Renovated
New
For Sale
$1,579,000
3456 70th Street, Jackson Heights, NY 11372
Three residential units offer matching two-bedroom layouts with living and dining areas, kitchens, and full bathrooms.
Property Size2,100 SF
Days on Market3
Property Features for 3456 70th Street
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Triplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,553
Building Details
Building Size
2,100 SF
Year Built
1935
Buildings
1
Listing Agency:
Exit Realty Prime
Listed By:
Mehar A. Khanzada · License #10301204594
(718) 262-0205
Source:
Serhant
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 1 at 9:16PM
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 Exit Realty Prime
Investment Insights
Based on property information with market context.
This renovated triplex contains three residential units, each arranged with two bedrooms, a combined living and dining area, a kitchen, and a full bathroom. The property was built in 1935 and includes private rear parking, although the available parking count is not specified consistently.
Located in Jackson Heights, the property is near buses, schools, shops, and restaurants. The E, F, R, M, and 7 train services are accessible from the area, with connections toward Manhattan. The property also provides access to the BQE and GCP.
Located in Jackson Heights, the property is near buses, schools, shops, and restaurants. The E, F, R, M, and 7 train services are accessible from the area, with connections toward Manhattan. The property also provides access to the BQE and GCP.
Key Highlights
- Three‑unit residential configuration with two bedrooms in each unit
- Each unit includes living and dining areas, a kitchen, and a full bathroom
- Fully renovated property
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
$51,333
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
3.25%
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%
$1,026,660
$1.0M
Cap Rate 7%
$733,329
$733.3K
Cap Rate 9%
$570,367
$570.4K
Market Conditions
NOI Build-Up for 2,100 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
$97.0K $46.20/SF
− Vacancy
−$3.7K −$1.76/SF
EGI
$93.3K $44.44/SF
− OpEx
−$42.0K −$20.00/SF
NOI
$51.3K $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%
$1,026,660
Cap Rate 7%
$733,329
Cap Rate 9%
$570,367
Alternative Uses
Best Use
Apartment 5plus
$733.3K
$641.7K – $855.6K
NOI $51,333 @ 7.0% cap · market cap 3.25%
Second Best
Multifamily LT 5
$496.5K
$434.5K – $579.3K
NOI $34,758 @ 7.0% cap · market cap 2.20%
Theoretical Best
Office A
$1.55M
$1.35M – $1.81M
NOI $108,370 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
7,113
Businesses Nearby
Explore this area
Business Placement
Demographics for 11372, NY
68,000
Population
26,613
Households
2.6
Avg Household Size
41
Median Age
35%
College-Educated
81%
High-School Grad
0.7 sq mi
ZIP Area
97,143
Density / Sq Mi
$77,133
Median Household Income
$44,415
Median Earnings
$1,795
Median Rent
$454,400
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?
Triplex - Three residential units offer matching two-bedroom layouts with living and dining areas, kitchens, and full bathrooms.
Where is this triplex located?
The property is located at 3456 70th Street Jackson Heights, NY.
What is the asking price?
The asking price for this property is $1,579,000.
What are key features of this property?
This property features: Three‑unit residential configuration with two bedrooms in each unit; Each unit includes living and dining areas, a kitchen, and a full bathroom; Fully renovated property
