Douglaston Co-op with
For Sale
$330,000
Pending
241-20 Northern Blvd 2C, Queens, NY 11362
Well-maintained 2-bedroom co-op in prime Queens location.
Property Size1,000 SF
Days on Market266
Property Features for 241-20 Northern Blvd 2C
General Information
Standard status
Pending
Size
1,000 SF
Property subtype
Residential
Building Details
Building Size
1,000 SF
Year Built
1964
Listing Agency:
COLDWELL BANKER AMERICAN HOMES
(516) 697-5839
Listed By:
Lisa M. Monzillo
(516) 697-5839
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 7
Last Checked: Aug 20 at 11:16AM
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 COLDWELL BANKER AMERICAN HOMES
Investment Insights
Based on property information with market context.
This is a well-maintained 2-bedroom co-op located in a desirable Douglaston community. The residence features hardwood floors, an updated kitchen, and closet space. A dedicated on-site parking spot is included with the sale. Residents have access to a communal laundry room and a live-in superintendent. The property is located minutes from the Douglaston LIRR station, shopping, dining, and parks, offering access to city commuting and everyday conveniences.
Key Highlights
- Dedicated on‑site parking spot included - a rare amenity!
- Prime location: Minutes from Douglaston LIRR, shopping, dining, and parks.
- Updated kitchen.
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
$24,444
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
7.41%
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%
$488,880
$488.9K
Cap Rate 7%
$349,200
$349.2K
Cap Rate 9%
$271,600
$271.6K
Market Conditions
NOI Build-Up for 1,000 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
$46.2K $46.20/SF
− Vacancy
−$1.8K −$1.76/SF
EGI
$44.4K $44.44/SF
− OpEx
−$20.0K −$20.00/SF
NOI
$24.4K $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%
$488,880
Cap Rate 7%
$349,200
Cap Rate 9%
$271,600
Alternative Uses
Best Use
Apartment 5plus
$349.2K
$305.6K – $407.4K
NOI $24,444 @ 7.0% cap · market cap 7.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$737.2K
$645.1K – $860.1K
NOI $51,605 @ 7.0% cap · market cap 15.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,666
Businesses Nearby
Explore this area
Business Placement
Demographics for 11362, NY
18,139
Population
7,634
Households
2.4
Avg Household Size
48
Median Age
52%
College-Educated
93%
High-School Grad
2.1 sq mi
ZIP Area
8,638
Density / Sq Mi
$118,989
Median Household Income
$62,132
Median Earnings
$2,548
Median Rent
$634,500
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 - Well-maintained 2-bedroom co-op in prime Queens location.
Where is this apartment building located?
The property is located at 241-20 Northern Blvd 2C Queens, NY.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Dedicated on‑site parking spot included - a rare amenity!; Prime location: Minutes from Douglaston LIRR, shopping, dining, and parks.; Updated kitchen.
