Triplex with Finished
For Sale
$1,588,000
64-32 Perry Avenue, Maspeth, NY 11378
Three residential units have distinct layouts, separate utility systems, and bonus space configured as an additional one-bedroom, one-bath area.
Property Size2,652 SF
Lot Size0.06 Acres
Price / SF$598.79
Days on Market62
Property Features for 64-32 Perry Avenue
General Information
Standard status
Active
Size
2,652 SF
Lot size
0.06 Acres
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Additional Details
Gross Income
$103,200
Taxes and HOA fees
Annual Taxes
$10,558
Building Details
Building Size
2,652 SF
Year Built
2004
Buildings
1
Units
3
Listing Agency:
Skylux Realty Inc
(516) 587-9113
Listed By:
Fei Guo · License #10401366341
(516) 587-9113
Source:
Callexitfirst
Added: Jun 29
Changed: Aug 28
Last Checked: Aug 25 at 9:10AM
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 Skylux Realty Inc
Investment Insights
Based on property information with market context.
This 2004 triplex contains approximately 2,652 square feet of living space on a 2,504-square-foot lot, with a 17-by-52-foot building footprint. The first floor includes a two-bedroom, one-bath unit, while the second floor offers three bedrooms and one bath. The third floor has another two-bedroom, one-bath unit. A finished attic adds a one-bedroom, one-bath area for flexible bonus space.
Separate utility infrastructure includes three gas boilers, three gas meters, and three electric meters. The property is located at 64-32 Perry Avenue in Maspeth, near I-495, I-278, the Midtown Tunnel, and major bridges serving Manhattan. Bus service includes the Q18, Q39, Q47, Q58, and QM24 express route, with connections to the 7, M, and R subway lines. Grand Avenue shopping, Queens Center Mall, Rego Center, supermarkets, schools, parks, and other commercial services are also nearby.
Separate utility infrastructure includes three gas boilers, three gas meters, and three electric meters. The property is located at 64-32 Perry Avenue in Maspeth, near I-495, I-278, the Midtown Tunnel, and major bridges serving Manhattan. Bus service includes the Q18, Q39, Q47, Q58, and QM24 express route, with connections to the 7, M, and R subway lines. Grand Avenue shopping, Queens Center Mall, Rego Center, supermarkets, schools, parks, and other commercial services are also nearby.
Key Highlights
- Three‑unit layout: 2‑bedroom/1‑bath first floor, 3‑bedroom/1‑bath second floor, and 2‑bedroom/1‑bath third floor
- Finished attic includes an additional 1‑bedroom/1‑bath area
- Approximately 2,652 sq. ft. of living space on a 2,504 sq. ft. lot
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
$64,827
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
4.08%
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%
$1,296,540
$1.3M
Cap Rate 7%
$926,100
$926.1K
Cap Rate 9%
$720,300
$720.3K
Market Conditions
NOI Build-Up for 2,652 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
$122.5K $46.20/SF
− Vacancy
−$4.7K −$1.76/SF
EGI
$117.9K $44.44/SF
− OpEx
−$53.0K −$20.00/SF
NOI
$64.8K $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%
$1,296,540
Cap Rate 7%
$926,100
Cap Rate 9%
$720,300
Alternative Uses
Best Use
Apartment 5plus
$926.1K
$810.3K – $1.08M
NOI $64,827 @ 7.0% cap · market cap 4.08%
Second Best
Multifamily LT 5
$627.1K
$548.7K – $731.6K
NOI $43,895 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$1.96M
$1.71M – $2.28M
NOI $136,856 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,990
Businesses Nearby
Explore this area
Business Placement
Demographics for 11378, NY
38,288
Population
14,522
Households
2.6
Avg Household Size
40
Median Age
26%
College-Educated
83%
High-School Grad
2.4 sq mi
ZIP Area
15,953
Density / Sq Mi
$84,762
Median Household Income
$52,281
Median Earnings
$1,932
Median Rent
$832,700
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?
Triplex - Three residential units have distinct layouts, separate utility systems, and bonus space configured as an additional one-bedroom, one-bath area.
Where is this triplex located?
The property is located at 64-32 Perry Avenue Maspeth, NY.
What is the asking price?
The asking price for this property is $1,588,000.
What are key features of this property?
This property features: Three‑unit layout: 2‑bedroom/1‑bath first floor, 3‑bedroom/1‑bath second floor, and 2‑bedroom/1‑bath third floor; Finished attic includes an additional 1‑bedroom/1‑bath area; Approximately 2,652 sq. ft. of living space on a 2,504 sq. ft. lot
