Updated Residential
For Sale
$799,000
7612 35TH AVE Unit 76-12, Flushing, NY 11372
Renovated two-bedroom residence with an open kitchen, abundant storage, and access to elevator-building amenities.
Property Size1,100 SF
Price / SF$726.36
Days on Market196
Property Features for 7612 35TH AVE Unit 76-12
General Information
Standard status
Active
Size
1,100 SF
Elevators
Yes
Property subtype
Apartment
Units
Unit Mix
1 x 2BR/2BA
Multifamily Units
1
Additional Details
Public Transit
Yes
Amenities
live-in superintendent
laundry room
bicycle storage
basement storage
common garden
A/C - Other, Wall Air Conditioning
3
Hardwood
Dishwasher, Range, Refrigerator, Appliance Center
Elevator, Unfurnished, Foyer Entry
Foyer Entry
Storage Area.
200.000000x90.000000
Extra Storage.
Building Details
Year Built
1940
Year Renovated
2022
Stories
6
Listing Agency:
(212) 913-9058
Listed By:
Compass
(347) 946-0050
Source:
Xome
Added: Feb 16
Changed: Aug 30
Last Checked: Aug 30 at 3:01PM
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 Compass
Investment Insights
Based on property information with market context.
Residence 2D is a 1,100-square-foot, two-bedroom, two-bath cooperative in a six-story elevator building completed in 1940. The kitchen, hallway, and bathrooms were renovated in 2022, with updated cabinetry, plumbing, flooring, appliances, quartz counters, and contemporary fixtures. An open connection between the kitchen and living room supports daily use and entertaining, while custom Elfa systems and multiple closets provide organized storage. Both bedrooms receive afternoon sunlight, and the residence includes wall air conditioning, hardwood floors, a dishwasher, range, and refrigerator.
The Warwick is an 81-unit cooperative with a live-in superintendent, laundry room, bicycle storage, basement storage, and a shared garden. The property is located near neighborhood retail, cafés, restaurants, pubs, the weekend Greenmarket, Travers Park, and Paseo Park. Subway service on the 7, E, F, M, and R lines is approximately four blocks away, with Midtown Manhattan reachable in about 25 minutes.
The Warwick is an 81-unit cooperative with a live-in superintendent, laundry room, bicycle storage, basement storage, and a shared garden. The property is located near neighborhood retail, cafés, restaurants, pubs, the weekend Greenmarket, Travers Park, and Paseo Park. Subway service on the 7, E, F, M, and R lines is approximately four blocks away, with Midtown Manhattan reachable in about 25 minutes.
Key Highlights
- 1,100 SF two‑bedroom, two‑bath cooperative residence
- Kitchen, hallway, and both bathrooms renovated in 2022
- Six‑story elevator building completed in 1940
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
$26,889
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
3.37%
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%
$537,780
$537.8K
Cap Rate 7%
$384,129
$384.1K
Cap Rate 9%
$298,767
$298.8K
Market Conditions
NOI Build-Up for 1,100 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
$50.8K $46.20/SF
− Vacancy
−$1.9K −$1.76/SF
EGI
$48.9K $44.44/SF
− OpEx
−$22.0K −$20.00/SF
NOI
$26.9K $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%
$537,780
Cap Rate 7%
$384,129
Cap Rate 9%
$298,767
Alternative Uses
Best Use
Apartment 5plus
$384.1K
$336.1K – $448.2K
NOI $26,889 @ 7.0% cap · market cap 3.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$810.9K
$709.6K – $946.1K
NOI $56,765 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
7,725
Businesses Nearby
Explore this area
Business Placement
Demographics for 11372, NY
68,000
Population
26,613
Households
2.6
Avg Household Size
41
Median Age
35%
College-Educated
81%
High-School Grad
0.7 sq mi
ZIP Area
97,143
Density / Sq Mi
$77,133
Median Household Income
$44,415
Median Earnings
$1,795
Median Rent
$454,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Renovated two-bedroom residence with an open kitchen, abundant storage, and access to elevator-building amenities.
Where is this residential income property located?
The property is located at 7612 35TH AVE Unit 76-12 Flushing, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 1,100 SF two‑bedroom, two‑bath cooperative residence; Kitchen, hallway, and both bathrooms renovated in 2022; Six‑story elevator building completed in 1940
