Building Details

Building Size 661 SF

Year Built 1951

Listing Agency: VORO LLC

Listed By: Abraham Ortiz PSA SFR Show Phone

Source: Elliman

Added: Nov 28, 2025 Changed: Sep 22 Last Checked: Oct 5 at 5:50PM

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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 VORO LLC

Investment Insights

Based on property information with market context.

This apartment building is located in Queens, New York. The property is listed for sale.

Key Highlights

• Year Built: 1951
• Price: $11

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,158

Cap Rate

7.34%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$323,160 $323.2K

Cap Rate 7%

$230,829 $230.8K

Cap Rate 9%

$179,533 $179.5K

Market Conditions

NOI Build-Up for 661 SF

Gross rent

$30.5K $46.20/SF

− Vacancy

−$1.2K −$1.76/SF

EGI

$29.4K $44.44/SF

− OpEx

−$13.2K −$20.00/SF

NOI

$16.2K $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%

$323,160

Cap Rate 7%

$230,829

Cap Rate 9%

$179,533

Alternative Uses

Best Use

Apartment 5plus

$230.8K

$202.0K – $269.3K (±1% cap)

NOI $16,158 @ 7.0% cap · market cap 7.34%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$487.3K

$426.4K – $568.5K (±1% cap)

NOI $34,111 @ 7.0% cap · market cap 15.50%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Gym & Fitness Center Veterinary Clinic Nursing Home Tattoo & Piercing Shop (Bike/Boat/Book/etc) Store Pet Grooming Service

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

4,748

Businesses Nearby

Explore this area Business Placement

Demographics for 11435, NY

58,980

Population

21,180

Households

2.8

Avg Household Size

38

Median Age

32%

College-Educated

80%

High-School Grad

1.5 sq mi

ZIP Area

39,320

Density / Sq Mi

$79,430

Median Household Income

$43,354

Median Earnings

$1,820

Median Rent

$550,300

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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Frequently Asked Questions

What type of property is this?

Apartment building - Apartment building located in Queens, New York.

Where is this apartment building located?

The property is located at 84-35 Lander St #2B Queens, NY.

What is the asking price?

The asking price for this property is $220,000.

What are key features of this property?

This property features: Year Built: 1951; Price: $11