Building Details

Building Size 1,068 SF

Year Built 1965

Listing Agency: CENTURY 21 AMIABLE REALTY GROUP II INC

Listed By: Maria Trinceri · License #10301202333 Show Phone

Source: Elliman

Added: Nov 28, 2025 Changed: Sep 24 Last Checked: Oct 7 at 12:50PM

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Investment Insights

Based on property information with market context.

This multifamily property is located in Queens, New York. The property is suitable for residential income purposes and can be classified as an apartment building. The listed price is $460,000.

Key Highlights

• Year Built: 1965

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$26,107

Cap Rate

5.74%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$522,140 $522.1K

Cap Rate 7%

$372,957 $373.0K

Cap Rate 9%

$290,078 $290.1K

Market Conditions

NOI Build-Up for 1,068 SF

Gross rent

$49.3K $46.20/SF

− Vacancy

−$1.9K −$1.76/SF

EGI

$47.5K $44.44/SF

− OpEx

−$21.4K −$20.00/SF

NOI

$26.1K $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%

$522,140

Cap Rate 7%

$372,957

Cap Rate 9%

$290,078

Alternative Uses

Best Use

Apartment 5plus

$373.0K

$326.3K – $435.1K (±1% cap)

NOI $26,107 @ 7.0% cap · market cap 5.74%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$787.3K

$688.9K – $918.6K (±1% cap)

NOI $55,114 @ 7.0% cap · market cap 12.11%

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 Furniture & Home Goods Grocery & Convenience Store Auto Parts Store

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

957

Businesses Nearby

Explore this area Business Placement

Demographics for 11414, NY

27,320

Population

12,223

Households

2.2

Avg Household Size

46

Median Age

31%

College-Educated

87%

High-School Grad

2.3 sq mi

ZIP Area

11,878

Density / Sq Mi

$98,209

Median Household Income

$66,162

Median Earnings

$1,991

Median Rent

$612,800

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 - Multifamily property in Queens available for purchase.

Where is this apartment building located?

The property is located at 81-24 156th Ave 240-CU Queens, NY.

What is the asking price?

The asking price for this property is $455,000.

What are key features of this property?

This property features: Year Built: 1965