Building Details

Building Size 2,300 SF

Year Built 1986

Stories 2

Listing Agency: Revived Residential

Listed By: Esaie Jean-Simon Show Phone

Source: Elliman

Added: Nov 28, 2025 Changed: Aug 8 Last Checked: Aug 8 at 5:55AM

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Investment Insights

Based on property information with market context.

A multifamily property is available for sale in Queens, New York. The list price is $1,099,000.

Key Highlights

• Year Built: 1986

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$56,222

Cap Rate

5.12%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,124,440 $1.1M

Cap Rate 7%

$803,171 $803.2K

Cap Rate 9%

$624,689 $624.7K

Market Conditions

NOI Build-Up for 2,300 SF

Gross rent

$106.3K $46.20/SF

− Vacancy

−$4.0K −$1.76/SF

EGI

$102.2K $44.44/SF

− OpEx

−$46.0K −$20.00/SF

NOI

$56.2K $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%

$1,124,440

Cap Rate 7%

$803,171

Cap Rate 9%

$624,689

Alternative Uses

Best Use

Apartment 5plus

$803.2K

$702.8K – $937.0K (±1% cap)

NOI $56,222 @ 7.0% cap · market cap 5.12%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.70M

$1.48M – $1.98M (±1% cap)

NOI $118,691 @ 7.0% cap · market cap 10.80%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Multifamily properties

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage Dental Office Skin Care Clinic Gym & Fitness Center

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

660

Businesses Nearby

Explore this area Business Placement

Demographics for 11434, NY

66,964

Population

23,787

Households

2.8

Avg Household Size

40

Median Age

22%

College-Educated

87%

High-School Grad

3.2 sq mi

ZIP Area

20,926

Density / Sq Mi

$76,668

Median Household Income

$46,742

Median Earnings

$1,409

Median Rent

$585,600

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 multifamily properties 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?

Multifamily property - Multifamily property for sale in Queens, New York.

Where is this multifamily property located?

The property is located at 16929 120th Ave Queens, NY.

What is the asking price?

The asking price for this property is $1,099,000.

What are key features of this property?

This property features: Year Built: 1986