Building Details

Building Size 750 SF

Year Built 1950

Listing Agency: E REALTY INTERNATIONAL CORP.

Listed By: Seunghee Kim Show Phone

Source: Elliman

Added: Nov 28, 2025 Changed: Sep 26 Last Checked: Oct 7 at 1:48PM

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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 E REALTY INTERNATIONAL CORP.

Investment Insights

Based on property information with market context.

A residential income property is available for sale. This apartment building is located in Queens, NY.

Key Highlights

• Year Built: 1950

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,333

Cap Rate

5.77%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$366,660 $366.7K

Cap Rate 7%

$261,900 $261.9K

Cap Rate 9%

$203,700 $203.7K

Market Conditions

NOI Build-Up for 750 SF

Gross rent

$34.7K $46.20/SF

− Vacancy

−$1.3K −$1.76/SF

EGI

$33.3K $44.44/SF

− OpEx

−$15.0K −$20.00/SF

NOI

$18.3K $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 Rate 5%

$366,660

Cap Rate 7%

$261,900

Cap Rate 9%

$203,700

Alternative Uses

Best Use

Apartment 5plus

$261.9K

$229.2K – $305.6K (±1% cap)

NOI $18,333 @ 7.0% cap · market cap 5.77%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$552.9K

$483.8K – $645.1K (±1% cap)

NOI $38,704 @ 7.0% cap · market cap 12.17%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Real Estate Agency Law Firm Hair Salon Spa & Massage Center Parking Lot & Garage Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,380

Businesses Nearby

Explore this area Business Placement

Demographics for 11367, NY

43,112

Population

15,693

Households

2.7

Avg Household Size

37

Median Age

46%

College-Educated

84%

High-School Grad

1.9 sq mi

ZIP Area

22,691

Density / Sq Mi

$75,804

Median Household Income

$45,052

Median Earnings

$1,774

Median Rent

$519,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Apartment building - Apartment building for sale in Queens, NY.

Where is this apartment building located?

The property is located at 138-29 68th Dr 1C Queens, NY.

What is the asking price?

The asking price for this property is $318,000.

What are key features of this property?

This property features: Year Built: 1950