Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    249 Beach 117th Street Rockaway Park, NY 11694

    View on Map
    Claim this Listing
    For Sale
    $1,199,000

    MULTI_FAMILY - Rockaway Park, NY

    Type:Duplex
    Property size:
    2,624 SF
    Lot size:
    0.09 Acres
    Price / SF:
    $456/SF
    Added:
    Jan 23, 2026
    Days on Market:
    105
    Last Refresh:
    May 8 at 1:06 am

    Property Features for 249 Beach 117th Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Zoning
    R4
    Bedrooms
    7
    Bathrooms
    6
    Rooms
    Bedroom 2, Bathroom 4, Bathroom 2, Bedroom 5, Bedroom 3, Bedroom 7, Bedroom 1, Bathroom 5, Bathroom 6, Bathroom 3, Bedroom 6, Bathroom 1, Bedroom 4
    Parking features
    Garage - Detached
    Interior features
    Refrigerator, Stove
    Basement
    Finished, Full
    Standard status
    Active
    Size
    2,624 SF
    Lot size
    0.09 Acres

    Taxes and HOA fees

    Tax Annual Amount
    7000

    Building Details

    Year built
    1905
    Floors in Building
    3
    Number of units
    3
    Flooring type
    Hardwood, Tile
    Building materials
    Wood Frame, Masonry

    We can help!

    Listing Contact
    Lee S Wasserman

    Listing agent Lee S Wasserman

    Listing office Bergen Basin Realty LLC 3120 Quentin Rd, Brooklyn, NY

    Listing date Jan 23, 2026

    MLS# 498592 Listing URL

    Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Income‑generating multi‑family home boasting a $7,000 monthly rent roll ($84,000 annually).
    • Desirable location in Rockaway Park, a charming beach town in Queens.
    • Oversized 40x100 lot featuring a massive Victorian home.
    • Close to shopping, schools, houses of worship, and mass transit.
    • Short distance to the Rockaway Ferry Terminal and the beach.
    • Features a detached garage and hardwood/tile flooring.

    Overview

    Rockaway Park Multifamily Victorian Home

    This detached multifamily home is located in the Rockaway Park section of Queens, in a desirable beach town. Situated on a 40x100 oversized lot, this Victorian home is an investment property. The property generates a monthly rent roll of $7,000, totaling $84,000 annually. The property is located near shopping, schools, houses of worship, and mass transit, with convenient access to the Rockaway Ferry Terminal. The property is a short distance from the beach. The property is suitable for both living and earning income or as an investment property. The property size is 2,624 square feet and the lot size is 0.0918 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rockaway Park
    County
    Queens
    State
    New York
    Longitude
    -73.839083
    Latitude
    40.580701

    Nearby Similar for Sale

    • $1,199,000
      2,931 SF

      Rockaway Park Multifamily Investment Property

      Three-family building with renovated office, near beach and transportation.
      204 Beach 102nd Street, Rockaway Park, NY 11694
      View Details
    • $2,975,000
      9,800 SF

      Mixed-Use Building in Rockaway Park

      9,800 SF mixed-use building with retail and residential space.
      98-18 Rockaway Beach Blvd, Rockaway Park, NY
      View Details

    FAQs

    What type of property is this?
    Triplex - Detached multifamily home in desirable beach town, income-generating property.
    Where is this triplex located?
    The property is located at 249 Beach 117th Street Rockaway Park, NY.
    What is the asking price?
    The asking price for this property is $1,199,000.
    What are key features of this property?
    This property features: Income‑generating multi‑family home boasting a $7,000 monthly rent roll ($84,000 annually).; Desirable location in Rockaway Park, a charming beach town in Queens.; Oversized 40x100 lot featuring a massive Victorian home.
    (718) 763-4110
    We can help!
    Listing Contact
    Lee S Wasserman
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    249 Beach 117th Street, Rockaway Park, NY 11694
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!