21508 23rd Road, Bayside, NY 11360

Building Details

Building Size 3,560 SF More

Year Built 1970 More

Units 2 More

Listing Agency: EXIT Realty Premier

Listed By: Anna Beigelman Show Phone

Source: Georgemcknight

Added: Oct 23 Changed: Nov 7 Last Checked: Nov 7 at 8:11PM

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$87,022

Cap Rate

4.83%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,740,440 $1.7M

Cap Rate 7%

$1,243,171 $1.2M

Cap Rate 9%

$966,911 $966.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,560 SF

Gross rent

$164.5K $46.20/SF

− Vacancy

−$6.2K −$1.76/SF

EGI

$158.2K $44.44/SF

− OpEx

−$71.2K −$20.00/SF

NOI

$87.0K $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%

$1,740,440

Cap Rate 7%

$1,243,171

Cap Rate 9%

$966,911

Alternative Uses

Best Use

Apartment 5plus

$1.24M

$1.09M – $1.45M (±1% cap)

NOI $87,022 @ 7.0% cap · market cap 4.83%

Second Best

Multifamily LT 5

$841.8K

$736.6K – $982.1K (±1% cap)

NOI $58,924 @ 7.0% cap · market cap 3.27%

Theoretical Best

Office A

$2.62M

$2.30M – $3.06M (±1% cap)

NOI $183,713 @ 7.0% cap · market cap 10.21%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Location Intelligence

Trade Area within ½ mile

792

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

Properties on Market for Duplexes in Bayside

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

Where is this duplex located?

The property is located at 21508 23rd Road Bayside, NY.

What is the asking price?

The asking price for this property is $1,799,999.