Two-Bedroom Cooperative
For Sale
$340,000
140-39 34th Avenue 2T, Queens, NY 11354
Renovated kitchen, elevator access, on-site laundry, and a parking garage waitlist support convenient residential living.
Property Size936 SF
Price / SF$363.25
Days on Market78
Property Features for 140-39 34th Avenue 2T
General Information
Standard status
Active
Size
936 SF
Property subtype
Apartment
Building Details
Building Size
936 SF
Year Built
1900
Listing Agency:
All Area Brokerage Inc
(516) 261-4550
Listed By:
Nadine Persaud
(516) 261-4550
Source:
Cbwarburg
Added: Jun 5
Changed: Aug 21
Last Checked: Aug 21 at 10:42AM
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 All Area Brokerage Inc
Investment Insights
Based on property information with market context.
This 936-square-foot, two-bedroom cooperative apartment features an open-concept living and dining area suited to everyday living and entertaining. The fully renovated kitchen includes granite countertops, stainless steel appliances, and modern cabinetry. Both bedrooms are generously proportioned, offering flexibility for guests or a home office. The apartment is described as move-in ready, subject to board approval.
The elevator building includes on-site laundry and a parking garage with a waitlist. Maintenance covers heat, gas, hot water, sewer, and electricity. The property is located in Flushing, minutes from the 7 train, LIRR, and multiple bus lines, with dining and shopping along Main Street. No subletting and no pets are permitted.
The elevator building includes on-site laundry and a parking garage with a waitlist. Maintenance covers heat, gas, hot water, sewer, and electricity. The property is located in Flushing, minutes from the 7 train, LIRR, and multiple bus lines, with dining and shopping along Main Street. No subletting and no pets are permitted.
Key Highlights
- 936‑square‑foot cooperative apartment with two bedrooms
- Fully renovated kitchen with granite countertops, stainless steel appliances, and modern cabinetry
- Elevator building with on‑site laundry
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
$22,880
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
6.73%
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%
$457,600
$457.6K
Cap Rate 7%
$326,857
$326.9K
Cap Rate 9%
$254,222
$254.2K
Market Conditions
NOI Build-Up for 936 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
$43.2K $46.20/SF
− Vacancy
−$1.6K −$1.76/SF
EGI
$41.6K $44.44/SF
− OpEx
−$18.7K −$20.00/SF
NOI
$22.9K $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%
$457,600
Cap Rate 7%
$326,857
Cap Rate 9%
$254,222
Alternative Uses
Best Use
Apartment 5plus
$326.9K
$286.0K – $381.3K
NOI $22,880 @ 7.0% cap · market cap 6.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$690.0K
$603.8K – $805.0K
NOI $48,302 @ 7.0% cap · market cap 14.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,316
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated kitchen, elevator access, on-site laundry, and a parking garage waitlist support convenient residential living.
Where is this residential income property located?
The property is located at 140-39 34th Avenue 2T Queens, NY.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 936‑square‑foot cooperative apartment with two bedrooms; Fully renovated kitchen with granite countertops, stainless steel appliances, and modern cabinetry; Elevator building with on‑site laundry
