Modern Multifamily Property with Transit
For Sale
$1,250,000
12823 Van Wyck Expy, Jamaica, NY 11436
Modern multifamily property with two-zone heating and separate boiler and water-heater systems.
Property Size2,176 SF
Price / SF$574.45
Days on Market103
Property Features for 12823 Van Wyck Expy
General Information
Standard status
Active
Size
2,176 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,777
Building Details
Year Built
2006
Listing Agency:
Prime Place Realty
(718) 480-8282
Listed By:
Brian McCaffrey
(718) 480-8282
Source:
Exprealty
Added: May 2
Changed: Aug 12
Last Checked: Aug 12 at 4:17AM
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 Prime Place Realty
Investment Insights
Based on property information with market context.
Constructed in 2006, this multifamily property offers 2, 176 sqft of total interior livable area along with a spacious layout. Building systems include two boilers, two water heaters, and two-zone heating, providing a configuration suited to residential income use.
The property is located at 12823 Van Wyck Expy in Jamaica, NY, near John F. Kennedy International Airport and the Sutphin Blvd-Archer Av-JFK Airport AirTrain and Subway Hub. Access to the E, J, and Z subway lines, MTA bus service, the Van Wyck Expressway (I-678), and the Belt Parkway connects the property with Manhattan, Long Island, and the surrounding Jamaica area.
The property is located at 12823 Van Wyck Expy in Jamaica, NY, near John F. Kennedy International Airport and the Sutphin Blvd-Archer Av-JFK Airport AirTrain and Subway Hub. Access to the E, J, and Z subway lines, MTA bus service, the Van Wyck Expressway (I-678), and the Belt Parkway connects the property with Manhattan, Long Island, and the surrounding Jamaica area.
Key Highlights
- 2, 176 sqft of total interior livable area
- Constructed in 2006
- Two boilers and two water heaters
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
$53,191
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
4.26%
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%
$1,063,820
$1.1M
Cap Rate 7%
$759,871
$759.9K
Cap Rate 9%
$591,011
$591.0K
Market Conditions
NOI Build-Up for 2,176 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
$100.5K $46.20/SF
− Vacancy
−$3.8K −$1.76/SF
EGI
$96.7K $44.44/SF
− OpEx
−$43.5K −$20.00/SF
NOI
$53.2K $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%
$1,063,820
Cap Rate 7%
$759,871
Cap Rate 9%
$591,011
Alternative Uses
Best Use
Apartment 5plus
$759.9K
$664.9K – $886.5K
NOI $53,191 @ 7.0% cap · market cap 4.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,292 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,104
Businesses Nearby
Explore this area
Business Placement
Demographics for 11436, NY
20,620
Population
6,617
Households
3.1
Avg Household Size
38
Median Age
22%
College-Educated
84%
High-School Grad
0.8 sq mi
ZIP Area
25,775
Density / Sq Mi
$86,104
Median Household Income
$42,386
Median Earnings
$2,079
Median Rent
$602,800
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?
Multifamily property - Modern multifamily property with two-zone heating and separate boiler and water-heater systems.
Where is this multifamily property located?
The property is located at 12823 Van Wyck Expy Jamaica, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 2, 176 sqft of total interior livable area; Constructed in 2006; Two boilers and two water heaters
