Residential Quadplex with
For Sale
$1,500,000
97-33 90th Street, Ozone Park, NY 11416
Established multifamily property with a private driveway and outdoor space in Ozone Park.
Property Size3,265 SF
Days on Market111
Property Features for 97-33 90th Street
General Information
Standard status
Active
Size
3,265 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Unit Mix
1 x 1BR/1BA, 1 x 3BR/2BA, 2 x 1BR/1BA
Taxes and HOA fees
Annual Taxes
$9,177
Amenities
private driveway
backyard
Building Details
Building Size
3,265 SF
Year Built
1960
Stories
3
Units
3
Listing Agency:
RE/MAX 2000
(718) 848-1966
Listed By:
Vishal Maraj · License #10311206874
(718) 848-1966
Source:
Millenniumhomes
Added: May 13
Changed: Aug 29
Last Checked: Aug 30 at 5:36PM
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 RE/MAX 2000
Investment Insights
Based on property information with market context.
This residential quadplex at 97-33 90th Street includes a private driveway and backyard. Built in 1960, the property offers a multifamily configuration within a residential setting in Ozone Park, NY 11416.
The property is near schools, shops, public transportation, JFK Airport, major highways, and houses of worship. Its location provides access to a broad range of everyday services and regional transportation connections.
The property is near schools, shops, public transportation, JFK Airport, major highways, and houses of worship. Its location provides access to a broad range of everyday services and regional transportation connections.
Key Highlights
- Quadplex in a residential Ozone Park setting
- Built in 1960
- Private driveway
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
$79,811
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
5.32%
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%
$1,596,220
$1.6M
Cap Rate 7%
$1,140,157
$1.1M
Cap Rate 9%
$886,789
$886.8K
Market Conditions
NOI Build-Up for 3,265 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
$150.8K $46.20/SF
− Vacancy
−$5.7K −$1.76/SF
EGI
$145.1K $44.44/SF
− OpEx
−$65.3K −$20.00/SF
NOI
$79.8K $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 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%
$1,596,220
Cap Rate 7%
$1,140,157
Cap Rate 9%
$886,789
Alternative Uses
Best Use
Apartment 5plus
$1.14M
$997.6K – $1.33M
NOI $79,811 @ 7.0% cap · market cap 5.32%
Second Best
Multifamily LT 5
$772.0K
$675.5K – $900.7K
NOI $54,041 @ 7.0% cap · market cap 3.60%
Theoretical Best
Office A
$2.41M
$2.11M – $2.81M
NOI $168,490 @ 7.0% cap · market cap 11.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,769
Businesses Nearby
Explore this area
Business Placement
Demographics for 11416, NY
28,381
Population
8,047
Households
3.5
Avg Household Size
35
Median Age
25%
College-Educated
78%
High-School Grad
0.7 sq mi
ZIP Area
40,544
Density / Sq Mi
$85,544
Median Household Income
$43,899
Median Earnings
$1,964
Median Rent
$733,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Established multifamily property with a private driveway and outdoor space in Ozone Park.
Where is this quadplex located?
The property is located at 97-33 90th Street Ozone Park, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Quadplex in a residential Ozone Park setting; Built in 1960; Private driveway
