Building Details

Building Size 600 SF

Year Built 1950

Listed By: Anne Akde-Donohue Show Phone

Source: Elliman

Added: Nov 28, 2025 Changed: Sep 28 Last Checked: Oct 7 at 12:03PM

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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 Anne Akde-Donohue

Investment Insights

Based on property information with market context.

This is an upper unit featuring a kitchen, living room, two bedrooms, and a full bath. The property is located in Bell Park Manor Terrace and is positioned close to shops, schools, and transportation options.

Key Highlights

• Spacious 2 Bedrooms
• Garden Apartment
• Located in Bell Park Manor Terrace

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,667

Cap Rate

5.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$293,340 $293.3K

Cap Rate 7%

$209,529 $209.5K

Cap Rate 9%

$162,967 $163.0K

Market Conditions

NOI Build-Up for 600 SF

Gross rent

$27.7K $46.20/SF

− Vacancy

−$1.1K −$1.76/SF

EGI

$26.7K $44.44/SF

− OpEx

−$12.0K −$20.00/SF

NOI

$14.7K $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%

$293,340

Cap Rate 7%

$209,529

Cap Rate 9%

$162,967

Alternative Uses

Best Use

Apartment 5plus

$209.5K

$183.3K – $244.5K (±1% cap)

NOI $14,667 @ 7.0% cap · market cap 5.87%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$442.3K

$387.0K – $516.1K (±1% cap)

NOI $30,963 @ 7.0% cap · market cap 12.39%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Law Firm Skin Care Clinic Dental Office Gym & Fitness Center Parking Lot & Garage Acupuncture

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,658

Businesses Nearby

Explore this area Business Placement

Demographics for 11429, NY

25,895

Population

8,601

Households

3

Avg Household Size

41

Median Age

27%

College-Educated

84%

High-School Grad

1.3 sq mi

ZIP Area

19,919

Density / Sq Mi

$98,232

Median Household Income

$45,053

Median Earnings

$1,605

Median Rent

$646,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Apartment building - Upper unit with two bedrooms, close to amenities.

Where is this apartment building located?

The property is located at 225-08 88th Ave Upper Queens, NY.

What is the asking price?

The asking price for this property is $250,000.

What are key features of this property?

This property features: Spacious 2 Bedrooms; Garden Apartment; Located in Bell Park Manor Terrace