Three-Story Income
86-66 Midland Parkway Jamaica, NY 11432
86-66 Midland Parkway, Jamaica, NY, 11432
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For Sale
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Well-maintained triplex with three separate units, hardwood floors, patios, and dedicated parking.
Property Size3,360 SF
Lot Size0.07 Acres
Price / SF$520.83
Days on Market52
Property Features for 86-66 Midland Parkway
General Information
- Standard status
- Active
- Size
- 3,360 SF
- Lot size
- 0.07 Acres
- Property subtype
- Multifamily
Listing agency
Commerce Realty Group
Listed by
Marc Richter · License #New York
Source
Crexi
Added: Jun 1 Updated: Jul 10 at 1:50PM Checked: Jul 21 at 6:16AM
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
Investment Insights
Based on property information with market context.
This three-story triplex contains three separate residences. The first floor is vacant and features two bedrooms and one full bathroom with hardwood floors and an eat-in kitchen. The second floor is leased on a two-year term and offers three bedrooms and two full bathrooms, along with hardwood floors, a spacious living room, and a patio. The third floor is vacant and includes three bedrooms and two full bathrooms, hardwood floors, and a spacious living room with a patio.
The building is configured with multiple building systems and utilities, including three boilers, three hot water tanks, three parking spaces, and four electric meters. The lot size is noted as 30’ x 100’ and the building size as 20’ x 56’. The property is described as a three-minute walk to the F train.
For buyers seeking a residential income property with separate units and self-contained utilities, this triplex provides a straightforward live-in or investor setup. With the first and third floors currently vacant and the second floor already under lease, the building offers immediate flexibility for tenancy and management planning based on the unit mix and condition described.
The building is configured with multiple building systems and utilities, including three boilers, three hot water tanks, three parking spaces, and four electric meters. The lot size is noted as 30’ x 100’ and the building size as 20’ x 56’. The property is described as a three-minute walk to the F train.
For buyers seeking a residential income property with separate units and self-contained utilities, this triplex provides a straightforward live-in or investor setup. With the first and third floors currently vacant and the second floor already under lease, the building offers immediate flexibility for tenancy and management planning based on the unit mix and condition described.
Key Highlights
- Triplex with three separate units: 1st floor (2BD/1BA), 2nd floor (3BD/2BA), and 3rd floor (3BD/2BA)
- All units feature hardwood floors and include spacious living areas with patio access on the 2nd and 3rd floors
- 2nd‑floor unit is on a 2‑year lease; 1st and 3rd‑floor units are vacant
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $155.2k | $46.20 |
| − Vacancy | −$5.9k | −$1.76 |
| EGI | $149.3k | $44.44 |
| − OpEx | −$67.2k | −$20.00 |
| NOI | $82.1k | $24.44 |
3,360 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.17M
$1.03M – $1.37M
NOI $82,133 @ 7.0% cap · market cap 4.69%
Second Best
Multifamily LT 5
$794.5K
$695.2K – $926.9K
NOI $55,613 @ 7.0% cap · market cap 3.18%
Theoretical Best
Office A
$2.48M
$2.17M – $2.89M
NOI $173,392 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
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FAQs
What type of property is this?
Triplex - Well-maintained triplex with three separate units, hardwood floors, patios, and dedicated parking.
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 $1,750,000.
What are key features of this property?
This property features: Triplex with three separate units: 1st floor (2BD/1BA), 2nd floor (3BD/2BA), and 3rd floor (3BD/2BA); All units feature hardwood floors and include spacious living areas with patio access on the 2nd and 3rd floors; 2nd‑floor unit is on a 2‑year lease; 1st and 3rd‑floor units are vacant
