Building Details

Building Size 960 SF

Year Built 1953

Listed By: Fatma M. Abdalla CBR Show Phone

Source: Elliman

Added: Nov 28, 2025 Changed: Oct 5 Last Checked: Oct 5 at 6:31PM

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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 Fatma M. Abdalla CBR

Investment Insights

Based on property information with market context.

A multifamily property is available for sale. The list price is $448888.

Key Highlights

• Year Built: 1953
• Price: $11

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,467

Cap Rate

5.23%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$469,340 $469.3K

Cap Rate 7%

$335,243 $335.2K

Cap Rate 9%

$260,744 $260.7K

Market Conditions

NOI Build-Up for 960 SF

Gross rent

$44.4K $46.20/SF

− Vacancy

−$1.7K −$1.76/SF

EGI

$42.7K $44.44/SF

− OpEx

−$19.2K −$20.00/SF

NOI

$23.5K $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%

$469,340

Cap Rate 7%

$335,243

Cap Rate 9%

$260,744

Alternative Uses

Best Use

Apartment 5plus

$335.2K

$293.3K – $391.1K (±1% cap)

NOI $23,467 @ 7.0% cap · market cap 5.23%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$707.7K

$619.3K – $825.7K (±1% cap)

NOI $49,541 @ 7.0% cap · market cap 11.04%

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 Hair Salon Barber Shop Big Box & Wholesale Store Auto Parts Store Hotel & Motel

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

891

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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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 - Multifamily property for sale in Queens, New York.

Where is this apartment building located?

The property is located at 251-11 60th Ave 1 Queens, NY.

What is the asking price?

The asking price for this property is $448,888.

What are key features of this property?

This property features: Year Built: 1953; Price: $11