Building Details

Building Size 2,000 SF

Year Built 1915

Units 2

Listing Agency: Compass

Listed By: Noel Borbon · License #10401258856 Show Phone

Source: Elliman

Added: Nov 28, 2025 Changed: Sep 24 Last Checked: Oct 7 at 1:55PM

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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 Compass

Investment Insights

Based on property information with market context.

This multifamily property is located in Queens, New York. The property is intended for residential income purposes.

Key Highlights

• Year Built: 1915

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$48,889

Cap Rate

3.76%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$977,780 $977.8K

Cap Rate 7%

$698,414 $698.4K

Cap Rate 9%

$543,211 $543.2K

Market Conditions

NOI Build-Up for 2,000 SF

Gross rent

$92.4K $46.20/SF

− Vacancy

−$3.5K −$1.76/SF

EGI

$88.9K $44.44/SF

− OpEx

−$40.0K −$20.00/SF

NOI

$48.9K $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%

$977,780

Cap Rate 7%

$698,414

Cap Rate 9%

$543,211

Alternative Uses

Best Use

Apartment 5plus

$698.4K

$611.1K – $814.8K (±1% cap)

NOI $48,889 @ 7.0% cap · market cap 3.76%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.47M

$1.29M – $1.72M (±1% cap)

NOI $103,210 @ 7.0% cap · market cap 7.94%

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 Nursing Home Carpet & Flooring Store Catering Service

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

2,275

Businesses Nearby

Explore this area 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

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 in Queens, New York.

Where is this multifamily property located?

The property is located at 17-18 Decatur St Queens, NY.

What is the asking price?

The asking price for this property is $1,300,000.

What are key features of this property?

This property features: Year Built: 1915