Brick Duplex With Freestanding
For Sale
$1,599,000
12304 6th Avenue, College Point, NY 11356
The property includes a freestanding house and garage on an R3A-zoned lot.
Property Size2,981 SF
Lot Size0.11 Acres
Price / SF$551.38
Days on Market139
Property Features for 12304 6th Avenue
General Information
Standard status
Active
Size
2,981 SF
Lot size
0.11 Acres
Property subtype
Duplex
Zoning
R3A
Taxes and HOA fees
Annual Taxes
$8,790
Building Details
Building Size
2,981 SF
Year Built
2013
Buildings
2
Construction
red brick
Listing Agency:
Greene Realty Group
(860) 560-1006
Listed By:
Derek J. Greene · License #REB.0758797
Source:
Serhant
Added: Mar 25
Changed: Aug 10
Last Checked: Aug 10 at 4:26AM
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 Greene Realty Group
Investment Insights
Based on property information with market context.
This duplex property was built in 2013 and includes 2 freestanding buildings: a house and a garage. The improvements feature red brick exterior walls, with 2,900 finished square feet across the property. The lot measures 50x100 ft and carries R3A zoning.
Located at 12304 6th Avenue in College Point, NY 11356, the property combines a duplex classification with a separate freestanding garage on the same lot.
Located at 12304 6th Avenue in College Point, NY 11356, the property combines a duplex classification with a separate freestanding garage on the same lot.
Key Highlights
- Duplex property with 2 freestanding buildings
- 2,900 finished square feet
- Freestanding house and garage on the lot
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
$70,889
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
4.43%
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%
$1,417,780
$1.4M
Cap Rate 7%
$1,012,700
$1.0M
Cap Rate 9%
$787,656
$787.7K
Market Conditions
NOI Build-Up for 2,900 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
$134.0K $46.20/SF
− Vacancy
−$5.1K −$1.76/SF
EGI
$128.9K $44.44/SF
− OpEx
−$58.0K −$20.00/SF
NOI
$70.9K $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%
$1,417,780
Cap Rate 7%
$1,012,700
Cap Rate 9%
$787,656
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$886.1K – $1.18M
NOI $70,889 @ 7.0% cap · market cap 4.43%
Second Best
Multifamily LT 5
$685.7K
$600.0K – $800.0K
NOI $48,000 @ 7.0% cap · market cap 3.00%
Theoretical Best
Office A
$2.14M
$1.87M – $2.49M
NOI $149,654 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
944
Businesses Nearby
Explore this area
Business Placement
Demographics for 11356, NY
28,310
Population
9,003
Households
3.1
Avg Household Size
37
Median Age
25%
College-Educated
78%
High-School Grad
1.6 sq mi
ZIP Area
17,694
Density / Sq Mi
$91,445
Median Household Income
$40,928
Median Earnings
$2,160
Median Rent
$893,100
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 - The property includes a freestanding house and garage on an R3A-zoned lot.
Where is this duplex located?
The property is located at 12304 6th Avenue College Point, NY.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Duplex property with 2 freestanding buildings; 2,900 finished square feet; Freestanding house and garage on the lot
