12-Unit Apartment
For Sale
$4,200,000
16411 Highland Avenue, Jamaica, NY 11432
Completed in 2018, the property carries R5 zoning.
Property Size12,844 SF
Price / SF$327
Days on Market59
Property Features for 16411 Highland Avenue
General Information
Standard status
Active
Size
12,844 SF
Property subtype
Commercial
Zoning
R5
Net Operating Income
$300,000
Additional Details
Cap Rate
7%
Multifamily Units
12
Taxes and HOA fees
Annual Taxes
$3,694
Building Details
Building Size
12,844 SF
Year Built
2018
Units
12
Listing Agency:
Real Broker NY LLC
(855) 450-0442
Listed By:
Monica Soyemi
(347) 461-8161
Source:
Croninreale
Added: Aug 27
Changed: Oct 23
Last Checked: Oct 23 at 4:44PM
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 Real Broker NY LLC
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Investment Insights
Based on property information with market context.
This 12-unit apartment property contains 12,844 square feet and was built in 2018. Its zoning is R5.
The building is located at 16411 Highland Avenue in Jamaica, New York.
The building is located at 16411 Highland Avenue in Jamaica, New York.
Key Highlights
- 12 apartment units
- 12,844 square feet
- Built in 2018
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$313,964
Cap Rate
7.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,279,280
$6.3M
Cap Rate 7%
$4,485,200
$4.5M
Cap Rate 9%
$3,488,489
$3.5M
Market Conditions
NOI Build-Up for 12,844 SF
Gross rent
$593.4K $46.20/SF
− Vacancy
−$22.5K −$1.76/SF
EGI
$570.8K $44.44/SF
− OpEx
−$256.9K −$20.00/SF
NOI
$314.0K $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%
$6,279,280
Cap Rate 7%
$4,485,200
Cap Rate 9%
$3,488,489
Alternative Uses
Best Use
Apartment 5plus
$4.49M
$3.92M – $5.23M
NOI $313,964 @ 7.0% cap · market cap 7.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.47M
$8.29M – $11.05M
NOI $662,812 @ 7.0% cap · market cap 15.78%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
5,949
Businesses Nearby
Explore this area
Business Placement
Demographics for 11432, NY
65,743
Population
21,618
Households
3
Avg Household Size
39
Median Age
36%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
32,872
Density / Sq Mi
$75,395
Median Household Income
$37,385
Median Earnings
$1,841
Median Rent
$826,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Completed in 2018, the property carries R5 zoning.
Where is this apartment building located?
The property is located at 16411 Highland Avenue Jamaica, NY.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: 12 apartment units; 12,844 square feet; Built in 2018
