Three-Story Income
For Sale
$1,750,000
86-66 Midland Parkway, Queens, NY 11432
Well-maintained triplex with three separate units, hardwood floors, patios, and dedicated parking.
Property Size3,181 SF
Lot Size0.07 Acres
Price / SF$550.14
Days on Market145
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
Triplex
Taxes and HOA fees
Annual Taxes
$16,270
Amenities
No, No, Driveway
Natural Gas
Square Feet
Finished, Yes
1st Floor Bedrm, Eat in Kitchen, First Floor Full Bath, Public
First Floor Bedroom, First Floor Full Bath, Eat-in Kitchen
1st Fl Master Bedroom, Eat in Kitchen
No
Brick
Driveway
Building Details
Year Built
2004
Stories
3
Listing Agency:
Commerce Realty Group
Listed By:
Marc Richter
(718) 751-5799
Source:
Compass
Added: May 19
Changed: Oct 3
Last Checked: Oct 10 at 12:28AM
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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,758
Cap Rate
4.44%
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 4.44%
Second Best
Multifamily LT 5
$752.2K
$658.1K – $877.5K
NOI $52,651 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$2.35M
$2.05M – $2.74M
NOI $164,155 @ 7.0% cap · market cap 9.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,161
Businesses Nearby
Explore this area
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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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
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 Queens, 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
