Multi-Unit Residential Income
For Sale
$1,498,000
144-44 27th Avenue, Flushing, NY 11354
A finished, full walk-out area and granite-countered interiors complement the multi-unit configuration.
Property Size2,970 SF
Days on Market34
Property Features for 144-44 27th Avenue
General Information
Standard status
Active
Size
2,970 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$13,578
Amenities
Multi Units
Natural Gas
Finished, Full, Walk-Out Access
Ceiling Fan(s), Granite Counters
Attached, Driveway
Garden
Building Details
Building Size
2,970 SF
Year Built
1960
Listing Agency:
edna mashaal realty
Listed By:
Edna Mashaal
(516) 840-8888
Source:
Evrealestate
Added: Aug 26
Changed: Sep 26
Last Checked: Sep 26 at 2:24PM
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 edna mashaal realty
Investment Insights
Based on property information with market context.
This 1960 residential income property has multiple units and a finished, full basement with walk-out access. Interior details include granite counters and ceiling fans, with natural gas service. The attached exterior configuration includes a driveway, and a garden is also present.
The property is at 144-44 27th Avenue in Flushing, Queens. Directions reference Northern Boulevard, Parsons Boulevard, Roosevelt Avenue, and 27th Avenue.
The property is at 144-44 27th Avenue in Flushing, Queens. Directions reference Northern Boulevard, Parsons Boulevard, Roosevelt Avenue, and 27th Avenue.
Key Highlights
- Multiple residential units
- Finished full basement with walk‑out access
- Granite counters and ceiling fans
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
$72,600
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
4.85%
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%
$1,452,000
$1.5M
Cap Rate 7%
$1,037,143
$1.0M
Cap Rate 9%
$806,667
$806.7K
Market Conditions
NOI Build-Up for 2,970 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
$137.2K $46.20/SF
− Vacancy
−$5.2K −$1.76/SF
EGI
$132.0K $44.44/SF
− OpEx
−$59.4K −$20.00/SF
NOI
$72.6K $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%
$1,452,000
Cap Rate 7%
$1,037,143
Cap Rate 9%
$806,667
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$907.5K – $1.21M
NOI $72,600 @ 7.0% cap · market cap 4.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.19M
$1.92M – $2.55M
NOI $153,266 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,154
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
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Frequently Asked Questions
What type of property is this?
Residential income property - A finished, full walk-out area and granite-countered interiors complement the multi-unit configuration.
Where is this residential income property located?
The property is located at 144-44 27th Avenue Flushing, NY.
What is the asking price?
The asking price for this property is $1,498,000.
What are key features of this property?
This property features: Multiple residential units; Finished full basement with walk‑out access; Granite counters and ceiling fans
