Duplex with Separate Living
For Sale
$1,390,000
6933 Little Neck Parkway, Glen Oaks, NY 11004
Residential Income, Glen Oaks, NY
Property Size2,605 SF
Lot Size0.06 Acres
Price / SF$533.59
Days on Market143
Property Features for 6933 Little Neck Parkway
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 3, Bathroom 1, Bedroom 5, Dining Room, Bathroom 2, Bedroom 2, Bedroom 3, Bedroom 1, Bedroom 4, Basement
Parking features
Driveway, Garage
Window features
Skylight(s), Double Pane Windows
Patio and Porch features
Patio
Interior features
First Floor Bedroom, First Floor Full Bath, Eat-in Kitchen, Entrance Foyer, Formal Dining, Granite Counters, High Ceilings, Kitchen Island, Open Kitchen, Pantry, Primary Bathroom, Recessed Lighting, Storage, Washer/Dryer Hookup
Basement
Finished, Storage Space, Full
Lot features
Back Yard, Near Public Transit, Near School, Near Shops, Part Wooded, Paved
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
Directions
Grand Central Pkwy to Little Neck Parkway, see maps.google.com
Standard status
Active
APN
08443-0447
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
12927
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating), Natural Gas
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1980
Number of units
2
Flooring type
Hardwood, Tile - Ceramic
Building materials
Brick, Frame
Additional Structures
Storage
Listing Agency:
Keller Williams Realty Greater
(516) 873-7100
Listed By:
David Lau CBR · License #10301224218
(347) 683-7563
Added: Apr 23
Changed: Sep 11
Last Checked: Sep 12 at 8:06AM
MLS# 988304
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.
This 2,605-square-foot brick and frame residential property combines a three-bedroom primary residence with two additional one-bedroom living areas. The main residence includes two full baths, an entry foyer, home-office space, dining room, kitchen, basement access, and storage. Each secondary living area has its own private entrance, while three electric meters support separation between the spaces.
The property sits on 0.0631 acres and includes a private driveway with parking for 2–3 cars, an attached garage, and a patio. Built in 1980, the home has hardwood and ceramic tile flooring, natural-gas baseboard and hot-water heating, window or wall/window cooling units, public water, and public sewer. Union Turnpike shopping and dining, transportation, and the Grand Central Parkway are located nearby.
The property sits on 0.0631 acres and includes a private driveway with parking for 2–3 cars, an attached garage, and a patio. Built in 1980, the home has hardwood and ceramic tile flooring, natural-gas baseboard and hot-water heating, window or wall/window cooling units, public water, and public sewer. Union Turnpike shopping and dining, transportation, and the Grand Central Parkway are located nearby.
Key Highlights
- 2,605 sq. ft. property with a three‑bedroom primary residence and two additional 1‑bedroom living spaces
- Three separate entrances and 3 electric meters
- Private driveway with parking for 2‑3 cars plus attached garage
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
$63,678
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
4.58%
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%
$1,273,560
$1.3M
Cap Rate 7%
$909,686
$909.7K
Cap Rate 9%
$707,533
$707.5K
Market Conditions
NOI Build-Up for 2,605 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
$120.4K $46.20/SF
− Vacancy
−$4.6K −$1.76/SF
EGI
$115.8K $44.44/SF
− OpEx
−$52.1K −$20.00/SF
NOI
$63.7K $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%
$1,273,560
Cap Rate 7%
$909,686
Cap Rate 9%
$707,533
Alternative Uses
Best Use
Apartment 5plus
$909.7K
$796.0K – $1.06M
NOI $63,678 @ 7.0% cap · market cap 4.58%
Second Best
Multifamily LT 5
$616.0K
$539.0K – $718.6K
NOI $43,117 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$1.92M
$1.68M – $2.24M
NOI $134,431 @ 7.0% cap · market cap 9.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
998
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Three private entrances and multiple living areas support owner occupancy, extended-family use, or rental income.
Where is this duplex located?
The property is located at 6933 Little Neck Parkway Glen Oaks, NY.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: 2,605 sq. ft. property with a three‑bedroom primary residence and two additional 1‑bedroom living spaces; Three separate entrances and 3 electric meters; Private driveway with parking for 2‑3 cars plus attached garage
