Newly Built Triplex with
For Sale
$2,100,000
10717 34th Ave, Queens, NY 11368
Three residences offer varied layouts, private laundry, dedicated systems, and contemporary finishes.
Property Size3,060 SF
Days on Market12
Property Features for 10717 34th Ave
General Information
Standard status
Active
Size
3,060 SF
Total Parking Spaces
3
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$2,423
Amenities
private rooftop
laundry room
Building Details
Building Size
3,060 SF
Year Built
2025
Buildings
1
Units
3
Tenancy
Multi
Listing Agency:
New Group Realty Inc
(718) 496-2828
Listed By:
Tania Valdez · License #10401307872
(718) 496-2828
Source:
Elliman
Added: Jul 30
Changed: Aug 8
Last Checked: Aug 10 at 5:20AM
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 New Group Realty Inc
Investment Insights
Based on property information with market context.
Newly constructed in 2025, this three-family residence features contemporary finishes, high ceilings, and a practical multi-unit layout. The first-floor unit includes 2 bedrooms, 2 full bathrooms, and an in-unit laundry room. The second- and third-floor units each offer 3 bedrooms and 2 full bathrooms, along with generous closet space and modern finishes.
A spacious basement provides a dedicated laundry room and abundant storage. Each unit has separate boilers and hot water tanks. The property also includes a private rooftop and 3 parking spaces. Located at 10717 34th Ave in Queens, the property has a Walk Score of 89, a Transit Score of 85, and a Bike Score of 70.
A spacious basement provides a dedicated laundry room and abundant storage. Each unit has separate boilers and hot water tanks. The property also includes a private rooftop and 3 parking spaces. Located at 10717 34th Ave in Queens, the property has a Walk Score of 89, a Transit Score of 85, and a Bike Score of 70.
Key Highlights
- Newly constructed three‑family residence completed in 2025
- First‑floor unit includes 2 bedrooms, 2 full bathrooms, and in‑unit laundry
- Second- and third‑floor units each include 3 bedrooms and 2 full bathrooms
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
$74,800
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
3.56%
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%
$1,496,000
$1.5M
Cap Rate 7%
$1,068,571
$1.1M
Cap Rate 9%
$831,111
$831.1K
Market Conditions
NOI Build-Up for 3,060 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
$141.4K $46.20/SF
− Vacancy
−$5.4K −$1.76/SF
EGI
$136.0K $44.44/SF
− OpEx
−$61.2K −$20.00/SF
NOI
$74.8K $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%
$1,496,000
Cap Rate 7%
$1,068,571
Cap Rate 9%
$831,111
Alternative Uses
Best Use
Apartment 5plus
$1.07M
$935.0K – $1.25M
NOI $74,800 @ 7.0% cap · market cap 3.56%
Second Best
Multifamily LT 5
$723.5K
$633.1K – $844.1K
NOI $50,648 @ 7.0% cap · market cap 2.41%
Theoretical Best
Office A
$2.26M
$1.97M – $2.63M
NOI $157,911 @ 7.0% cap · market cap 7.52%
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
6,032
Businesses Nearby
Explore this area
Business Placement
Demographics for 11368, NY
117,110
Population
31,165
Households
3.8
Avg Household Size
34
Median Age
14%
College-Educated
65%
High-School Grad
2.6 sq mi
ZIP Area
45,042
Density / Sq Mi
$71,798
Median Household Income
$33,742
Median Earnings
$1,925
Median Rent
$751,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three residences offer varied layouts, private laundry, dedicated systems, and contemporary finishes.
Where is this triplex located?
The property is located at 10717 34th Ave Queens, NY.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Newly constructed three‑family residence completed in 2025; First‑floor unit includes 2 bedrooms, 2 full bathrooms, and in‑unit laundry; Second- and third‑floor units each include 3 bedrooms and 2 full bathrooms
