Renovated Brick Apartment
For Sale
$2,588,888
53 53st, Woodside, NY 11377
COMMERCIAL - woodside, NY
Property Size6,324 SF
Lot Size0.06 Acres
Price / SF$409.38
Days on Market101
Property Features for 53 53st
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Residential
Bathrooms
12
Full bathrooms
12
Rooms
Bathroom 8, Bathroom 10, Bathroom 3, Bathroom 5, Bathroom 1, Bathroom 9, Bathroom 11, Bathroom 12, Bathroom 4, Bathroom 2, Bathroom 6, Bathroom 7
Subdivision
Flushing
View
City
High school district
30
Directions
google maps
Standard status
Active
Size
6,324 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
42772
Utilities
Heating system
Hot Water(Heating), Natural Gas
Water source
Public
Amenities
on-site storage bins
Building Details
Year built
1928
Floors in Building
3
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Rubber
Listing Agency:
ONE STOP MULTISERVICE INC
(718) 554-0257
Listed By:
Raymond Rivera
(718) 554-0257
Added: Apr 30
Changed: Aug 7
Last Checked: Aug 8 at 2:06PM
MLS# 11737551
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 12-unit apartment building contains approximately 6,324 square feet of residential living space and was built in 1928 with brick construction. Seven apartments have been renovated with updated kitchens, bathrooms, flooring, and energy-efficient windows. Several units also include electrical and plumbing updates. Building improvements include a new roof and boiler system, while on-site storage bins provide an additional income source.
The property is located in Woodside, Queens, within walking distance of the 7 Train and approximately 12 minutes from Midtown Manhattan. Shopping, supermarkets, restaurants, cafes, parks, schools, and other neighborhood amenities are located nearby. Public water service, hot water heating, natural gas, tile, hardwood, and a rubber roof are also reported for the property.
The property is located in Woodside, Queens, within walking distance of the 7 Train and approximately 12 minutes from Midtown Manhattan. Shopping, supermarkets, restaurants, cafes, parks, schools, and other neighborhood amenities are located nearby. Public water service, hot water heating, natural gas, tile, hardwood, and a rubber roof are also reported for the property.
Key Highlights
- 12‑unit brick apartment building with approximately 6,324 square feet
- Seven apartments recently renovated with updated kitchens, bathrooms, flooring, and windows
- New roof and boiler system
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
$154,587
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
5.97%
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%
$3,091,740
$3.1M
Cap Rate 7%
$2,208,386
$2.2M
Cap Rate 9%
$1,717,633
$1.7M
Market Conditions
NOI Build-Up for 6,324 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
$292.2K $46.20/SF
− Vacancy
−$11.1K −$1.76/SF
EGI
$281.1K $44.44/SF
− OpEx
−$126.5K −$20.00/SF
NOI
$154.6K $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%
$3,091,740
Cap Rate 7%
$2,208,386
Cap Rate 9%
$1,717,633
Alternative Uses
Best Use
Apartment 5plus
$2.21M
$1.93M – $2.58M
NOI $154,587 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.66M
$4.08M – $5.44M
NOI $326,349 @ 7.0% cap · market cap 12.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
4,276
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Twelve-unit multifamily property with updated apartments, recent building improvements, and proximity to the 7 Train.
Where is this apartment building located?
The property is located at 53 53st Woodside, NY.
What is the asking price?
The asking price for this property is $2,588,888.
What are key features of this property?
This property features: 12‑unit brick apartment building with approximately 6,324 square feet; Seven apartments recently renovated with updated kitchens, bathrooms, flooring, and windows; New roof and boiler system
