Woodside Multifamily and Medical
For Sale
Contact for pricing
41-53 68 Street, New York, NY 11377
Legal 8-family plus 2 offices near transportation.
Property Size3,120 SF
Price / SF$573.72
Days on Market91
Property Features for 41-53 68 Street
General Information
Standard status
Active
Size
3,120 SF
Property subtype
Multifamily
Zoning
R5D
Building Details
Year Built
1971
Units
8
Listing Agency:
AAA Young Shuen Realty Inc
(917) 637-0283
Listed By:
Hui Fang Chen · License #40CH0788536
Source:
Crexi
Added: May 15
Changed: Aug 8
Last Checked: Aug 12 at 1:09PM
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 AAA Young Shuen Realty Inc
Investment Insights
Based on property information with market context.
This property features a legal 8-family building with two doctor's offices, situated in the heart of Woodside. Located along Woodside Avenue and two blocks from the Roosevelt Avenue 69 Street subway station, it is also near the Woodside LIRR. The building has dimensions of 52x60 and is zoned R5D. The property contains high-end building materials and has been recently renewed. The residential units include one 2-bedroom/1-bath apartment, three 1-bedroom/1-bath apartments, and four studio apartments. Additionally, there are two doctor's offices located in the basement. The property is an income producer and presents a great investment opportunity. There is the ability to have a 3-family vacant at closing.
Key Highlights
- Legal 8‑family building with 2 doctor's offices in a prime Woodside location.
- High income‑producing property with potential for immediate revenue.
- Excellent transit access: close to 69th Street subway and Woodside LIRR.
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
$97,696
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
5.46%
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%
$1,953,920
$2.0M
Cap Rate 7%
$1,395,657
$1.4M
Cap Rate 9%
$1,085,511
$1.1M
Market Conditions
NOI Build-Up for 3,120 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
$160.6K $51.48/SF
− Vacancy
−$30.4K −$9.73/SF
EGI
$130.3K $41.75/SF
− OpEx
−$32.6K −$10.44/SF
NOI
$97.7K $31.31/SF
Area
New York, NY
Vacancy
18.90%
Lease Rate
$51.48 /SF/Yr
Expense Ratio
25.00%
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%
$1,953,920
Cap Rate 7%
$1,395,657
Cap Rate 9%
$1,085,511
Alternative Uses
Best Use
Office B
$1.40M
$1.22M – $1.63M
NOI $97,696 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$1.39M
$1.22M – $1.63M
NOI $97,616 @ 7.0% cap · market cap 5.45%
Theoretical Best
Specialty Retail
$7.77M
$6.80M – $9.06M
NOI $543,629 @ 7.0% cap · market cap 30.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
16,243
Businesses Nearby
Explore this area
Business Placement
Demographics for 11377, NY
91,512
Population
34,928
Households
2.6
Avg Household Size
39
Median Age
33%
College-Educated
82%
High-School Grad
2.5 sq mi
ZIP Area
36,605
Density / Sq Mi
$73,292
Median Household Income
$45,978
Median Earnings
$1,802
Median Rent
$670,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Legal 8-family plus 2 offices near transportation.
Where is this apartment building located?
The property is located at 41-53 68 Street New York, NY.
What is the asking price?
The asking price for this property is $1,790,000.
What are key features of this property?
This property features: Legal 8‑family building with 2 doctor's offices in a prime Woodside location.; High income‑producing property with potential for immediate revenue.; Excellent transit access: close to 69th Street subway and Woodside LIRR.
