Four-Unit Brick Quadplex with Separate
For Sale
$1,399,900
Pending
45-36 220th Place, Bayside, NY 11361
Vacant four-unit brick quadplex built in 1979 with separate electric and gas meters for each unit.
Property Size3,741 SF
Days on Market77
Property Features for 45-36 220th Place
General Information
Standard status
Pending
Size
3,741 SF
Property subtype
Quadruplex
Additional Details
Cap Rate
5%
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$35,247
Building Details
Building Size
3,741 SF
Year Built
1979
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
B Square Realty
Listed By:
Liu Hu
(917) 388-0863
Source:
Barbieliteam
Added: Jul 10
Changed: Sep 11
Last Checked: Sep 24 at 3:55PM
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 B Square Realty
Investment Insights
Based on property information with market context.
This four-unit brick quadplex was built in 1979 and has all units currently vacant. The building includes separate electric and gas meters for each unit, supporting convenient tenant-level metering for both owner-occupant and investment use.
The property is located in Bayside, with the public remarks noting it is about a half-block to Northern Blvd. It is described as near parks and Oakland Lake, and close to transit including bus service (Q12 to Flushing & Long Island) and the LIRR.
The remarks also cite an estimated cap rate of approximately 5% and reference Queens School District 26 (PS 203 and Bayside High School), along with convenience to nearby shopping including Bay Terrace Mall.
The property is located in Bayside, with the public remarks noting it is about a half-block to Northern Blvd. It is described as near parks and Oakland Lake, and close to transit including bus service (Q12 to Flushing & Long Island) and the LIRR.
The remarks also cite an estimated cap rate of approximately 5% and reference Queens School District 26 (PS 203 and Bayside High School), along with convenience to nearby shopping including Bay Terrace Mall.
Key Highlights
- All four units are vacant
- Built in 1979
- Separate electric and gas meters for each unit
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
$91,447
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
6.53%
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%
$1,828,940
$1.8M
Cap Rate 7%
$1,306,386
$1.3M
Cap Rate 9%
$1,016,078
$1.0M
Market Conditions
NOI Build-Up for 3,741 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
$172.8K $46.20/SF
− Vacancy
−$6.6K −$1.76/SF
EGI
$166.3K $44.44/SF
− OpEx
−$74.8K −$20.00/SF
NOI
$91.4K $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%
$1,828,940
Cap Rate 7%
$1,306,386
Cap Rate 9%
$1,016,078
Alternative Uses
Best Use
Apartment 5plus
$1.31M
$1.14M – $1.52M
NOI $91,447 @ 7.0% cap · market cap 6.53%
Second Best
Multifamily LT 5
$884.6K
$774.0K – $1.03M
NOI $61,920 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$2.76M
$2.41M – $3.22M
NOI $193,054 @ 7.0% cap · market cap 13.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,275
Businesses Nearby
Explore this area
Business Placement
Demographics for 11361, NY
29,116
Population
11,934
Households
2.4
Avg Household Size
43
Median Age
48%
College-Educated
88%
High-School Grad
1.7 sq mi
ZIP Area
17,127
Density / Sq Mi
$108,391
Median Household Income
$58,410
Median Earnings
$2,315
Median Rent
$900,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Vacant four-unit brick quadplex built in 1979 with separate electric and gas meters for each unit.
Where is this quadplex located?
The property is located at 45-36 220th Place Bayside, NY.
What is the asking price?
The asking price for this property is $1,399,900.
What are key features of this property?
This property features: All four units are vacant; Built in 1979; Separate electric and gas meters for each unit
