Long Island City Multifamily
For Sale
$1,399,000
Pending
36-25 30th St, Queens, NY 11106
Six-unit building near subway with Manhattan access.
Property Size3,645 SF
Lot Size1,800.00 Acres
Days on Market144
Property Features for 36-25 30th St
General Information
Standard status
Pending
Size
3,645 SF
Lot size
1,800.00 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$19,373
Building Details
Building Size
3,645 SF
Year Built
1921
Units
6
Listing Agency:
(917) 518-3031
Listed By:
Irene Nictas
(917) 518-3031
Source:
Elliman
Added: Mar 31
Changed: Aug 19
Last Checked: Aug 20 at 11:56AM
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 Irene Nictas
Investment Insights
Based on property information with market context.
This is a well-maintained six-family walk-up building located in Long Island City. The property features six one-bedroom apartments. Some units include new flooring, lighting, and appliances. Select units offer windowed eat-in kitchen/living areas with cabinet space and closets. The building is located one block from shops, restaurants, and the N/W 36th Avenue Subway Station, providing access to Manhattan. Heat and hot water are included in all rentals.
Key Highlights
- Income‑producing 6‑family building
- Convenient location: one block from shops, restaurants, and the N/W 36th Avenue Subway Station
- Easy commute to Manhattan: only two stops
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
$89,100
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
6.37%
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%
$1,782,000
$1.8M
Cap Rate 7%
$1,272,857
$1.3M
Cap Rate 9%
$990,000
$990.0K
Market Conditions
NOI Build-Up for 3,645 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
$168.4K $46.20/SF
− Vacancy
−$6.4K −$1.76/SF
EGI
$162.0K $44.44/SF
− OpEx
−$72.9K −$20.00/SF
NOI
$89.1K $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%
$1,782,000
Cap Rate 7%
$1,272,857
Cap Rate 9%
$990,000
Alternative Uses
Best Use
Apartment 5plus
$1.27M
$1.11M – $1.49M
NOI $89,100 @ 7.0% cap · market cap 6.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.69M
$2.35M – $3.13M
NOI $188,099 @ 7.0% cap · market cap 13.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,065
Businesses Nearby
Explore this area
Business Placement
Demographics for 11106, NY
41,722
Population
21,681
Households
1.9
Avg Household Size
37
Median Age
52%
College-Educated
89%
High-School Grad
0.9 sq mi
ZIP Area
46,358
Density / Sq Mi
$85,573
Median Household Income
$62,254
Median Earnings
$2,032
Median Rent
$639,200
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 - Six-unit building near subway with Manhattan access.
Where is this apartment building located?
The property is located at 36-25 30th St Queens, NY.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Income‑producing 6‑family building; Convenient location: one block from shops, restaurants, and the N/W 36th Avenue Subway Station; Easy commute to Manhattan: only two stops
