Mixed-Use Apartment Building with
For Sale
$3,880,000
10211 37th Avenue, Corona, NY 11368
MULTI_FAMILY - Corona, NY
Property Size5,104 SF
Lot Size0.06 Acres
Price / SF$760.19
Days on Market97
Property Features for 10211 37th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R6B
Rooms
Basement
Basement
Finished, Full
Appliances
Gas Range, Refrigerator
Middle school
Call Listing Agent
High school
Contact Agent
Elementary school district
Queens 24
Middle school district
Contact Agent
High school district
Contact Agent
Directions
Google Map
Standard status
Active
APN
01743-0031
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
56202
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
2019
Floors in Building
4
Number of units
6
Flooring type
Tile
Building materials
Brick
Listing Agency:
Landmark International R E LLC
(718) 898-8300
Listed By:
Hui Lin
(718) 898-8300
Added: May 12
Changed: Aug 2
Last Checked: Aug 16 at 11:06AM
MLS# 999025
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use apartment building was built in 2019 and features a brick, 4-story configuration with 1 ground-floor commercial storefront and 6 residential units. The property is described as well maintained and designed for low maintenance, with residential units featuring modern kitchens and contemporary finishes. Public records support the building includes tile flooring, baseboard heating, and window/wall (window unit) air conditioning, along with gas ranges and refrigerators.
The property is located at 10211 37th Avenue in Corona, NY 11368 on a 25x100 lot, with an approximately 5,104 SF building size. Water service is public and sewer is public sewer. The zoning is listed as R6B/C1-4.
The combination of residential unit count plus ground-floor commercial space can support diversified occupancy within a single, newer-construction asset.
The property is located at 10211 37th Avenue in Corona, NY 11368 on a 25x100 lot, with an approximately 5,104 SF building size. Water service is public and sewer is public sewer. The zoning is listed as R6B/C1-4.
The combination of residential unit count plus ground-floor commercial space can support diversified occupancy within a single, newer-construction asset.
Key Highlights
- Built in 2019 brick, mixed‑use apartment building with 1 commercial storefront and 6 residential units
- Approx. 5,104 SF building size on a 25x100 lot
- Zoned R6B/C1‑4
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
$124,764
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
3.22%
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%
$2,495,280
$2.5M
Cap Rate 7%
$1,782,343
$1.8M
Cap Rate 9%
$1,386,267
$1.4M
Market Conditions
NOI Build-Up for 5,104 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
$235.8K $46.20/SF
− Vacancy
−$9.0K −$1.76/SF
EGI
$226.8K $44.44/SF
− OpEx
−$102.1K −$20.00/SF
NOI
$124.8K $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%
$2,495,280
Cap Rate 7%
$1,782,343
Cap Rate 9%
$1,386,267
Alternative Uses
Best Use
Apartment 5plus
$1.78M
$1.56M – $2.08M
NOI $124,764 @ 7.0% cap · market cap 3.22%
Second Best
Retail
$1.30M
$1.14M – $1.52M
NOI $91,106 @ 7.0% cap · market cap 2.35%
Theoretical Best
Office A
$3.76M
$3.29M – $4.39M
NOI $263,391 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,528
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 - Mixed-use building with 6 residential units and 1 commercial storefront, built in 2019, zoned R6B.
Where is this apartment building located?
The property is located at 10211 37th Avenue Corona, NY.
What is the asking price?
The asking price for this property is $3,880,000.
What are key features of this property?
This property features: Built in 2019 brick, mixed‑use apartment building with 1 commercial storefront and 6 residential units; Approx. 5,104 SF building size on a 25x100 lot; Zoned R6B/C1‑4
