Two-Family Duplex with Finished
New
For Sale
$1,099,000
68-07 Central Avenue, Glendale, NY 11385
Semi-detached configuration includes a finished basement and detached garage.
Property Size2,560 SF
Price / SF$425.97
Days on Market7
Property Features for 68-07 Central Avenue
General Information
Standard status
Active
Size
2,560 SF
Total Parking Spaces
2
Property subtype
Duplex
Additional Details
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,896
Building Details
Building Size
2,560 SF
Year Built
1925
Buildings
1
Listing Agency:
Coldwell Banker American Homes
(516) 365-5780
Listed By:
Rita K. Budhan
Source:
Serhant
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 9 at 7:41PM
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 Coldwell Banker American Homes
Investment Insights
Based on property information with market context.
Built in 1925, this semi-detached duplex contains 2,580 square feet across two residential units. The property offers four bedrooms and three full bathrooms, along with a skylight above the stairs. A finished basement provides high ceilings and separate entrance and exit points.
Exterior features include a wide shared driveway and a detached two-car garage. The current tenants have no leases, providing flexibility for an owner-occupant or investor. Public transportation, shopping, schools, and neighborhood amenities are located nearby.
Exterior features include a wide shared driveway and a detached two-car garage. The current tenants have no leases, providing flexibility for an owner-occupant or investor. Public transportation, shopping, schools, and neighborhood amenities are located nearby.
Key Highlights
- 2,580 square feet arranged across two units
- Four bedrooms and three full bathrooms
- Finished basement with high ceilings and separate entrance and exit points
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
$63,067
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
5.74%
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%
$1,261,340
$1.3M
Cap Rate 7%
$900,957
$901.0K
Cap Rate 9%
$700,744
$700.7K
Market Conditions
NOI Build-Up for 2,580 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
$119.2K $46.20/SF
− Vacancy
−$4.5K −$1.76/SF
EGI
$114.7K $44.44/SF
− OpEx
−$51.6K −$20.00/SF
NOI
$63.1K $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%
$1,261,340
Cap Rate 7%
$900,957
Cap Rate 9%
$700,744
Alternative Uses
Best Use
Apartment 5plus
$901.0K
$788.3K – $1.05M
NOI $63,067 @ 7.0% cap · market cap 5.74%
Second Best
Multifamily LT 5
$610.0K
$533.8K – $711.7K
NOI $42,703 @ 7.0% cap · market cap 3.89%
Theoretical Best
Office A
$1.90M
$1.66M – $2.22M
NOI $133,140 @ 7.0% cap · market cap 12.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,923
Businesses Nearby
Explore this area
Business Placement
Demographics for 11385, NY
100,883
Population
40,175
Households
2.5
Avg Household Size
36
Median Age
34%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
28,023
Density / Sq Mi
$87,365
Median Household Income
$47,335
Median Earnings
$1,959
Median Rent
$842,800
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?
Duplex - Semi-detached configuration includes a finished basement and detached garage.
Where is this duplex located?
The property is located at 68-07 Central Avenue Glendale, NY.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: 2,580 square feet arranged across two units; Four bedrooms and three full bathrooms; Finished basement with high ceilings and separate entrance and exit points
