Studio Co-op in
For Sale
$145,000
99-10 60th Ave 2L, Queens, NY 11368
Second-floor studio co-op with separate kitchen and abundant light.
Property Size504 SF
Days on Market269
Property Features for 99-10 60th Ave 2L
General Information
Standard status
Active
Size
504 SF
Property subtype
Residential
Building Details
Building Size
504 SF
Year Built
1961
Listing Agency:
(347) 267-7059
Listed By:
Sherry McPhatter
(347) 267-7059
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 24
Last Checked: Aug 24 at 10:05AM
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 Sherry McPhatter
Investment Insights
Based on property information with market context.
Located in Sherwood Village in Corona, Queens, this second-floor studio co-op offers approximately 500 square feet of living space. The unit features a separate kitchen, generous closet space, and abundant natural light. The layout is such that it can easily function as a one-bedroom apartment. The building is situated on the borders of Corona, Rego Park, and Elmhurst, providing convenient access to Great Wall Supermarket, various shops, restaurants, and public transportation options including the Q38, Q88, QM10, QM11, and QM40 lines. Laundry facilities are available on-site. The building is fully owner-occupied, and subletting is not permitted. The unit faces 60th Avenue.
Key Highlights
- All‑inclusive maintenance fees cover electricity and property taxes, resulting in very low monthly expenses.
- Prime location bordering Corona, Rego Park, and Elmhurst, offering easy access to amenities.
- Steps away from Great Wall Supermarket, diverse shops, restaurants, and multiple public transportation options (Q38, Q88, QM10, QM11, QM40).
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
$12,320
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
8.50%
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%
$246,400
$246.4K
Cap Rate 7%
$176,000
$176.0K
Cap Rate 9%
$136,889
$136.9K
Market Conditions
NOI Build-Up for 504 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
$23.3K $46.20/SF
− Vacancy
−$885 −$1.76/SF
EGI
$22.4K $44.44/SF
− OpEx
−$10.1K −$20.00/SF
NOI
$12.3K $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%
$246,400
Cap Rate 7%
$176,000
Cap Rate 9%
$136,889
Alternative Uses
Best Use
Apartment 5plus
$176.0K
$154.0K – $205.3K
NOI $12,320 @ 7.0% cap · market cap 8.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$371.6K
$325.1K – $433.5K
NOI $26,009 @ 7.0% cap · market cap 17.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,548
Businesses Nearby
Explore this area
Business Placement
Demographics for 11368, NY
117,110
Population
31,165
Households
3.8
Avg Household Size
34
Median Age
14%
College-Educated
65%
High-School Grad
2.6 sq mi
ZIP Area
45,042
Density / Sq Mi
$71,798
Median Household Income
$33,742
Median Earnings
$1,925
Median Rent
$751,700
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?
Apartment building - Second-floor studio co-op with separate kitchen and abundant light.
Where is this apartment building located?
The property is located at 99-10 60th Ave 2L Queens, NY.
What is the asking price?
The asking price for this property is $145,000.
What are key features of this property?
This property features: All‑inclusive maintenance fees cover electricity and property taxes, resulting in very low monthly expenses.; Prime location bordering Corona, Rego Park, and Elmhurst, offering easy access to amenities.; Steps away from Great Wall Supermarket, diverse shops, restaurants, and multiple public transportation options (Q38, Q88, QM10, QM11, QM40).
