Multifamily Property with Separate
194-03 117th Road, Saint Albans, NY 11412
For Sale
New
$1,400,000
Three levels offer varied living arrangements, with a basement kitchenette and its own exterior access.
Property Size2,524 SF
Lot Size0.12 Acres
Days on Market5
Property Features for 194-03 117th Road
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Taxes and HOA fees
Annual Taxes
Amenities
Natural Gas, Other
Finished
Other
Private
Building Details
Building Size
Year Built
Buildings
Listing Agency:
RE/MAX Edge
Listed By:
Zaiyou Zhu · License #10401312891
(917) 967-5966
Source:
Evrealestate
Added: Nov 3
Changed: Nov 7
Last Checked: Nov 6 at 8:42AM
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 RE/MAX Edge
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Investment Insights
Based on property information with market context.
This 2,524-square-foot multifamily property was built in 1992 and contains 8 bedrooms and 4 bathrooms. The upper level has 3 bedrooms, a full bathroom, and an updated kitchen. On the main floor, 3 additional bedrooms and 2 full bathrooms include a primary suite with a private bath. The basement adds 2 bedrooms, a kitchenette, mechanical space, and a separate outside entrance. Parking accommodates 4+ vehicles, and the lot measures 42 x 125.
The property is in St. Albans, near JFK Airport, neighborhood shops, restaurants, cafés, and everyday services.
The property is in St. Albans, near JFK Airport, neighborhood shops, restaurants, cafés, and everyday services.
Key Highlights
- 8 bedrooms and 4 bathrooms across 2,524 square feet
- Upper level includes 3 bedrooms, a full bathroom, and an updated kitchen
- Main level has 3 bedrooms and 2 full bathrooms, including a primary suite with en‑suite bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,698
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,233,960
$1.2M
Cap Rate 7%
$881,400
$881.4K
Cap Rate 9%
$685,533
$685.5K
Market Conditions
NOI Build-Up for 2,524 SF
Gross rent
$116.6K $46.20/SF
− Vacancy
−$4.4K −$1.76/SF
EGI
$112.2K $44.44/SF
− OpEx
−$50.5K −$20.00/SF
NOI
$61.7K $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%
$1,233,960
Cap Rate 7%
$881,400
Cap Rate 9%
$685,533
Alternative Uses
Best Use
Apartment 5plus
$881.4K
$771.2K – $1.03M
NOI $61,698 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.86M
$1.63M – $2.17M
NOI $130,251 @ 7.0% cap · market cap 9.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,361
Businesses Nearby
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Business Placement
Demographics for 11412, NY
37,958
Population
12,821
Households
3
Avg Household Size
41
Median Age
25%
College-Educated
89%
High-School Grad
1.6 sq mi
ZIP Area
23,724
Density / Sq Mi
$98,418
Median Household Income
$48,243
Median Earnings
$1,630
Median Rent
$633,800
Median Home Value
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Market
Properties on Market for Multifamily properties in Saint Albans
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Three levels offer varied living arrangements, with a basement kitchenette and its own exterior access.
Where is this multifamily property located?
The property is located at 194-03 117th Road Saint Albans, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 8 bedrooms and 4 bathrooms across 2,524 square feet; Upper level includes 3 bedrooms, a full bathroom, and an updated kitchen; Main level has 3 bedrooms and 2 full bathrooms, including a primary suite with en‑suite bath
