Brick 3-Unit
For Sale
$1,200,000
6915 Little Neck Parkway, Glen Oaks, NY 11004
Residential Income, Glen Oaks, NY
Property Size3,076 SF
Lot Size0.10 Acres
Price / SF$390.12
Days on Market49
Property Features for 6915 Little Neck Parkway
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 5, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 5, Bathroom 4, Bathroom 2, Basement, Bathroom 3, Bedroom 1, Bedroom 3
Parking
2
Interior features
First Floor Bedroom, First Floor Full Bath
Basement
Walk-Out Access, Finished, Full
Elementary school
Ps 186 Castlewood
Middle school
Irwin Altman Middle School 172
High school
Martin Van Buren High School
Elementary school district
Queens 26
Middle school district
Queens 26
High school district
Queens 26
Standard status
Active
APN
08443-0439
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
13465
Utilities
Heating system
Natural Gas
Cooling system
Ductless
Building Details
Year built
1975
Number of units
3
Building materials
Block, Brick
Listing Agency:
R New York
(212) 688-1000
Listed By:
I Hsin Teng
(929) 204-6681
Added: Jul 6
Changed: Aug 20
Last Checked: Aug 23 at 4:06AM
MLS# 1023213
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 6915 Little Neck Parkway in Glen Oaks, this tenant-occupied brick triplex was built in 1975 and contains 3,076 SF on a 6,756 SF lot. The ground level includes a 1-bedroom apartment and attached garage, while the first floor offers another 1-bedroom apartment with its own entrance. The second-floor residence has 3 bedrooms, 2 baths, and an in-unit washer and dryer. A finished basement with a full bath and separate entrance adds additional utility. The property also includes a two-car driveway, two gas meters, and three electric meters.
The address is within School District 26 and near shopping, restaurants, parks, schools, major highways, and public transportation. The Q36 bus stops at the corner and provides service to the Little Neck LIRR, approximately 10 minutes away. The property is available for drive-by review; interior access may be arranged for qualified buyers after a serious offer, subject to seller approval.
The address is within School District 26 and near shopping, restaurants, parks, schools, major highways, and public transportation. The Q36 bus stops at the corner and provides service to the Little Neck LIRR, approximately 10 minutes away. The property is available for drive-by review; interior access may be arranged for qualified buyers after a serious offer, subject to seller approval.
Key Highlights
- 3,076 SF building on a 6,756 SF lot
- Three‑unit configuration with two 1‑bedroom apartments and one 3‑bedroom, 2‑bath apartment
- Finished basement with full bath and separate entrance
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
$75,191
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
6.27%
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%
$1,503,820
$1.5M
Cap Rate 7%
$1,074,157
$1.1M
Cap Rate 9%
$835,456
$835.5K
Market Conditions
NOI Build-Up for 3,076 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
$142.1K $46.20/SF
− Vacancy
−$5.4K −$1.76/SF
EGI
$136.7K $44.44/SF
− OpEx
−$61.5K −$20.00/SF
NOI
$75.2K $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%
$1,503,820
Cap Rate 7%
$1,074,157
Cap Rate 9%
$835,456
Alternative Uses
Best Use
Apartment 5plus
$1.07M
$939.9K – $1.25M
NOI $75,191 @ 7.0% cap · market cap 6.27%
Second Best
Multifamily LT 5
$727.3K
$636.4K – $848.6K
NOI $50,913 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$2.27M
$1.98M – $2.65M
NOI $158,736 @ 7.0% cap · market cap 13.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
868
Businesses Nearby
Explore this area
Business Placement
Demographics for 11004, NY
13,608
Population
5,394
Households
2.5
Avg Household Size
48
Median Age
44%
College-Educated
85%
High-School Grad
1.0 sq mi
ZIP Area
13,608
Density / Sq Mi
$109,865
Median Household Income
$59,505
Median Earnings
$1,967
Median Rent
$661,900
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 - Tenant-occupied brick triplex with separate entrances, finished basement, attached garage, and access to public transportation.
Where is this triplex located?
The property is located at 6915 Little Neck Parkway Glen Oaks, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 3,076 SF building on a 6,756 SF lot; Three‑unit configuration with two 1‑bedroom apartments and one 3‑bedroom, 2‑bath apartment; Finished basement with full bath and separate entrance
