Brick Triplex With
For Sale
$1,799,000
8543 Britton Avenue, Elmhurst, NY 11373
Three residential levels include private balconies, while the ground floor offers flexible community-facility space.
Property Size4,160 SF
Days on Market97
Property Features for 8543 Britton Avenue
General Information
Standard status
Active
Size
4,160 SF
Property subtype
Triplex
Additional Details
Public Transit
Yes
Office Units
1
Taxes and HOA fees
Annual Taxes
$5,881
Building Details
Building Size
4,160 SF
Year Built
2004
Buildings
1
Stories
4
Construction
brick
Tenancy
Multi
Listing Agency:
EXP Realty
(516) 336-9417
Listed By:
Xingye Fu
Source:
Serhant
Added: May 7
Changed: Aug 11
Last Checked: Aug 11 at 3:14AM
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 EXP Realty
Investment Insights
Based on property information with market context.
Built in 2004, this brick triplex includes three residential floors above a street-level store or office component. Each apartment level contains a three-bedroom, two-bath unit with a living room and private balcony. The ground floor is configured as a three-bedroom, two-bath community facility space and has been identified for uses such as medical office or daycare operations.
A finished basement adds usable space and connects to a separate entrance from the first floor. Building systems include 3 boilers, 5 electric meters, and 3 gas meters. The property is near the 7 train at 90 St/Elmhurst Ave, as well as E, F, M, and R train service and Queens Center Mall. Shops, dining, and other amenities are located nearby.
A finished basement adds usable space and connects to a separate entrance from the first floor. Building systems include 3 boilers, 5 electric meters, and 3 gas meters. The property is near the 7 train at 90 St/Elmhurst Ave, as well as E, F, M, and R train service and Queens Center Mall. Shops, dining, and other amenities are located nearby.
Key Highlights
- Three 3‑bedroom, 2‑bath apartments on the second through fourth floors
- Street‑level 3‑bedroom, 2‑bath community facility with store or office configuration
- Private balconies serve each residential level
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
$136,963
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
7.61%
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%
$2,739,260
$2.7M
Cap Rate 7%
$1,956,614
$2.0M
Cap Rate 9%
$1,521,811
$1.5M
Market Conditions
NOI Build-Up for 4,160 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
$209.7K $50.40/SF
− Vacancy
−$27.0K −$6.50/SF
EGI
$182.6K $43.90/SF
− OpEx
−$45.7K −$10.97/SF
NOI
$137.0K $32.92/SF
Area
Queens County, NY
Vacancy
12.90%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
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%
$2,739,260
Cap Rate 7%
$1,956,614
Cap Rate 9%
$1,521,811
Alternative Uses
Best Use
Office B
$1.96M
$1.71M – $2.28M
NOI $136,963 @ 7.0% cap · market cap 7.61%
Second Best
Apartment 5plus
$1.45M
$1.27M – $1.69M
NOI $101,689 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$3.07M
$2.68M – $3.58M
NOI $214,676 @ 7.0% cap · market cap 11.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7,740
Businesses Nearby
Explore this area
Business Placement
Demographics for 11373, NY
105,712
Population
34,797
Households
3
Avg Household Size
38
Median Age
30%
College-Educated
75%
High-School Grad
1.5 sq mi
ZIP Area
70,475
Density / Sq Mi
$71,470
Median Household Income
$36,043
Median Earnings
$1,913
Median Rent
$683,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential levels include private balconies, while the ground floor offers flexible community-facility space.
Where is this triplex located?
The property is located at 8543 Britton Avenue Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: Three 3‑bedroom, 2‑bath apartments on the second through fourth floors; Street‑level 3‑bedroom, 2‑bath community facility with store or office configuration; Private balconies serve each residential level
