3-Unit Multifamily
For Sale
Contact for pricing
73-13 71st St, Glendale, NY 11385
Vacant at closing, this three-story residence offers separate apartments with full bathrooms and flexible residential use.
Property Size3,360 SF
Price / SF$341.67
Days on Market877
Property Features for 73-13 71st St
General Information
Standard status
Active
Size
3,360 SF
Class
B
Property subtype
Mixed Use
Zoning
R4-1
Investment Type
Value Add
Units
Unit Mix
1 x 3BR, 2 x 4BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Building Details
Year Built
1915
Buildings
1
Stories
3
Units
3
Listing Agency:
TRADEMARKO REALTY INC.
(347) 647-6397
Listed By:
Malgorzata Pieniadz · License #New York (NY) License 10301217154
Source:
Crexi
Added: Apr 8, 2024
Changed: Aug 29
Last Checked: Aug 29 at 6:20PM
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 TRADEMARKO REALTY INC.
Investment Insights
Based on property information with market context.
This three-family property contains approximately 3,360 square feet across three stories, with a 20' x 56' building footprint. The first-floor apartment has 3 bedrooms, while the second- and third-floor apartments each have 4 bedrooms. Each unit includes a full bathroom, living room, dining area, and kitchen. A full basement is currently used for storage and provides access to the backyard. The property will be delivered vacant at closing and is being sold in as-is condition.
Built in 1915 and zoned R4-1, the property is located at 73-13 71st St in Glendale, NY 11385, near Myrtle Avenue and the Ridgewood border. Public transportation options include the Q29, Q54, Q55, B13, QM24, QM25, QM34, and the L and M subway lines. Forest Park, Atlas Park, Trader Joe’s, Home Depot, schools, shopping centers, restaurants, and gyms are also identified in the surrounding area.
Built in 1915 and zoned R4-1, the property is located at 73-13 71st St in Glendale, NY 11385, near Myrtle Avenue and the Ridgewood border. Public transportation options include the Q29, Q54, Q55, B13, QM24, QM25, QM34, and the L and M subway lines. Forest Park, Atlas Park, Trader Joe’s, Home Depot, schools, shopping centers, restaurants, and gyms are also identified in the surrounding area.
Key Highlights
- Three‑family property with approximately 3,360 sq ft of living space
- 20' x 56' building footprint across three stories
- 3 bedrooms on the first floor; 4 bedrooms each on the second and third floors
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
$82,133
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
7.15%
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%
$1,642,660
$1.6M
Cap Rate 7%
$1,173,329
$1.2M
Cap Rate 9%
$912,589
$912.6K
Market Conditions
NOI Build-Up for 3,360 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
$155.2K $46.20/SF
− Vacancy
−$5.9K −$1.76/SF
EGI
$149.3K $44.44/SF
− OpEx
−$67.2K −$20.00/SF
NOI
$82.1K $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%
$1,642,660
Cap Rate 7%
$1,173,329
Cap Rate 9%
$912,589
Alternative Uses
Best Use
Apartment 5plus
$1.17M
$1.03M – $1.37M
NOI $82,133 @ 7.0% cap · market cap 7.15%
Second Best
Multifamily LT 5
$794.5K
$695.2K – $926.9K
NOI $55,613 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$2.48M
$2.17M – $2.89M
NOI $173,392 @ 7.0% cap · market cap 15.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,406
Businesses Nearby
Explore this area
Business Placement
Demographics for 11385, NY
100,883
Population
40,175
Households
2.5
Avg Household Size
36
Median Age
34%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
28,023
Density / Sq Mi
$87,365
Median Household Income
$47,335
Median Earnings
$1,959
Median Rent
$842,800
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?
Triplex - Vacant at closing, this three-story residence offers separate apartments with full bathrooms and flexible residential use.
Where is this triplex located?
The property is located at 73-13 71st St Glendale, NY.
What is the asking price?
The asking price for this property is $1,148,000.
What are key features of this property?
This property features: Three‑family property with approximately 3,360 sq ft of living space; 20' x 56' building footprint across three stories; 3 bedrooms on the first floor; 4 bedrooms each on the second and third floors
