Duplex Property with Finished
For Sale
$1,488,000
122-11 26th Avenue, Flushing, NY 11354
Legal two-family home with separate utilities, private parking, and flexible interior space.
Property Size2,280 SF
Price / SF$652.63
Days on Market11
Property Features for 122-11 26th Avenue
General Information
Standard status
Active
Size
2,280 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$12,272
Building Details
Building Size
2,280 SF
Year Built
1986
Listing Agency:
E Realty International Corp
(646) 239-1110
Listed By:
Xiaoyue Ma
Source:
Cbwarburg
Added: Aug 21
Changed: Aug 30
Last Checked: Aug 24 at 10:18AM
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 E Realty International Corp
Investment Insights
Based on property information with market context.
This legal two-family, semi-detached brick duplex property was built in 1986 and includes three above-ground levels plus a fully finished basement. The first floor and rear section of the second floor create one two-bedroom, two-bathroom duplex with a primary suite. A second duplex occupies the third floor and front section of the second floor, offering three bedrooms and two bathrooms. The finished basement has high ceilings, large windows, and a separate entrance. A second-floor front balcony, attached private garage, driveway parking for two vehicles, and an extra-large backyard add functional outdoor and storage capacity.
The property is located in an R5 zoning district at 122-11 26th Avenue in Flushing, NY. Separate electric and gas meters serve the two-family configuration. Nearby shopping includes 7-Eleven, Target, and BJ’s Wholesale Club, while Flushing Main Street is approximately 10 minutes away. The Q26 bus is also minutes from the property.
The property is located in an R5 zoning district at 122-11 26th Avenue in Flushing, NY. Separate electric and gas meters serve the two-family configuration. Nearby shopping includes 7-Eleven, Target, and BJ’s Wholesale Club, while Flushing Main Street is approximately 10 minutes away. The Q26 bus is also minutes from the property.
Key Highlights
- Legal two‑family, semi‑detached brick property in an R5 zoning district
- Two duplex residences: one with 2 bedrooms and 2 full bathrooms; the other with 3 bedrooms and 2 full bathrooms
- Three above‑ground levels plus a fully finished basement with high ceilings, large windows, and separate entrance
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
$55,733
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
3.75%
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%
$1,114,660
$1.1M
Cap Rate 7%
$796,186
$796.2K
Cap Rate 9%
$619,256
$619.3K
Market Conditions
NOI Build-Up for 2,280 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
$105.3K $46.20/SF
− Vacancy
−$4.0K −$1.76/SF
EGI
$101.3K $44.44/SF
− OpEx
−$45.6K −$20.00/SF
NOI
$55.7K $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 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%
$1,114,660
Cap Rate 7%
$796,186
Cap Rate 9%
$619,256
Alternative Uses
Best Use
Apartment 5plus
$796.2K
$696.7K – $928.9K
NOI $55,733 @ 7.0% cap · market cap 3.75%
Second Best
Multifamily LT 5
$539.1K
$471.7K – $629.0K
NOI $37,738 @ 7.0% cap · market cap 2.54%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,659 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,264
Businesses Nearby
Explore this area
Business Placement
Demographics for 11354, NY
61,276
Population
22,979
Households
2.7
Avg Household Size
45
Median Age
33%
College-Educated
79%
High-School Grad
2.2 sq mi
ZIP Area
27,853
Density / Sq Mi
$62,833
Median Household Income
$40,404
Median Earnings
$1,766
Median Rent
$521,000
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?
Duplex - Legal two-family home with separate utilities, private parking, and flexible interior space.
Where is this duplex located?
The property is located at 122-11 26th Avenue Flushing, NY.
What is the asking price?
The asking price for this property is $1,488,000.
What are key features of this property?
This property features: Legal two‑family, semi‑detached brick property in an R5 zoning district; Two duplex residences: one with 2 bedrooms and 2 full bathrooms; the other with 3 bedrooms and 2 full bathrooms; Three above‑ground levels plus a fully finished basement with high ceilings, large windows, and separate entrance
