Building Details

Building Size 637 SF

Year Built 1950

Listing Agency: Keller Williams Realty of Greater Nassau

Listed By: David Lau · License #10301224218 Show Phone

Source: Kw

Added: May 8, 2025 Changed: Oct 26 Last Checked: Oct 28 at 1:07PM

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Investment Insights

Based on property information with market context.

This pet-friendly garden condo is located in the heart of Queens. The unit features a brand new kitchen with quartz countertops and stainless steel appliances, as well as 2 new air conditioners. Onsite amenities include parking, an on-site maintenance crew and management staff, and garden courtyards. The monthly common charges of $529 cover heat, hot water, landscaping, and trash and snow removal. Local and express buses are located two blocks away. The property is near Flushing Meadows Park, home of the US Open Tennis tournament and the historic World's Fair, and is also located minutes from the Long Island Expressway, Van Wyck Expressway, Grand Central Parkway, and Jackie Robinson Parkway. The unit has an option to purchase a 2-car garage for an additional $45,000. The property size is 637 square feet.

Key Highlights

• Pet‑friendly condo in Queens.
• Includes on‑site parking.
• Brand new kitchen with quartz countertops and stainless steel appliances.**

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,571

Cap Rate

3.66%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$311,420 $311.4K

Cap Rate 7%

$222,443 $222.4K

Cap Rate 9%

$173,011 $173.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 637 SF

Gross rent

$29.4K $46.20/SF

− Vacancy

−$1.1K −$1.76/SF

EGI

$28.3K $44.44/SF

− OpEx

−$12.7K −$20.00/SF

NOI

$15.6K $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 Rate 5%

$311,420

Cap Rate 7%

$222,443

Cap Rate 9%

$173,011

Alternative Uses

Best Use

Apartment 5plus

$222.4K

$194.6K – $259.5K (±1% cap)

NOI $15,571 @ 7.0% cap · market cap 3.66%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$469.6K

$410.9K – $547.9K (±1% cap)

NOI $32,872 @ 7.0% cap · market cap 7.73%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Location Intelligence

Trade Area within ½ mile

1,805

Businesses Nearby

Explore this area Business Placement

Demographics for 11367, NY

43,112

Population

15,693

Households

2.7

Avg Household Size

37

Median Age

46%

College-Educated

84%

High-School Grad

1.9 sq mi

ZIP Area

22,691

Density / Sq Mi

$75,804

Median Household Income

$45,052

Median Earnings

$1,774

Median Rent

$519,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Queens condo with new kitchen, parking, and pet-friendly amenities.

Where is this apartment building located?

The property is located at 70-07 E Park Drive #A Kew Garden Flushing, NY.

What is the asking price?

The asking price for this property is $425,000.

What are key features of this property?

This property features: Pet‑friendly condo in Queens.; Includes on‑site parking.; Brand new kitchen with quartz countertops and stainless steel appliances.**