Triplex With Additional Studio
New
For Sale
$1,298,000
222-03 Braddock Avenue, Queens Village, NY 11428
Three residential apartments plus flexible finished space with a full bathroom and dedicated off-street parking.
Property Size2,872 SF
Price / SF$451.95
Days on Market5
Property Features for 222-03 Braddock Avenue
General Information
Standard status
Active
Size
2,872 SF
Property subtype
Triplex
Additional Details
Public Transit
Yes
Office Units
1
Taxes and HOA fees
Annual Taxes
$10,076
Building Details
Building Size
2,872 SF
Year Built
1960
Stories
2
Listing Agency:
Signature Premier Properties
Listed By:
Susan Sanchez CBR SRES
Source:
Luxuryhomeny
Added: Sep 4
Changed: Sep 8
Last Checked: Sep 7 at 8:32AM
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 Signature Premier Properties
Investment Insights
Based on property information with market context.
This triplex at 222-03 Braddock Avenue, Queens Village, includes three one-bedroom apartments arranged across the first and second floors. Each apartment offers a living room, open-concept kitchen, full bathroom, bedroom, and closet storage. Additional first-floor space includes a full bathroom and is described for studio apartment, work-from-home, or professional and medical office use.
The property was built in 1960 and includes a one-car garage along with a private driveway for off-street parking. The location provides access to buses serving the subway, express bus service to NYC, and the LIRR. NYU and Northwell facilities, as well as shopping, are also identified in the surrounding area.
The property was built in 1960 and includes a one-car garage along with a private driveway for off-street parking. The location provides access to buses serving the subway, express bus service to NYC, and the LIRR. NYU and Northwell facilities, as well as shopping, are also identified in the surrounding area.
Key Highlights
- Three one‑bedroom apartments plus additional studio/commercial space
- Additional space includes a full bathroom
- One‑car garage and private driveway for off‑street parking
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
$70,204
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
5.41%
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%
$1,404,080
$1.4M
Cap Rate 7%
$1,002,914
$1.0M
Cap Rate 9%
$780,044
$780.0K
Market Conditions
NOI Build-Up for 2,872 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
$132.7K $46.20/SF
− Vacancy
−$5.0K −$1.76/SF
EGI
$127.6K $44.44/SF
− OpEx
−$57.4K −$20.00/SF
NOI
$70.2K $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 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%
$1,404,080
Cap Rate 7%
$1,002,914
Cap Rate 9%
$780,044
Alternative Uses
Best Use
Apartment 5plus
$1.00M
$877.6K – $1.17M
NOI $70,204 @ 7.0% cap · market cap 5.41%
Second Best
Multifamily LT 5
$679.1K
$594.2K – $792.3K
NOI $47,536 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$2.12M
$1.85M – $2.47M
NOI $148,209 @ 7.0% cap · market cap 11.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
973
Businesses Nearby
Explore this area
Business Placement
Demographics for 11428, NY
19,516
Population
6,335
Households
3.1
Avg Household Size
42
Median Age
28%
College-Educated
81%
High-School Grad
0.8 sq mi
ZIP Area
24,395
Density / Sq Mi
$84,977
Median Household Income
$42,146
Median Earnings
$1,827
Median Rent
$666,200
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?
Triplex - Three residential apartments plus flexible finished space with a full bathroom and dedicated off-street parking.
Where is this triplex located?
The property is located at 222-03 Braddock Avenue Queens Village, NY.
What is the asking price?
The asking price for this property is $1,298,000.
What are key features of this property?
This property features: Three one‑bedroom apartments plus additional studio/commercial space; Additional space includes a full bathroom; One‑car garage and private driveway for off‑street parking
