Residential Income Property with
For Sale
$1,498,000
Pending
6119 170 Street, Fresh Meadows, NY 11365
Finished storage space and wall/window units are among the property's recorded interior features.
Property Size2,150 SF
Days on Market19
Property Features for 6119 170 Street
General Information
Standard status
Pending
Size
2,150 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$10,001
Amenities
Wall/Window Unit(s)
Natural Gas, Other
Finished, Storage Space
Other
Driveway
Building Details
Building Size
2,150 SF
Year Built
1930
Listing Agency:
Remax 1st Choice
Listed By:
Yixiong Zheng
(646) 897-9960
Source:
Evrealestate
Added: Sep 10
Changed: Sep 26
Last Checked: Sep 26 at 2:56PM
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 Remax 1st Choice
Investment Insights
Based on property information with market context.
This residential income property at 6119 170 Street in Fresh Meadows was built in 1930. Interior features include wall/window units and finished storage space. A driveway is located on the property.
Key Highlights
- Built in 1930
- Driveway on the property
- Finished storage space
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
$52,556
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
3.51%
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%
$1,051,120
$1.1M
Cap Rate 7%
$750,800
$750.8K
Cap Rate 9%
$583,956
$584.0K
Market Conditions
NOI Build-Up for 2,150 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
$99.3K $46.20/SF
− Vacancy
−$3.8K −$1.76/SF
EGI
$95.6K $44.44/SF
− OpEx
−$43.0K −$20.00/SF
NOI
$52.6K $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%
$1,051,120
Cap Rate 7%
$750,800
Cap Rate 9%
$583,956
Alternative Uses
Best Use
Apartment 5plus
$750.8K
$657.0K – $875.9K
NOI $52,556 @ 7.0% cap · market cap 3.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.58M
$1.39M – $1.85M
NOI $110,950 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,540
Businesses Nearby
Explore this area
Business Placement
Demographics for 11365, NY
46,908
Population
16,626
Households
2.8
Avg Household Size
41
Median Age
39%
College-Educated
84%
High-School Grad
2.5 sq mi
ZIP Area
18,763
Density / Sq Mi
$85,375
Median Household Income
$51,458
Median Earnings
$1,869
Median Rent
$911,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Finished storage space and wall/window units are among the property's recorded interior features.
Where is this residential income property located?
The property is located at 6119 170 Street Fresh Meadows, NY.
What is the asking price?
The asking price for this property is $1,498,000.
What are key features of this property?
This property features: Built in 1930; Driveway on the property; Finished storage space
