Vacant 2-Unit
New
For Sale
$1,299,888
12520 22nd Avenue, College Point, NY 11356
Corner property with a detached two-car garage and vacant delivery status.
Property Size1,580 SF
Days on Market7
Property Features for 12520 22nd Avenue
General Information
Standard status
Active
Size
1,580 SF
Total Parking Spaces
2
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,160
Building Details
Building Size
1,580 SF
Year Built
1901
Buildings
2
Units
2
Listing Agency:
Suydam Agency Inc
(718) 359-3964
Listed By:
Anthony Skoros · License #31SK1151456
(917) 364-4922
Source:
Callexitfirst
Added: Sep 13
Changed: Sep 18
Last Checked: Sep 18 at 2:17PM
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 Suydam Agency Inc
Investment Insights
Based on property information with market context.
This two-family duplex is positioned on a corner parcel and includes a detached two-car garage. The property is scheduled to be delivered vacant, providing a clear starting point for the next ownership strategy.
Built in 1901, the property is located at 12520 22nd Avenue in College Point, New York. Its two-family configuration and separate garage are the primary physical features identified for the asset.
Built in 1901, the property is located at 12520 22nd Avenue in College Point, New York. Its two-family configuration and separate garage are the primary physical features identified for the asset.
Key Highlights
- Two‑family duplex configuration
- Detached 2 car garage
- Property delivered vacant
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
$38,622
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
2.97%
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%
$772,440
$772.4K
Cap Rate 7%
$551,743
$551.7K
Cap Rate 9%
$429,133
$429.1K
Market Conditions
NOI Build-Up for 1,580 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
$73.0K $46.20/SF
− Vacancy
−$2.8K −$1.76/SF
EGI
$70.2K $44.44/SF
− OpEx
−$31.6K −$20.00/SF
NOI
$38.6K $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%
$772,440
Cap Rate 7%
$551,743
Cap Rate 9%
$429,133
Alternative Uses
Best Use
Apartment 5plus
$551.7K
$482.8K – $643.7K
NOI $38,622 @ 7.0% cap · market cap 2.97%
Second Best
Multifamily LT 5
$373.6K
$326.9K – $435.9K
NOI $26,152 @ 7.0% cap · market cap 2.01%
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,536 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,778
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Corner property with a detached two-car garage and vacant delivery status.
Where is this duplex located?
The property is located at 12520 22nd Avenue College Point, NY.
What is the asking price?
The asking price for this property is $1,299,888.
What are key features of this property?
This property features: Two‑family duplex configuration; Detached 2 car garage; Property delivered vacant
