New Construction Apartment
For Sale
$620,000
214-11 35th Avenue, New York, NY 11361
Features include central air conditioning, wooden closets, marble countertops, and indoor parking.
Property Size1,065 SF
Price / SF$582.16
Days on Market10
Property Features for 214-11 35th Avenue
General Information
Standard status
Active
Size
1,065 SF
Property subtype
Mixed Use
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$13,388
Amenities
central AC system
wooden closet
marble countertop
indoor parking
Central Air
3
Listing Agency:
E Realty International Corp
(646) 688-8998
Listed By:
Hsin Yuan Yang · License #10311205376
(646) 688-8998
Source:
Xome
Added: Aug 19
Changed: Aug 28
Last Checked: Aug 28 at 7:46AM
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 E Realty International Corp
Investment Insights
Based on property information with market context.
This new-construction apartment building at 214-11 35th Avenue C9 in Bayside includes 29,405 square feet of building area. Interior features include central air conditioning, wooden closets, and marble countertops, with indoor parking available.
The property has convenient public transportation, including a 20-minute bus trip to Flushing Main St. It is near a commercial sector and falls within the 26# school district, with schools described as being within walking distance.
The property has convenient public transportation, including a 20-minute bus trip to Flushing Main St. It is near a commercial sector and falls within the 26# school district, with schools described as being within walking distance.
Key Highlights
- 29,405‑square‑foot apartment building
- New construction with central air conditioning
- Wooden closets and marble countertops
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,321
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.37%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$666,420
$666.4K
Cap Rate 7%
$476,014
$476.0K
Cap Rate 9%
$370,233
$370.2K
Market Conditions
NOI Build-Up for 1,065 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$63.8K $59.88/SF
− Vacancy
−$3.2K −$2.99/SF
EGI
$60.6K $56.89/SF
− OpEx
−$27.3K −$25.60/SF
NOI
$33.3K $31.29/SF
Area
New York, NY
Vacancy
5.00%
Lease Rate
$59.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$666,420
Cap Rate 7%
$476,014
Cap Rate 9%
$370,233
Alternative Uses
Best Use
Apartment 5plus
$476.0K
$416.5K – $555.4K
NOI $33,321 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.65M
$2.32M – $3.09M
NOI $185,566 @ 7.0% cap · market cap 29.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,711
Businesses Nearby
Explore this area
Business Placement
Demographics for 11361, NY
29,116
Population
11,934
Households
2.4
Avg Household Size
43
Median Age
48%
College-Educated
88%
High-School Grad
1.7 sq mi
ZIP Area
17,127
Density / Sq Mi
$108,391
Median Household Income
$58,410
Median Earnings
$2,315
Median Rent
$900,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Features include central air conditioning, wooden closets, marble countertops, and indoor parking.
Where is this apartment building located?
The property is located at 214-11 35th Avenue New York, NY.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: 29,405‑square‑foot apartment building; New construction with central air conditioning; Wooden closets and marble countertops
