Vacant Two-Family
For Sale
$1,149,000
6669 73rd Place, Middle Village, NY 11379
Both residences offer two bedrooms, living and dining areas, a kitchen, and a full bathroom.
Property Size3,035 SF
Days on Market21
Property Features for 6669 73rd Place
General Information
Standard status
Active
Size
3,035 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,000
Building Details
Building Size
3,035 SF
Year Built
1965
Buildings
1
Stories
2
Listing Agency:
Crifasi Real Estate Inc
(718) 894-8700
Listed By:
Aneta Pycior
Source:
Serhant
Added: Aug 3
Changed: Aug 22
Last Checked: Aug 23 at 8:39AM
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 Crifasi Real Estate Inc
Investment Insights
Based on property information with market context.
This two-family duplex contains two vacant residences, each arranged with a living room, dining room, kitchen, full bathroom, and two bedrooms. The upper and lower units share a comparable layout, while the property also includes a finished basement, private driveway, garage, and yard.
Constructed in 1965, the home is located at 6669 73rd Place in Middle Village, NY 11379. Schools, shopping, public transportation, parks, and major highways are identified as nearby. With both units vacant, the property can accommodate an owner-occupant, tenant placement, or renovation planning, subject to the buyer’s intended use.
Constructed in 1965, the home is located at 6669 73rd Place in Middle Village, NY 11379. Schools, shopping, public transportation, parks, and major highways are identified as nearby. With both units vacant, the property can accommodate an owner-occupant, tenant placement, or renovation planning, subject to the buyer’s intended use.
Key Highlights
- Two‑family duplex with both residences delivered vacant
- Each unit includes two bedrooms, living room, dining room, kitchen, and full bathroom
- Finished basement provides additional interior 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
$74,189
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
6.46%
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%
$1,483,780
$1.5M
Cap Rate 7%
$1,059,843
$1.1M
Cap Rate 9%
$824,322
$824.3K
Market Conditions
NOI Build-Up for 3,035 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
$140.2K $46.20/SF
− Vacancy
−$5.3K −$1.76/SF
EGI
$134.9K $44.44/SF
− OpEx
−$60.7K −$20.00/SF
NOI
$74.2K $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%
$1,483,780
Cap Rate 7%
$1,059,843
Cap Rate 9%
$824,322
Alternative Uses
Best Use
Apartment 5plus
$1.06M
$927.4K – $1.24M
NOI $74,189 @ 7.0% cap · market cap 6.46%
Second Best
Multifamily LT 5
$717.6K
$627.9K – $837.2K
NOI $50,234 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$2.24M
$1.96M – $2.61M
NOI $156,621 @ 7.0% cap · market cap 13.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,504
Businesses Nearby
Explore this area
Business Placement
Demographics for 11379, NY
37,906
Population
15,237
Households
2.5
Avg Household Size
44
Median Age
35%
College-Educated
84%
High-School Grad
2.2 sq mi
ZIP Area
17,230
Density / Sq Mi
$92,509
Median Household Income
$54,109
Median Earnings
$1,989
Median Rent
$886,600
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?
Duplex - Both residences offer two bedrooms, living and dining areas, a kitchen, and a full bathroom.
Where is this duplex located?
The property is located at 6669 73rd Place Middle Village, NY.
What is the asking price?
The asking price for this property is $1,149,000.
What are key features of this property?
This property features: Two‑family duplex with both residences delivered vacant; Each unit includes two bedrooms, living room, dining room, kitchen, and full bathroom; Finished basement provides additional interior space
