Corner Two-Bedroom
For Sale
$465,000
6550 WETHEROLE ST, Flushing, NY 11374
Two full baths, hardwood flooring, elevator access, and a doorman building support comfortable residential use.
Property Size1,200 SF
Price / SF$387.50
Days on Market218
Property Features for 6550 WETHEROLE ST
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Amenities
doorman
live-in super
A/C - Other
Dishwasher
Elevator
3
No Fence
Parking.
1 Garage Spaces. Assigned Parking Space, Garage, No Parking.
Other, None.
Building Details
Year Built
1959
Listing Agency:
(212) 896-8600
Listed By:
Argo Residential
(516) 398-4850
Source:
Xome
Added: Feb 1
Changed: Sep 2
Last Checked: Sep 7 at 5:19AM
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 Argo Residential
Investment Insights
Based on property information with market context.
This residential income property is a corner apartment with two bedrooms and two full bathrooms. The residence includes hardwood floors, air conditioning, and a dishwasher, while east- and south-facing exposures bring natural light into the home. Elevator service supports convenient access within the building.
The property is located at 6550 Wetherole St in Flushing, NY 11374. Building amenities include a doorman, a live-in superintendent, and access to abundant shopping in the surrounding area. The building was constructed in 1959.
The property is located at 6550 Wetherole St in Flushing, NY 11374. Building amenities include a doorman, a live-in superintendent, and access to abundant shopping in the surrounding area. The building was constructed in 1959.
Key Highlights
- Two‑bedroom, two‑bath corner apartment
- 1,200 square feet of living space
- East- and south‑facing exposures
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
$29,333
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
6.31%
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%
$586,660
$586.7K
Cap Rate 7%
$419,043
$419.0K
Cap Rate 9%
$325,922
$325.9K
Market Conditions
NOI Build-Up for 1,200 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
$55.4K $46.20/SF
− Vacancy
−$2.1K −$1.76/SF
EGI
$53.3K $44.44/SF
− OpEx
−$24.0K −$20.00/SF
NOI
$29.3K $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%
$586,660
Cap Rate 7%
$419,043
Cap Rate 9%
$325,922
Alternative Uses
Best Use
Apartment 5plus
$419.0K
$366.7K – $488.9K
NOI $29,333 @ 7.0% cap · market cap 6.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$884.7K
$774.1K – $1.03M
NOI $61,926 @ 7.0% cap · market cap 13.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
5,664
Businesses Nearby
Explore this area
Business Placement
Demographics for 11374, NY
47,129
Population
21,197
Households
2.2
Avg Household Size
43
Median Age
51%
College-Educated
90%
High-School Grad
0.9 sq mi
ZIP Area
52,366
Density / Sq Mi
$86,333
Median Household Income
$58,309
Median Earnings
$1,957
Median Rent
$484,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two full baths, hardwood flooring, elevator access, and a doorman building support comfortable residential use.
Where is this residential income property located?
The property is located at 6550 WETHEROLE ST Flushing, NY.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Two‑bedroom, two‑bath corner apartment; 1,200 square feet of living space; East- and south‑facing exposures
