Triplex with On-Site
New
For Sale
$1,725,000
86-66 Midland Parkway, Jamaica, NY 11432
Two of the three residences are vacant, and the remaining unit has a two-year lease.
Property Size3,181 SF
Lot Size0.07 Acres
Price / SF$542.28
Days on Market3
Property Features for 86-66 Midland Parkway
General Information
Standard status
Active
Size
3,181 SF
Total Parking Spaces
3
Lot size
0.07 Acres
Property subtype
Residential Income
Units
Unit Mix
1 x 2BR/1BA, 2 x 3BR/2BA
Multifamily Units
3
Individually Metered Utilities
electricity
Additional Details
Public Transit
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$16,270
Amenities
patio
First Floor Bedroom
First Floor Full Bath
Eat-in Kitchen
Building Details
Building Size
3,181 SF
Year Built
2004
Buildings
1
Units
3
Listing Agency:
Commerce Realty Group
Listed By:
Marc Richter
(718) 751-5799
Source:
Georgemcknight
Added: Oct 23
Changed: Oct 24
Last Checked: Oct 24 at 3:20PM
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 Commerce Realty Group
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Investment Insights
Based on property information with market context.
This 3,181-square-foot triplex was built in 2004 and is arranged across three residential floors. The first-floor apartment has two bedrooms, one full bathroom, hardwood floors, and an eat-in kitchen. Each of the upper-floor apartments offers three bedrooms, two full bathrooms, hardwood floors, and a spacious living room with a patio. Two units are vacant; the second-floor apartment is leased for two years.
The property includes three boilers, three hot water tanks, four electric meters, and three parking spaces. The lot measures 30 by 100 feet, and the building measures 20 by 56 feet. The F train is a three-minute walk away.
The property includes three boilers, three hot water tanks, four electric meters, and three parking spaces. The lot measures 30 by 100 feet, and the building measures 20 by 56 feet. The F train is a three-minute walk away.
Key Highlights
- Three residential units totaling 3,181 square feet; built in 2004
- Unit mix: one 2‑bedroom, 1‑bath apartment and two 3‑bedroom, 2‑bath apartments
- Two units are vacant; the second‑floor unit has a 2 year lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,758
Cap Rate
4.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,555,160
$1.6M
Cap Rate 7%
$1,110,829
$1.1M
Cap Rate 9%
$863,978
$864.0K
Market Conditions
NOI Build-Up for 3,181 SF
Gross rent
$147.0K $46.20/SF
− Vacancy
−$5.6K −$1.76/SF
EGI
$141.4K $44.44/SF
− OpEx
−$63.6K −$20.00/SF
NOI
$77.8K $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%
$1,555,160
Cap Rate 7%
$1,110,829
Cap Rate 9%
$863,978
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$972.0K – $1.30M
NOI $77,758 @ 7.0% cap · market cap 4.51%
Second Best
Multifamily LT 5
$752.2K
$658.1K – $877.5K
NOI $52,651 @ 7.0% cap · market cap 3.05%
Theoretical Best
Office A
$2.35M
$2.05M – $2.74M
NOI $164,155 @ 7.0% cap · market cap 9.52%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,044
Businesses Nearby
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Business Placement
Demographics for 11432, NY
65,743
Population
21,618
Households
3
Avg Household Size
39
Median Age
36%
College-Educated
80%
High-School Grad
2.0 sq mi
ZIP Area
32,872
Density / Sq Mi
$75,395
Median Household Income
$37,385
Median Earnings
$1,841
Median Rent
$826,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Two of the three residences are vacant, and the remaining unit has a two-year lease.
Where is this triplex located?
The property is located at 86-66 Midland Parkway Jamaica, NY.
What is the asking price?
The asking price for this property is $1,725,000.
What are key features of this property?
This property features: Three residential units totaling 3,181 square feet; built in 2004; Unit mix: one 2‑bedroom, 1‑bath apartment and two 3‑bedroom, 2‑bath apartments; Two units are vacant; the second‑floor unit has a 2 year lease
