Legal 3-Family
New
For Sale
$2,500,000
13426 35th Ave, Queens, NY 11354
Built in 2000 with access to Flushing Main Street, transportation, and highly walkable surroundings.
Property Size4,500 SF
Days on Market6
Property Features for 13426 35th Ave
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Investment
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$16,874
Building Details
Building Size
4,500 SF
Year Built
2000
Units
3
Listing Agency:
Century Homes Realty Group LLC
(718) 886-6800
Listed By:
Hak C. Wang · License #40WA1175096
(718) 886-6800
Source:
Elliman
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 30 at 1:49PM
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 Century Homes Realty Group LLC
Investment Insights
Based on property information with market context.
This legal three-family triplex was built in 2000 and is located at 13426 35th Ave, Queens, NY 11354. The property offers a three-unit residential income configuration within the Flushing market.
Flushing Main Street is one block away, with transportation options nearby. Reported walk, bike, and transit scores are 95, 71, and 98, respectively, indicating convenient access across all three modes.
Flushing Main Street is one block away, with transportation options nearby. Reported walk, bike, and transit scores are 95, 71, and 98, respectively, indicating convenient access across all three modes.
Key Highlights
- Legal three‑family triplex
- Built in 2000
- One block from Flushing Main Street
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
$110,000
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
4.40%
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%
$2,200,000
$2.2M
Cap Rate 7%
$1,571,429
$1.6M
Cap Rate 9%
$1,222,222
$1.2M
Market Conditions
NOI Build-Up for 4,500 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
$207.9K $46.20/SF
− Vacancy
−$7.9K −$1.76/SF
EGI
$200.0K $44.44/SF
− OpEx
−$90.0K −$20.00/SF
NOI
$110.0K $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%
$2,200,000
Cap Rate 7%
$1,571,429
Cap Rate 9%
$1,222,222
Alternative Uses
Best Use
Apartment 5plus
$1.57M
$1.38M – $1.83M
NOI $110,000 @ 7.0% cap · market cap 4.40%
Second Best
Multifamily LT 5
$1.06M
$931.0K – $1.24M
NOI $74,482 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$3.32M
$2.90M – $3.87M
NOI $232,222 @ 7.0% cap · market cap 9.29%
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
5,305
Businesses Nearby
Explore this area
Business Placement
Demographics for 11354, NY
61,276
Population
22,979
Households
2.7
Avg Household Size
45
Median Age
33%
College-Educated
79%
High-School Grad
2.2 sq mi
ZIP Area
27,853
Density / Sq Mi
$62,833
Median Household Income
$40,404
Median Earnings
$1,766
Median Rent
$521,000
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 - Built in 2000 with access to Flushing Main Street, transportation, and highly walkable surroundings.
Where is this triplex located?
The property is located at 13426 35th Ave Queens, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Legal three‑family triplex; Built in 2000; One block from Flushing Main Street
