Building Details

Building Size 725 SF

Year Built 1952

Listed By: Keri Ann Cronin MRP PSA Show Phone

Source: Elliman

Added: Dec 3, 2025 Changed: Oct 5 Last Checked: Oct 7 at 1:53PM

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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 Keri Ann Cronin MRP PSA

Investment Insights

Based on property information with market context.

A residential apartment located in Queens is available for purchase. The list price is $359,000.

Key Highlights

• Year Built: 1952
• Price: $11

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,722

Cap Rate

4.94%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$354,440 $354.4K

Cap Rate 7%

$253,171 $253.2K

Cap Rate 9%

$196,911 $196.9K

Market Conditions

NOI Build-Up for 725 SF

Gross rent

$33.5K $46.20/SF

− Vacancy

−$1.3K −$1.76/SF

EGI

$32.2K $44.44/SF

− OpEx

−$14.5K −$20.00/SF

NOI

$17.7K $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 Rate 5%

$354,440

Cap Rate 7%

$253,171

Cap Rate 9%

$196,911

Alternative Uses

Best Use

Apartment 5plus

$253.2K

$221.5K – $295.4K (±1% cap)

NOI $17,722 @ 7.0% cap · market cap 4.94%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$534.5K

$467.7K – $623.6K (±1% cap)

NOI $37,413 @ 7.0% cap · market cap 10.42%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage Hair Salon Spa & Massage Center Accounting Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

740

Businesses Nearby

Explore this area Business Placement

Demographics for 11364, NY

37,032

Population

14,527

Households

2.5

Avg Household Size

45

Median Age

49%

College-Educated

86%

High-School Grad

2.5 sq mi

ZIP Area

14,813

Density / Sq Mi

$101,222

Median Household Income

$55,295

Median Earnings

$2,330

Median Rent

$770,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Apartment building - Apartment in Queens available for purchase.

Where is this apartment building located?

The property is located at 73-21 220th St 139B2 Queens, NY.

What is the asking price?

The asking price for this property is $359,000.

What are key features of this property?

This property features: Year Built: 1952; Price: $11