Building Details

Building Size 675 SF

Year Built 1952

Listing Agency: Compass

Listed By: WILLIAM D KOKORIS Show Phone

Source: Bondnyre

Added: Oct 14 Changed: Oct 16 Last Checked: Oct 16 at 12:22PM

Report an Issue

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 Compass

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 675-square-foot, fifth-floor co-op has a north-facing exposure and a one-bedroom layout. The entry foyer includes a coat closet and leads to a dining area and living room with hardwood floors, recessed lighting, and a built-in electric fireplace. The bedroom accommodates a queen-size bed and has a double-wide closet; additional storage is provided in the hall.

The windowed kitchen has shaker cabinetry, white countertops, a subway-tile backsplash, and stainless-steel appliances, including a gas range, dishwasher, and side-by-side refrigerator. A second counter run and floating shelves provide additional kitchen workspace. The windowed bathroom has a tub with a rain showerhead and handheld sprayer.

Building features include laundry, a Butterfly video intercom, and a landscaped courtyard with mature trees and benches. Cats are permitted; dogs are not. Subletting is prohibited, and the purchase requires a minimum 25% down payment. The building dates to 1952.

Key Highlights

• 675‑square‑foot, one‑bedroom co‑op on the fifth floor
• Renovated kitchen with stainless‑steel appliances and two windows
• North‑facing living space with hardwood floors and a built‑in electric fireplace

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,500

Cap Rate

5.91%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$330,000 $330.0K

Cap Rate 7%

$235,714 $235.7K

Cap Rate 9%

$183,333 $183.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 675 SF

Gross rent

$31.2K $46.20/SF

− Vacancy

−$1.2K −$1.76/SF

EGI

$30.0K $44.44/SF

− OpEx

−$13.5K −$20.00/SF

NOI

$16.5K $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%

$330,000

Cap Rate 7%

$235,714

Cap Rate 9%

$183,333

Alternative Uses

Best Use

Apartment 5plus

$235.7K

$206.3K – $275.0K (±1% cap)

NOI $16,500 @ 7.0% cap · market cap 5.91%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$497.6K

$435.4K – $580.6K (±1% cap)

NOI $34,833 @ 7.0% cap · market cap 12.48%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Dr. Mazhar Alhadid, ... Dental Office

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Building Supply Auto Parts Store Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Residential units

Location Intelligence

Trade Area within ½ mile

6,666

Businesses Nearby

Explore this area Business Placement

Demographics for 11369, NY

40,805

Population

13,893

Households

2.9

Avg Household Size

37

Median Age

24%

College-Educated

79%

High-School Grad

1.1 sq mi

ZIP Area

37,095

Density / Sq Mi

$80,577

Median Household Income

$40,089

Median Earnings

$1,983

Median Rent

$734,900

Median Home Value

Similar For Sale Nearby

See more

Flushing Co-op with Modern Amenities

4334 Union St 5H, Queens, NY 11355

$280,000

View details

Renovated One-Bedroom Co-op

90-11 35 Ave 1D, Queens, NY 11372

$259,999

View details

Queens Village Three-Bedroom Apartment

228-08 Stronghurst Ave Lower, Queens, NY 11427

$339,000

View details

Renovated Astoria Apartment with Garden View

21-28 35th Street 2-G, Queens, NY 11105

$309,000

View details

Spacious Apartment with Utilities Included

32-40 89 St 110, Queens, NY 11369

$249,999

View details

Queens Apartment For Sale

138-29 68th Dr 1C, Queens, NY 11367

$318,000

View details

Residential Income Property with Rooftop Deck

50-15 39TH Street 3E, Queens, NY 11104

$335,000

750 SF

View details

One-Bedroom Cooperative Apartment For Sale

32-20 92 St D507, Queens, NY 11369

$185,000

View details

Spacious One Bedroom Apartment

7502 Austin St 1L, Queens, NY 11375

$349,000

View details

Renovated Apartment in Prime Location

229-15 87th Ave 454, Queens, NY 11427

$250,000

View details

Updated Apartment in Parkwood Estates

252-15 72nd Ave 166A, Queens, NY 11426

$299,000

View details

Residential Income Property with Renovated Bath

39-25 51st Street 1F, Queens, NY 11377

$389,000

625 SF

View details

Frequently Asked Questions

What type of property is this?

Residential income property - The renovated kitchen includes stainless-steel appliances, two windows, and a separate counter area for prep or coffee.

Where is this residential income property located?

The property is located at 88-09 Northern Boulevard 506 Queens, NY.

What is the asking price?

The asking price for this property is $279,000.

What are key features of this property?

This property features: 675‑square‑foot, one‑bedroom co‑op on the fifth floor; Renovated kitchen with stainless‑steel appliances and two windows; North‑facing living space with hardwood floors and a built‑in electric fireplace