Spacious Studio in Jackson
For Sale
$190,000
35-51 85th St 5N, Queens, NY 11372
Bright studio with balcony, near transportation and amenities.
Property Size558 SF
Days on Market269
Property Features for 35-51 85th St 5N
General Information
Standard status
Active
Size
558 SF
Property subtype
Residential
Building Details
Building Size
558 SF
Year Built
1953
Listing Agency:
MITRA HAKIMI REALTY GROUP LLC
(718) 268-5588
Listed By:
Etan Hakimi · License #1014541
(718) 268-5588
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 21
Last Checked: Aug 23 at 10:16AM
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 MITRA HAKIMI REALTY GROUP LLC
Investment Insights
Based on property information with market context.
Located in Jackson Heights, this studio apartment features a living area, a separate kitchen/dining space, multiple closets, and a private balcony. The building is pet-friendly with board approval and includes an elevator, a playground and game room, laundry facilities, and a live-in super. The property is located near the Q49 and Q33 buses and is a short walk to the 7 train, as well as an array of restaurants, cafes, and shops.
Key Highlights
- Spacious studio with separate kitchen/dining area and multiple closets.
- Enjoy your private balcony.
- Convenient location near public transportation (Q49, Q33 buses and 7 train).
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
$13,640
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
7.18%
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%
$272,800
$272.8K
Cap Rate 7%
$194,857
$194.9K
Cap Rate 9%
$151,556
$151.6K
Market Conditions
NOI Build-Up for 558 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
$25.8K $46.20/SF
− Vacancy
−$980 −$1.76/SF
EGI
$24.8K $44.44/SF
− OpEx
−$11.2K −$20.00/SF
NOI
$13.6K $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%
$272,800
Cap Rate 7%
$194,857
Cap Rate 9%
$151,556
Alternative Uses
Best Use
Apartment 5plus
$194.9K
$170.5K – $227.3K
NOI $13,640 @ 7.0% cap · market cap 7.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$411.4K
$359.9K – $479.9K
NOI $28,795 @ 7.0% cap · market cap 15.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,269
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?
Apartment building - Bright studio with balcony, near transportation and amenities.
Where is this apartment building located?
The property is located at 35-51 85th St 5N Queens, NY.
What is the asking price?
The asking price for this property is $190,000.
What are key features of this property?
This property features: Spacious studio with separate kitchen/dining area and multiple closets.; Enjoy your private balcony.; Convenient location near public transportation (Q49, Q33 buses and 7 train).
