Updated Apartment in Parkwood
For Sale
$310,000
252-15 72nd Ave 166A, Queens, NY 11426
Recently updated apartment with stainless appliances, close to amenities.
Property Size820 SF
Days on Market268
Property Features for 252-15 72nd Ave 166A
General Information
Standard status
Active
Size
820 SF
Property subtype
Residential
Building Details
Building Size
820 SF
Year Built
1950
Listing Agency:
(718) 501-2838
Listed By:
Lily Fung
(718) 501-2838
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 15
Last Checked: Aug 23 at 5:03AM
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 Lily Fung
Investment Insights
Based on property information with market context.
This recently updated first-floor apartment is located in Parkwood Estates. It features two bedrooms and one bathroom. The spacious living room includes an electric fireplace and provides space for both seating and dining. The kitchen is equipped with stainless steel appliances, cabinet storage, and workspace for meal preparation. Each bedroom includes a closet and can accommodate standard bedroom furnishings. The full bathroom has been updated with modernized materials. The building's location provides convenient access to the community laundry room, development pathways, parking areas, transportation, shopping, and local services.
Key Highlights
- Recently updated first‑floor apartment.
- Stainless steel appliances in the kitchen.
- Spacious living room with electric fireplace.
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
$20,044
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
6.47%
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%
$400,880
$400.9K
Cap Rate 7%
$286,343
$286.3K
Cap Rate 9%
$222,711
$222.7K
Market Conditions
NOI Build-Up for 820 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
$37.9K $46.20/SF
− Vacancy
−$1.4K −$1.76/SF
EGI
$36.4K $44.44/SF
− OpEx
−$16.4K −$20.00/SF
NOI
$20.0K $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%
$400,880
Cap Rate 7%
$286,343
Cap Rate 9%
$222,711
Alternative Uses
Best Use
Apartment 5plus
$286.3K
$250.6K – $334.1K
NOI $20,044 @ 7.0% cap · market cap 6.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$604.5K
$529.0K – $705.3K
NOI $42,316 @ 7.0% cap · market cap 13.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
887
Businesses Nearby
Explore this area
Business Placement
Demographics for 11426, NY
19,343
Population
6,813
Households
2.8
Avg Household Size
43
Median Age
44%
College-Educated
88%
High-School Grad
1.4 sq mi
ZIP Area
13,816
Density / Sq Mi
$107,591
Median Household Income
$57,622
Median Earnings
$2,158
Median Rent
$676,100
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 - Recently updated apartment with stainless appliances, close to amenities.
Where is this apartment building located?
The property is located at 252-15 72nd Ave 166A Queens, NY.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Recently updated first‑floor apartment.; Stainless steel appliances in the kitchen.; Spacious living room with electric fireplace.
