Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    86-30 Grand Ave, Unit 10 Elmhurst, NY 11373

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $5,800,000

    Ten-unit multifamily property in a prime residential area, rebuilt in 2018.

    Property Features for 86-30 Grand Ave

    General Information

    Standard status
    Active

    Building Details

    Year built
    1945

    We can help!

    Listing Contact
    Jimmy Q. Liu
    Jimmy Q. Liu
    Source: Exitrealty

    Listing Agency: Century 21 Sunshine Realty Listing Agent: Jimmy Q. Liu

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Elmhurst Multifamily Property Rebuilt 2018

    This ten-unit building, completely rebuilt in 2018, is located in a safe neighborhood in a prime residential area with convenient access to stores and transportation. The property features two one-bedroom apartments, seven two-bedroom apartments, and one studio. Six units include two bathrooms. All units are currently rented to responsible tenants at market prices, with tenants responsible for their own utilities. The apartments feature large windows for bright rooms, tiled floors, and stainless steel appliances. The property offers an open city view. Transportation is readily accessible with nearby subway and bus stations, and the Queens Shopping Center is located just around the corner. The property is also near schools. There are four parking spaces located in the back. The property is extra long and includes a large uplifted and landscaped front yard. The building size is 42x55. The property is located in Elmhurst, NY.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Auto Repair Shop Big Box & Wholesale Store Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Elmhurst
    County
    Queens
    State
    New York
    Longitude
    -73.919729
    Latitude
    40.716344

    Nearby Similar for Sale

    • $216,000
      328 SF

      Elmhurst Commercial Unit with Balcony

      Move-in ready 328 SF commercial unit with private balcony.
      87-14 57Th Rd, Elmhurst, NY 11373
      View Details
    • $150,000
      2,880 SF

      Turnkey Pet Grooming Business

      Established pet grooming business for sale in Elmhurst, Queens.
      86-31 Whitney Ave, Elmhurst, NY 11373
      View Details
    • $2,900,000
      3,300 SF

      Elmhurst Warehouse with Expansion Potential

      Freestanding commercial building with expansion potential in Elmhurst, Queens.
      80-12 51St Ave, Elmhurst, NY 11373
      View Details
    • $2,268,000
      0.25 Acres

      Elmhurst Retail Condo For Sale

      Street-facing commercial condo in Elmhurst with flexible layout.
      91-23 Corona Ave, Elmhurst, NY 11373
      View Details
    • $939,900
      840 SF

      Elmhurst Three-Story Walk-Up Building

      Well-maintained three-story building in Elmhurst, Queens with stable income.
      9204 43Rd Ave, Elmhurst, NY 11373
      View Details
    • New
      $1,700,000
      0.07 Acres

      Elmhurst Legal Three-Family House

      Three-unit property in Elmhurst, perfect for investors, with income potential.
      93-10 50Th Ave, Elmhurst, NY 11373
      View Details
    • $939,900
      0.06 Acres

      Elmhurst Triplex: Investor Opportunity

      Well-maintained Elmhurst triplex with strong income and convenient location.
      9206 43Rd Ave, Elmhurst, NY 11373
      View Details
    • $1,598,000
      0.07 Acres

      Elmhurst Two-Family Home Investment

      Two-family home in Elmhurst with strong rental income potential.
      8315 Pettit Ave, Elmhurst, NY 11373
      View Details
    • New
      $3,750,000
      0.06 Acres

      Elmhurst Multifamily Investment Opportunity

      Well-maintained, income-producing 7-unit building in a desirable Elmhurst location.
      8834 54Th Ave, Elmhurst, NY 11373
      View Details
    • $1,450,000
      0.06 Acres

      Elmhurst Oversized Renovated Two-Family Home

      Renovated two-family home with duplex attic in prime Elmhurst.
      83-08 Pettit Ave, Elmhurst, NY 11373
      View Details
    • $2,600,000

      Elmhurst Mixed-Use Building For Sale

      Three-story mixed-use building completed in 2020, suitable for various applications.
      9041 Corona Ave, Elmhurst, NY 11373
      View Details
    • $1,999,000
      0.03 Acres

      Elmhurst Income-Producing Corner Building

      Renovated mixed-use building with retail and residential units.
      85-45 Britton Ave, Elmhurst, NY 11373
      View Details

    FAQs

    What type of property is this?
    Apartment building - Ten-unit multifamily property in a prime residential area, rebuilt in 2018.
    Where is this apartment building located?
    The property is located at 86-30 Grand Ave, Unit 10 Elmhurst, NY.
    What is the asking price?
    The asking price for this property is $5,800,000.
    What are key features of this property?
    This property features: - Completely rebuilt in 2018 in a safe neighborhood.; - Ten units: Two 1BR, Seven 2BR, and One Studio, all rented to responsible tenants at market price.; - Tenants pay their own utilities.
    (718) 639-2100
    Request Owner's contact information
    86-30 Grand Ave, Unit 10 Elmhurst, NY 11373
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    86-30 Grand Ave, Unit 10
    Elmhurst, NY 11373
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    86-30 Grand Ave, Unit 10 Elmhurst, NY 11373
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jimmy Q. Liu
    Jimmy Q. Liu
    Real Estate License ID: 31LI0944061
    (718) 639-2100
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!