Multifamily
New
For Sale
$1,580,000
6144 164th Street, Flushing, NY 11365
Existing multifamily property with a driveway in Queens County.
Property Size2,698 SF
Days on Market4
Property Features for 6144 164th Street
General Information
Standard status
Active
Size
2,698 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$11,380
Amenities
Natural Gas
Open Floorplan
Driveway
Building Details
Building Size
2,698 SF
Year Built
1945
Listing Agency:
Remax 1st Choice
(917) 406-6026
Listed By:
Po Wei Tair · License #7.51E+13
(917) 406-6026
Source:
Evrealestate
Added: Aug 10
Changed: Aug 13
Last Checked: Aug 13 at 3:31AM
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 multifamily property is located at 6144 164th Street in Flushing, New York. The building dates to 1945 and includes a driveway. Queens County provides the broader location context for the asset.
Key Highlights
- Multifamily property at 6144 164th Street, Flushing, NY 11365
- Located in Queens County
- Built in 1945
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
$65,951
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
4.17%
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%
$1,319,020
$1.3M
Cap Rate 7%
$942,157
$942.2K
Cap Rate 9%
$732,789
$732.8K
Market Conditions
NOI Build-Up for 2,698 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
$124.6K $46.20/SF
− Vacancy
−$4.7K −$1.76/SF
EGI
$119.9K $44.44/SF
− OpEx
−$54.0K −$20.00/SF
NOI
$66.0K $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%
$1,319,020
Cap Rate 7%
$942,157
Cap Rate 9%
$732,789
Alternative Uses
Best Use
Apartment 5plus
$942.2K
$824.4K – $1.10M
NOI $65,951 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,230 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,149
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Existing multifamily property with a driveway in Queens County.
Where is this multifamily property located?
The property is located at 6144 164th Street Flushing, NY.
What is the asking price?
The asking price for this property is $1,580,000.
What are key features of this property?
This property features: Multifamily property at 6144 164th Street, Flushing, NY 11365; Located in Queens County; Built in 1945
