Renovated Detached
For Sale
$1,190,000
14-18 114th Street, College Point, NY 11356
Three-family residential property near shopping, parks, library, and bus service.
Property Size2,100 SF
Days on Market60
Property Features for 14-18 114th Street
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$6,552
Building Details
Building Size
2,100 SF
Year Built
1920
Year Renovated
2018
Buildings
1
Tenancy
Multi
Listing Agency:
City Realty Group
Listed By:
Emmy D. Cai CBR · License #10311207995
(718) 888-9005
Source:
Barbieliteam
Added: Jul 27
Changed: Sep 10
Last Checked: Sep 22 at 9:26PM
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 City Realty Group
Investment Insights
Based on property information with market context.
This detached triplex was completely renovated in 2018 and includes 7 bedrooms and 4 full bathrooms across its three-family configuration. The property offers separate residential units, with tenants paying all utilities except water. Built in 1920, it combines an established structure with substantial renovation work.
Located at 14-18 114th Street in College Point, the property is near College Point Boulevard's shopping, local parks, and library. Q26 bus service is nearby, providing a connection to the Flushing #7 train. The layout supports multifamily residential use with a practical unit count and bedroom configuration.
Located at 14-18 114th Street in College Point, the property is near College Point Boulevard's shopping, local parks, and library. Q26 bus service is nearby, providing a connection to the Flushing #7 train. The layout supports multifamily residential use with a practical unit count and bedroom configuration.
Key Highlights
- Completely renovated in 2018
- Detached 3‑family property with 7 bedrooms and 4 full bathrooms
- Tenants pay all utilities except water
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
$51,333
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
4.31%
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%
$1,026,660
$1.0M
Cap Rate 7%
$733,329
$733.3K
Cap Rate 9%
$570,367
$570.4K
Market Conditions
NOI Build-Up for 2,100 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
$97.0K $46.20/SF
− Vacancy
−$3.7K −$1.76/SF
EGI
$93.3K $44.44/SF
− OpEx
−$42.0K −$20.00/SF
NOI
$51.3K $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 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%
$1,026,660
Cap Rate 7%
$733,329
Cap Rate 9%
$570,367
Alternative Uses
Best Use
Apartment 5plus
$733.3K
$641.7K – $855.6K
NOI $51,333 @ 7.0% cap · market cap 4.31%
Second Best
Multifamily LT 5
$496.5K
$434.5K – $579.3K
NOI $34,758 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$1.55M
$1.35M – $1.81M
NOI $108,370 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,040
Businesses Nearby
Explore this area
Business Placement
Demographics for 11356, NY
28,310
Population
9,003
Households
3.1
Avg Household Size
37
Median Age
25%
College-Educated
78%
High-School Grad
1.6 sq mi
ZIP Area
17,694
Density / Sq Mi
$91,445
Median Household Income
$40,928
Median Earnings
$2,160
Median Rent
$893,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-family residential property near shopping, parks, library, and bus service.
Where is this triplex located?
The property is located at 14-18 114th Street College Point, NY.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: Completely renovated in 2018; Detached 3‑family property with 7 bedrooms and 4 full bathrooms; Tenants pay all utilities except water
