6-Unit Apartment
For Sale
$2,095,000
17-17 Madison Street, Queens, NY 11385
Commercial Sale, Queens, NY
Property Size5,600 SF
Price / SF$374.11
Days on Market323
Property Features for 17-17 Madison Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
12
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 4, Bathroom 3, Bedroom 5, Bathroom 4, Bedroom 7, Bedroom 2, Bedroom 9, Bedroom 11, Bathroom 5, Bedroom 10, Bathroom 2, Bathroom 6, Bedroom 12, Bathroom 1, Bedroom 6, Bedroom 3, Bedroom 1, Bedroom 8
Subdivision
Ridgewood
High school district
000000
Standard status
Active
Size
5,600 SF
Additional Details
Tenant in Place
Yes
Building Details
Architectural style
Other
Buildings
1
Listing Agency:
Compass
(646) 982-0353
Listed By:
Cassandra Frank · License #10301221071
Added: Dec 17, 2025
Changed: Nov 3
Last Checked: Nov 4 at 12:06AM
MLS# 11620055
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 5,600-square-foot mid-rise apartment building at 17-17 Madison Street contains six floor-through apartments, including four free-market units and two rent-stabilized units. The walk-up configuration provides separate residential layouts, while gas heating and optional window air conditioning serve the apartments. A full basement adds storage or functional space for the property.
The building is located in Queens, NY 11385, within the Ridgewood area. The property includes six bathrooms and a 12-bedroom room configuration as listed. Its mix of regulated and free-market apartments provides a defined residential composition for review by multifamily buyers.
The building is located in Queens, NY 11385, within the Ridgewood area. The property includes six bathrooms and a 12-bedroom room configuration as listed. Its mix of regulated and free-market apartments provides a defined residential composition for review by multifamily buyers.
Key Highlights
- 5,600‑square‑foot mid‑rise apartment building
- Six floor‑through apartments: 4 free‑market and 2 rent‑stabilized
- Full basement for storage or additional functional space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$136,889
Cap Rate
6.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,737,780
$2.7M
Cap Rate 7%
$1,955,557
$2.0M
Cap Rate 9%
$1,520,989
$1.5M
Market Conditions
NOI Build-Up for 5,600 SF
Gross rent
$258.7K $46.20/SF
− Vacancy
−$9.8K −$1.76/SF
EGI
$248.9K $44.44/SF
− OpEx
−$112.0K −$20.00/SF
NOI
$136.9K $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%
$2,737,780
Cap Rate 7%
$1,955,557
Cap Rate 9%
$1,520,989
Alternative Uses
Best Use
Apartment 5plus
$1.96M
$1.71M – $2.28M
NOI $136,889 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.13M
$3.61M – $4.82M
NOI $288,987 @ 7.0% cap · market cap 13.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
5,387
Businesses Nearby
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Business Placement
Demographics for 11385, NY
100,883
Population
40,175
Households
2.5
Avg Household Size
36
Median Age
34%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
28,023
Density / Sq Mi
$87,365
Median Household Income
$47,335
Median Earnings
$1,959
Median Rent
$842,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Walk-up property with a full basement, gas heating, and a mix of free-market and rent-stabilized apartments.
Where is this apartment building located?
The property is located at 17-17 Madison Street Queens, NY.
What is the asking price?
The asking price for this property is $2,095,000.
What are key features of this property?
This property features: 5,600‑square‑foot mid‑rise apartment building; Six floor‑through apartments: 4 free‑market and 2 rent‑stabilized; Full basement for storage or additional functional space
