Building Details

Building Size 728 SF

Year Built 1969

Listed By: Ambreen Faruqi CBR Show Phone

Source: Elliman

Added: Nov 28, 2025 Changed: Sep 26 Last Checked: Oct 7 at 1:34PM

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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 Ambreen Faruqi CBR

Investment Insights

Based on property information with market context.

Located in Queens, NY, this apartment is available for sale. The list price is $379,000.

Key Highlights

• Year Built: 1969

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,796

Cap Rate

4.70%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$355,920 $355.9K

Cap Rate 7%

$254,229 $254.2K

Cap Rate 9%

$197,733 $197.7K

Market Conditions

NOI Build-Up for 728 SF

Gross rent

$33.6K $46.20/SF

− Vacancy

−$1.3K −$1.76/SF

EGI

$32.4K $44.44/SF

− OpEx

−$14.6K −$20.00/SF

NOI

$17.8K $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%

$355,920

Cap Rate 7%

$254,229

Cap Rate 9%

$197,733

Alternative Uses

Best Use

Apartment 5plus

$254.2K

$222.5K – $296.6K (±1% cap)

NOI $17,796 @ 7.0% cap · market cap 4.70%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$536.7K

$469.6K – $626.1K (±1% cap)

NOI $37,568 @ 7.0% cap · market cap 9.91%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Real Estate Agency Law Firm Restaurant Hair Salon Spa & Massage Center Building Supply

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

797

Businesses Nearby

Explore this area Business Placement

Demographics for 11360, NY

20,039

Population

9,874

Households

2

Avg Household Size

52

Median Age

49%

College-Educated

87%

High-School Grad

1.4 sq mi

ZIP Area

14,314

Density / Sq Mi

$100,250

Median Household Income

$67,810

Median Earnings

$2,329

Median Rent

$692,600

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 apartment buildings 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?

Apartment building - Apartment in Queens, NY, available for purchase.

Where is this apartment building located?

The property is located at 1785 215th St 17E Queens, NY.

What is the asking price?

The asking price for this property is $379,000.

What are key features of this property?

This property features: Year Built: 1969