Legal Quadplex with Finished
For Sale
$1,599,999
9425 54th Ave, Queens, NY 11373
Legal 4-family quadplex with finished attic and basement, plus private driveway and detached garage.
Property Size2,640 SF
Days on Market46
Property Features for 9425 54th Ave
General Information
Standard status
Active
Size
2,640 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$13,907
Building Details
Building Size
2,640 SF
Year Built
1920
Buildings
1
Units
4
Tenancy
Multi
Listing Agency:
EXIT REALTY PRIME
Listed By:
MD N. Alam
(347) 440-4282
Source:
Elliman
Added: Jul 28
Changed: Aug 16
Last Checked: Sep 11 at 8:35AM
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 EXIT REALTY PRIME
Investment Insights
Based on property information with market context.
This legal 4-family quadplex includes over 2,600 sq. ft. of living space on a 3,500+ sq. ft. lot. The oversized building is arranged with front and rear units across the first and second floors, plus additional finished space. On the 1st floor, there is a front 1-bedroom unit and a rear 2-bedroom unit. On the 2nd floor, there is a front 3-bedroom unit and a rear 2-bedroom unit. There is a full finished attic with 2 rooms and a bath, and a full finished basement with 2 separate entrances and a bath.
The property also includes a private driveway and a detached garage. It is located at 9425 54th Ave, Queens, NY 11373, and is described as being within walking distance to Junction Blvd., Corona Ave., shopping, dining, public transportation, and Queens Center Mall.
The property also includes a private driveway and a detached garage. It is located at 9425 54th Ave, Queens, NY 11373, and is described as being within walking distance to Junction Blvd., Corona Ave., shopping, dining, public transportation, and Queens Center Mall.
Key Highlights
- Legal 4‑family quadplex with over 2,600 sq. ft. of living space
- 3,500+ sq. ft. lot
- 1st floor: front 1‑bedroom unit and rear 2‑bedroom unit
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
$64,533
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
4.03%
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%
$1,290,660
$1.3M
Cap Rate 7%
$921,900
$921.9K
Cap Rate 9%
$717,033
$717.0K
Market Conditions
NOI Build-Up for 2,640 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
$122.0K $46.20/SF
− Vacancy
−$4.6K −$1.76/SF
EGI
$117.3K $44.44/SF
− OpEx
−$52.8K −$20.00/SF
NOI
$64.5K $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%
$1,290,660
Cap Rate 7%
$921,900
Cap Rate 9%
$717,033
Alternative Uses
Best Use
Apartment 5plus
$921.9K
$806.7K – $1.08M
NOI $64,533 @ 7.0% cap · market cap 4.03%
Second Best
Multifamily LT 5
$624.2K
$546.2K – $728.3K
NOI $43,696 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$1.95M
$1.70M – $2.27M
NOI $136,237 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,387
Businesses Nearby
Explore this area
Business Placement
Demographics for 11373, NY
105,712
Population
34,797
Households
3
Avg Household Size
38
Median Age
30%
College-Educated
75%
High-School Grad
1.5 sq mi
ZIP Area
70,475
Density / Sq Mi
$71,470
Median Household Income
$36,043
Median Earnings
$1,913
Median Rent
$683,200
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?
Quadplex - Legal 4-family quadplex with finished attic and basement, plus private driveway and detached garage.
Where is this quadplex located?
The property is located at 9425 54th Ave Queens, NY.
What is the asking price?
The asking price for this property is $1,599,999.
What are key features of this property?
This property features: Legal 4‑family quadplex with over 2,600 sq. ft. of living space; 3,500+ sq. ft. lot; 1st floor: front 1‑bedroom unit and rear 2‑bedroom unit
