Legal Three-Family
For Sale
$1,425,000
8418 108th Street, Richmond Hill, NY 11418
Three-level income property with private parking, garage, garden, and flexible residential layouts.
Property Size3,196 SF
Days on Market28
Property Features for 8418 108th Street
General Information
Standard status
Active
Size
3,196 SF
Property subtype
Triplex
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,349
Amenities
wrap around front porch
hardwood floors
high ceilings
front and back interior staircases
back garden
Building Details
Building Size
3,196 SF
Year Built
1910
Buildings
1
Stories
3
Listing Agency:
Parkside Realty of Queens Inc
(718) 846-3008
Listed By:
Regina L. Santoro Schaefer
Source:
Serhant
Added: Jul 20
Changed: Aug 10
Last Checked: Aug 15 at 12:38PM
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 Parkside Realty of Queens Inc
Investment Insights
Based on property information with market context.
This legal three-family property, built in 1910, offers three distinct residential levels with varied bedroom configurations. The first floor includes two bedrooms, a living room, formal dining room, eat-in kitchen, full bath, and access to the full basement. The second floor provides two to three bedrooms, living and dining rooms, an eat-in kitchen, and a full bath. The third floor contains two bedrooms, a living room, eat-in kitchen, and full bath.
Exterior features include a private driveway, 1.5-car garage, rear garden, and wraparound front porch. Interior details include hardwood flooring, high ceilings, and front and rear stair access. The property is located near Forest Park at 8418 108th Street in Richmond Hill, NY 11418.
Exterior features include a private driveway, 1.5-car garage, rear garden, and wraparound front porch. Interior details include hardwood flooring, high ceilings, and front and rear stair access. The property is located near Forest Park at 8418 108th Street in Richmond Hill, NY 11418.
Key Highlights
- Legal 3‑family property built in 1910
- First‑floor unit includes 2 bedrooms and access to a full basement
- Second‑floor layout offers 2/3 bedrooms, living and dining rooms, and an eat‑in kitchen
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
$78,124
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
5.48%
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%
$1,562,480
$1.6M
Cap Rate 7%
$1,116,057
$1.1M
Cap Rate 9%
$868,044
$868.0K
Market Conditions
NOI Build-Up for 3,196 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
$147.7K $46.20/SF
− Vacancy
−$5.6K −$1.76/SF
EGI
$142.0K $44.44/SF
− OpEx
−$63.9K −$20.00/SF
NOI
$78.1K $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 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%
$1,562,480
Cap Rate 7%
$1,116,057
Cap Rate 9%
$868,044
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$976.6K – $1.30M
NOI $78,124 @ 7.0% cap · market cap 5.48%
Second Best
Multifamily LT 5
$755.7K
$661.2K – $881.7K
NOI $52,899 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$2.36M
$2.06M – $2.75M
NOI $164,929 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,751
Businesses Nearby
Explore this area
Business Placement
Demographics for 11418, NY
37,596
Population
12,072
Households
3.1
Avg Household Size
37
Median Age
32%
College-Educated
81%
High-School Grad
1.7 sq mi
ZIP Area
22,115
Density / Sq Mi
$84,927
Median Household Income
$44,818
Median Earnings
$1,788
Median Rent
$772,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-level income property with private parking, garage, garden, and flexible residential layouts.
Where is this triplex located?
The property is located at 8418 108th Street Richmond Hill, NY.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: Legal 3‑family property built in 1910; First‑floor unit includes 2 bedrooms and access to a full basement; Second‑floor layout offers 2/3 bedrooms, living and dining rooms, and an eat‑in kitchen
