restaurants, schools, transportation, and houses of worship
