Victorian Triplex with
New
For Sale
$1,700,000
8592 148 Street, Briarwood, NY 11435
Three-level triplex with a finished basement, backyard, and two-car garage.
Property Size2,375 SF
Price / SF$715.79
Days on Market3
Property Features for 8592 148 Street
General Information
Standard status
Active
Size
2,375 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$8,924
Building Details
Building Size
2,375 SF
Year Built
1920
Listing Agency:
LAFFEY REAL ESTATE
(888) 289-6902
Listed By:
Shaheen Abdin · License #40AB0998795
Source:
Cbwarburg
Added: Aug 18
Changed: Aug 20
Last Checked: Aug 20 at 8:38AM
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 LAFFEY REAL ESTATE
Investment Insights
Based on property information with market context.
Built in 1920, this Victorian triplex presents a multi-level residential configuration with hardwood flooring and generous closet space. The first floor includes a living room, dining room with a wood-burning fireplace, office, kitchen, full bath, one bedroom, and an enclosed porch. The second floor adds four bedrooms and a full bath, while the third floor contains a kitchen, full bath, and two bedrooms.
Additional improvements include a full finished basement with an exterior entrance, a backyard, and a two-car garage. The property occupies a 40x100 lot at 8592 148 Street in Briarwood, NY 11435. Open violations are on file and should be independently verified before contract.
Additional improvements include a full finished basement with an exterior entrance, a backyard, and a two-car garage. The property occupies a 40x100 lot at 8592 148 Street in Briarwood, NY 11435. Open violations are on file and should be independently verified before contract.
Key Highlights
- Triplex on a 40x100 lot at 8592 148 Street, Briarwood, NY 11435
- First and second floors configured with 5 bedrooms
- Third floor includes a kitchen, full bath, and 2 bedrooms
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
$58,055
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
3.42%
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%
$1,161,100
$1.2M
Cap Rate 7%
$829,357
$829.4K
Cap Rate 9%
$645,056
$645.1K
Market Conditions
NOI Build-Up for 2,375 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
$109.7K $46.20/SF
− Vacancy
−$4.2K −$1.76/SF
EGI
$105.6K $44.44/SF
− OpEx
−$47.5K −$20.00/SF
NOI
$58.1K $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%
$1,161,100
Cap Rate 7%
$829,357
Cap Rate 9%
$645,056
Alternative Uses
Best Use
Apartment 5plus
$829.4K
$725.7K – $967.6K
NOI $58,055 @ 7.0% cap · market cap 3.42%
Second Best
Multifamily LT 5
$561.6K
$491.4K – $655.2K
NOI $39,310 @ 7.0% cap · market cap 2.31%
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,561 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,478
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-level triplex with a finished basement, backyard, and two-car garage.
Where is this triplex located?
The property is located at 8592 148 Street Briarwood, NY.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Triplex on a 40x100 lot at 8592 148 Street, Briarwood, NY 11435; First and second floors configured with 5 bedrooms; Third floor includes a kitchen, full bath, and 2 bedrooms
