Modern Beechhurst Three-Family Brick
For Sale
$1,890,000
1009 166th St, Queens, NY 11357
Three-story, three-family building in Beechhurst with modern amenities.
Property Size3,762 SF
Lot Size0.07 Acres
Days on Market267
Property Features for 1009 166th St
General Information
Standard status
Active
Size
3,762 SF
Lot size
0.07 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$14,409
Building Details
Building Size
3,762 SF
Year Built
1985
Units
3
Listing Agency:
(917) 238-0155
Listed By:
Hsin Kuei Liu SRS
(917) 238-0155
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 16
Last Checked: Aug 22 at 11:48AM
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 Hsin Kuei Liu SRS
Investment Insights
Based on property information with market context.
This is a modern 3-story brick three-family residential building located in Beechhurst. The building offers approximately 3,762 sqft of combined living space, with each of the 3 residential units featuring 3 bedrooms and 2 bathrooms. The property also includes a finished walk-out basement. There are 2 attached garage spaces and one additional parking space. Situated on a 2,359 sqft lot in R4 zoning, this property is located in northern Queens, offering suburban charm and city convenience. Nearby waterfront parks provide views of the East River and the Throgs Neck Bridge. The area features international restaurants and shopping establishments. Commuting is facilitated by express buses to Manhattan, as well as Q-15/61 local buses for connections to the #7 train and the LIRR. This property presents an opportunity for homeowners or investors.
Key Highlights
- Rent‑generating three‑family brick building
- Each unit features 3 bedrooms and 2 bathrooms
- Approximately 3,762 sqft of combined living space plus finished walk‑out basement
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
$91,960
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
4.87%
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%
$1,839,200
$1.8M
Cap Rate 7%
$1,313,714
$1.3M
Cap Rate 9%
$1,021,778
$1.0M
Market Conditions
NOI Build-Up for 3,762 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
$173.8K $46.20/SF
− Vacancy
−$6.6K −$1.76/SF
EGI
$167.2K $44.44/SF
− OpEx
−$75.2K −$20.00/SF
NOI
$92.0K $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%
$1,839,200
Cap Rate 7%
$1,313,714
Cap Rate 9%
$1,021,778
Alternative Uses
Best Use
Apartment 5plus
$1.31M
$1.15M – $1.53M
NOI $91,960 @ 7.0% cap · market cap 4.87%
Second Best
Multifamily LT 5
$889.5K
$778.3K – $1.04M
NOI $62,267 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$2.77M
$2.43M – $3.24M
NOI $194,137 @ 7.0% cap · market cap 10.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,607
Businesses Nearby
Explore this area
Business Placement
Demographics for 11357, NY
42,319
Population
16,586
Households
2.6
Avg Household Size
46
Median Age
38%
College-Educated
86%
High-School Grad
2.8 sq mi
ZIP Area
15,114
Density / Sq Mi
$97,754
Median Household Income
$58,814
Median Earnings
$2,228
Median Rent
$920,200
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 - Three-story, three-family building in Beechhurst with modern amenities.
Where is this triplex located?
The property is located at 1009 166th St Queens, NY.
What is the asking price?
The asking price for this property is $1,890,000.
What are key features of this property?
This property features: Rent‑generating three‑family brick building; Each unit features **3 bedrooms and 2 bathrooms**; Approximately **3,762 sqft of combined living space** plus finished walk‑out basement
