Building Details

Building Size 900 SF

Year Built 1959

Listing Agency: Douglas Elliman Real Estate

Listed By: Christopher Espinal · License #40ES1144459 Show Phone

Source: Elliman

Added: Nov 27, 2025 Changed: Sep 30 Last Checked: Oct 7 at 1:19PM

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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 Douglas Elliman Real Estate

Investment Insights

Based on property information with market context.

An apartment located in Queens, New York, is available for sale.

Key Highlights

• Year Built: 1959

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,000

Cap Rate

8.46%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$440,000 $440.0K

Cap Rate 7%

$314,286 $314.3K

Cap Rate 9%

$244,444 $244.4K

Market Conditions

NOI Build-Up for 900 SF

Gross rent

$41.6K $46.20/SF

− Vacancy

−$1.6K −$1.76/SF

EGI

$40.0K $44.44/SF

− OpEx

−$18.0K −$20.00/SF

NOI

$22.0K $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 Rate 5%

$440,000

Cap Rate 7%

$314,286

Cap Rate 9%

$244,444

Alternative Uses

Best Use

Apartment 5plus

$314.3K

$275.0K – $366.7K (±1% cap)

NOI $22,000 @ 7.0% cap · market cap 8.46%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$663.5K

$580.6K – $774.1K (±1% cap)

NOI $46,444 @ 7.0% cap · market cap 17.87%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Gym & Fitness Center (Bike/Boat/Book/etc) Store Tattoo & Piercing Shop Veterinary Clinic Pet Grooming Service Nursing Home

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

4,748

Businesses Nearby

Explore this area Business Placement

Demographics for 11435, NY

58,980

Population

21,180

Households

2.8

Avg Household Size

38

Median Age

32%

College-Educated

80%

High-School Grad

1.5 sq mi

ZIP Area

39,320

Density / Sq Mi

$79,430

Median Household Income

$43,354

Median Earnings

$1,820

Median Rent

$550,300

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 in Queens available for purchase.

Where is this apartment building located?

The property is located at 141-05 Pershing Cres 117 Queens, NY.

What is the asking price?

The asking price for this property is $259,900.

What are key features of this property?

This property features: Year Built: 1959