Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    40-42 Junction Blvd Corona, NY 11368

    Sponsored
    For Sale
    Pending
    $1,980,000

    Mixed Use - Corona, NY

    Type:Mixed Use
    Property size:
    2,368 SF
    Lot size:
    0.06 Acres
    Days on Market:
    124
    Last Refresh:
    Feb 19 at 5:06 pm

    Property Features for 40-42 Junction Blvd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Mixed Use
    Standard status
    Pending
    Rooms
    Basement
    APN
    01596-0029
    Basement Y/N
    1
    Size
    2,368 SF
    Lot size
    0.06 Acres

    Utilities

    Heating system
    Hot Water (Heating), Natural Gas
    Cooling system
    Multi Units, Wall/Window Unit(s), Window Unit(s)

    Building Details

    Year built
    1931
    Building materials
    Aluminum Siding, Frame
    Architectural style
    Other

    We can help!

    Listing Contact
    Fei Guo

    CHASE GLOBAL REALTY CORP (347) 226-0870

    Listing agent Fei Guo (718) 500-2231 License #10311210012

    Listing date Oct 19, 2025

    MLS# 898388 Listing URL

    Copyright © 2025 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.

    Learn more

    Property Insight Report

    Overview

    Mixed-Use Building in Corona, NY

    Located in Corona, Queens, this detached mixed-use building presents an investment opportunity. The property is zoned R6B and situated on Junction Boulevard, benefiting from high visibility and foot traffic. The ground floor features a commercial space currently operating as a Dominican eatery with a loyal customer base. A finished basement provides storage or prep space for the restaurant. The rear of the ground floor includes a 2-bedroom, 1-bath apartment with a kitchen and combined living and dining area, suitable for rental or owner-occupancy. The second floor contains a spacious 2-bedroom, 2-bathroom unit with a full kitchen, living room, and family room. The property is located near the Junction Blvd 7-train station, providing access to Manhattan and Queens. Multiple bus lines, including Q72, serve the area, and major highways like the LIE and Grand Central Parkway are easily accessible. The building is within walking distance of schools in NYC's District 24, shopping centers such as Rego Park Mall, restaurants, and Flushing Meadows-Corona Park. The lot size is 0.0578 acres, and the property size is 2368 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Corona
    County
    Queens
    State
    New York
    Longitude
    -73.874573
    Latitude
    40.757566

    Nearby Similar for Sale

    • $2,690,000
      0.06 Acres

      Seven-Unit Building in Corona, NY

      Seven-unit building with one and two-bedroom apartments in Queens.
      102-18 Radcliff Ave, Corona, NY 11368
      View Details
    • $2,290,000
      0.06 Acres

      New Construction Three-Family in Corona

      New three-family home with quality finishes and convenient location.
      10605 49Th Ave, Corona, NY 11368
      View Details
    • $1,048,888
      Pending

      Corner Lot Duplex in Corona

      Semi-attached duplex in Corona near Flushing Meadows Park.
      55-12 Van Cleef St, Corona, NY 11368
      View Details
    • $1,680,000

      Corona Two-Family Near Subway

      Two-family property in Corona, near transportation and amenities.
      94-44 45Th Ave, Corona, NY 11373
      View Details
    • New
      $1,900,000
      4,000 SF

      Income-Producing Quadruplex in Corona, NY

      Legal 4-family in prime Queens rental corridor near transit.
      10876 38Th Ave, Corona, NY 11368
      View Details
    • New
      $2,986,000
      4,930 SF

      New Corona Multifamily Investment

      New six-family building in high-demand Corona rental area.
      104-22 Corona Ave, Corona, NY 11368
      View Details
    • $11,495,000
      42,102 SF

      Corona Multifamily Near Transportation

      Multifamily property in Corona, near transportation and amenities.
      37-20/22 99Th St, Corona, NY 11368
      View Details
    • $2,090,000
      0.04 Acres

      New Construction Three-Family Home

      New construction three-family home with quality finishes in Corona.
      10603 49Th Ave, Corona, NY 11368
      View Details
    • $1,600,000
      0.05 Acres

      Corona Multifamily Investment Opportunity

      Legal four-family property near Roosevelt Avenue and 7-Line express subway.
      97-28 41St Ave, Corona, NY 11368
      View Details
    • $1,298,000
      Pending

      Renovated Two-Family Home with Garage

      Two-family home in Corona, renovated in 2025, with development potential.
      109-50 Corona Ave, Corona, NY 11368
      View Details
    • $1,088,000
      Pending

      Renovated Duplex in Corona, NY

      Renovated two-family home with modern amenities and strong rental potential.
      10337 52Nd Ave, Corona, NY 11368
      View Details
    • New
      $1,259,000
      0.04 Acres

      Renovated Two-Family Home in Corona

      Charming, renovated 2-family brick home in the heart of Corona.
      33-34 109Th St, Corona, NY 11368
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use building with commercial and residential units in Corona, Queens.
    Where is this mixed-use property located?
    The property is located at 40-42 Junction Blvd Corona, NY.
    What is the asking price?
    The asking price for this property is $1,980,000.
    What are key features of this property?
    This property features: - Prime Location: High-traffic Junction Boulevard location in Corona with excellent visibility and foot traffic, steps from the 7-train.; - Mixed-Use Zoning (R6B): Offers both commercial and residential income potential.; - Ground Floor Commercial Space: Currently operating as a restaurant with a loyal customer base and exclusive access to a finished basement.
    (516) 587-9113
    Request Owner's contact information
    40-42 Junction Blvd Corona, NY 11368
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    40-42 Junction Blvd
    Corona, NY 11368
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    40-42 Junction Blvd Corona, NY 11368
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Fei Guo
    (516) 587-9113 (718) 500-2231
    Learn more
    Google sign-in failed. Please try again or use another login method.