Building Details

Building Size 705 SF

Year Built 1950

Listed By: Anne Akde-Donohue Show Phone

Source: Elliman

Added: Nov 28, 2025 Changed: Oct 8 Last Checked: Oct 7 at 1:51PM

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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 Anne Akde-Donohue

Investment Insights

Based on property information with market context.

Located in Queens Village, this is a spacious 3-bedroom lower-level unit. The property features a comfortable layout and updated interiors. It offers convenient access to local schools, shopping, and transportation. The property is located in a quiet, residential neighborhood with a welcoming community. It is ideal for families.

Key Highlights

• Spacious 3‑bedroom unit with updated interiors
• Convenient access to local schools, shopping, and transportation
• Lower‑level unit

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,233

Cap Rate

5.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$344,660 $344.7K

Cap Rate 7%

$246,186 $246.2K

Cap Rate 9%

$191,478 $191.5K

Market Conditions

NOI Build-Up for 705 SF

Gross rent

$32.6K $46.20/SF

− Vacancy

−$1.2K −$1.76/SF

EGI

$31.3K $44.44/SF

− OpEx

−$14.1K −$20.00/SF

NOI

$17.2K $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 Rate 5%

$344,660

Cap Rate 7%

$246,186

Cap Rate 9%

$191,478

Alternative Uses

Best Use

Apartment 5plus

$246.2K

$215.4K – $287.2K (±1% cap)

NOI $17,233 @ 7.0% cap · market cap 5.08%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$519.7K

$454.8K – $606.4K (±1% cap)

NOI $36,381 @ 7.0% cap · market cap 10.73%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Law Firm Parking Lot & Garage Building Supply Auto Repair Shop Furniture & Home Goods Accounting Firm

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

857

Businesses Nearby

Explore this area Business Placement

Demographics for 11427, NY

24,555

Population

8,435

Households

2.9

Avg Household Size

44

Median Age

36%

College-Educated

84%

High-School Grad

1.6 sq mi

ZIP Area

15,347

Density / Sq Mi

$92,129

Median Household Income

$48,439

Median Earnings

$1,697

Median Rent

$690,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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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 - Spacious lower-level unit with updated interiors, convenient location.

Where is this apartment building located?

The property is located at 228-08 Stronghurst Ave Lower Queens, NY.

What is the asking price?

The asking price for this property is $339,000.

What are key features of this property?

This property features: Spacious 3‑bedroom unit with updated interiors; Convenient access to local schools, shopping, and transportation; Lower‑level unit