Astoria Triplex with Upscale
For Sale
Contact for pricing
30-78 43rd St, Queens, NY 11103
Gut-renovated triplex featuring modern amenities and spacious layouts.
Property Size3,339 SF
Price / SF$864.03
Days on Market893
Property Features for 30-78 43rd St
General Information
Standard status
Active
Size
3,339 SF
Property subtype
Multifamily
Zoning
R5
Building Details
Year Built
1910
Year Renovated
2018
Buildings
1
Stories
3
Units
3
Listing Agency:
Evergreen Realty and Investments
Listed By:
Daniel Barcelowsky · License #NY
(646) 373-7944
Source:
Crexi
Added: Apr 3, 2024
Changed: Aug 31
Last Checked: Sep 12 at 6:18AM
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 Evergreen Realty and Investments
Investment Insights
Based on property information with market context.
This custom-built, gut-renovated residence features three units. The first two units each offer 2 beds and 2 baths, along with outdoor spaces. The top floor unit includes three bedrooms and 2 bathrooms. Throughout the building, there are high ceilings and light-colored oak flooring. The living rooms are spacious, featuring large windows and exposed brick walls. Each unit is equipped with central AC, CityQuiet windows with solar shades, in-unit Maytag washer/dryers, LED lighting, and a video intercom. The gourmet open kitchens feature Caesarstone quartz islands, Brito fixtures, sleek white cabinetry, and THOR stainless steel appliances, including dishwashers and wine coolers. The bathrooms are finished with Italian marble and porcelain, Toto toilets, and tempered glass showers/tubs. The building measures 19.17 feet by 40 feet, totaling 3,339 square feet, and sits on a 19 feet by 101 feet lot with 1,919 square feet. The actual cap rate is 5.73%. The property is located near subway stations and various amenities in Astoria.
Key Highlights
- Three units: Two units with 2 beds/2 baths and outdoor space, plus a 3 bed/2 bath unit.
- Gut renovated with upscale finishes throughout.
- Gourmet open kitchens feature Caesarstone quartz islands, Brito fixtures, sleek white cabinetry, and THOR stainless steel appliances.
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
$81,620
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
2.83%
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%
$1,632,400
$1.6M
Cap Rate 7%
$1,166,000
$1.2M
Cap Rate 9%
$906,889
$906.9K
Market Conditions
NOI Build-Up for 3,339 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
$154.3K $46.20/SF
− Vacancy
−$5.9K −$1.76/SF
EGI
$148.4K $44.44/SF
− OpEx
−$66.8K −$20.00/SF
NOI
$81.6K $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%
$1,632,400
Cap Rate 7%
$1,166,000
Cap Rate 9%
$906,889
Alternative Uses
Best Use
Apartment 5plus
$1.17M
$1.02M – $1.36M
NOI $81,620 @ 7.0% cap · market cap 2.83%
Second Best
Multifamily LT 5
$789.5K
$690.8K – $921.1K
NOI $55,266 @ 7.0% cap · market cap 1.92%
Theoretical Best
Office A
$2.46M
$2.15M – $2.87M
NOI $172,308 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,076
Businesses Nearby
Explore this area
Business Placement
Demographics for 11103, NY
37,362
Population
18,833
Households
2
Avg Household Size
36
Median Age
52%
College-Educated
89%
High-School Grad
0.7 sq mi
ZIP Area
53,374
Density / Sq Mi
$92,787
Median Household Income
$59,050
Median Earnings
$2,120
Median Rent
$1,003,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Gut-renovated triplex featuring modern amenities and spacious layouts.
Where is this triplex located?
The property is located at 30-78 43rd St Queens, NY.
What is the asking price?
The asking price for this property is $2,885,000.
What are key features of this property?
This property features: Three units: Two units with 2 beds/2 baths and outdoor space, plus a 3 bed/2 bath unit.; Gut renovated with upscale finishes throughout.; Gourmet open kitchens feature Caesarstone quartz islands, Brito fixtures, sleek white cabinetry, and THOR stainless steel appliances.
