Renovated Apartment in Gated
For Sale
$358,000
15029 72nd Rd 5C, Queens, NY 11367
Spacious 2-bedroom apartment with modern amenities and convenient location.
Property Size940 SF
Days on Market269
Property Features for 15029 72nd Rd 5C
General Information
Standard status
Active
Size
940 SF
Property subtype
Residential
Building Details
Building Size
940 SF
Year Built
1958
Listing Agency:
eXp Realty
(347) 972-5378
Listed By:
Dongqin Wen · License #10401361860
(347) 972-5378
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 16
Last Checked: Aug 23 at 9:06AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This renovated apartment features a modern kitchen equipped with granite countertops and stainless steel appliances, along with a stylishly renovated bathroom. The expansive master bedroom includes ample closet space, and the apartment features flooring throughout. Located in the Dara Gardens, a secure, 24-hour gated community, residents have access to amenities such as an on-site playground, laundry facility, bike storage, a serene courtyard, and a recreation room. Garage parking is available. The property is conveniently located near Main Street, providing easy access to the Q25, Q34, and Q64 buses, as well as the E/F subway lines for commuting to Manhattan. Supermarkets and dining options are located within a mile. The community is pet-friendly, and subletting is permitted after two years of ownership. There is no flip tax.
Key Highlights
- Renovated kitchen with GRANITE COUNTERTOPS and STAINLESS STEEL APPLIANCES
- SECURE, 24‑hour gated community
- Convenient location near public transportation (Q25, Q34, Q64 buses, E/F subway) for easy access to Manhattan
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
$22,978
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
6.42%
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%
$459,560
$459.6K
Cap Rate 7%
$328,257
$328.3K
Cap Rate 9%
$255,311
$255.3K
Market Conditions
NOI Build-Up for 940 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
$43.4K $46.20/SF
− Vacancy
−$1.7K −$1.76/SF
EGI
$41.8K $44.44/SF
− OpEx
−$18.8K −$20.00/SF
NOI
$23.0K $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 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%
$459,560
Cap Rate 7%
$328,257
Cap Rate 9%
$255,311
Alternative Uses
Best Use
Apartment 5plus
$328.3K
$287.2K – $383.0K
NOI $22,978 @ 7.0% cap · market cap 6.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$693.0K
$606.4K – $808.5K
NOI $48,509 @ 7.0% cap · market cap 13.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Spacious 2-bedroom apartment with modern amenities and convenient location.
Where is this apartment building located?
The property is located at 15029 72nd Rd 5C Queens, NY.
What is the asking price?
The asking price for this property is $358,000.
What are key features of this property?
This property features: Renovated kitchen with GRANITE COUNTERTOPS and STAINLESS STEEL APPLIANCES; SECURE, 24‑hour gated community; Convenient location near public transportation (Q25, Q34, Q64 buses, E/F subway) for easy access to Manhattan
