Legal Three-Family
For Sale
$1,495,000
Pending
99-18 Corona Avenue, Corona, NY 11368
Residential Income, Corona, NY
Property Size4,480 SF
Lot Size0.04 Acres
Days on Market172
Property Features for 99-18 Corona Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
9
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 3, Bathroom 1, Bathroom 3, Bedroom 9, Bedroom 5, Bathroom 4, Bathroom 2, Bedroom 8, Bedroom 2, Bedroom 4, Basement, Bedroom 7, Bedroom 6
Parking
2
Parking features
Carport, Driveway
Interior features
First Floor Bedroom, First Floor Full Bath, Breakfast Bar, Chandelier, Eat-in Kitchen
Fencing
Chain Link
Basement
Finished, Walk-Out Access, Full
Elementary school
Ps 110
Middle school
Is 61 Leonardo Da Vinci
High school
John Bowne High School
Elementary school district
Queens 24
Middle school district
Queens24
High school district
Queens 25
Directions
Map
Standard status
Pending
APN
01926-0008
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
829
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Wall/Window Unit(s), Separate Meters, Ductless, Window Unit(s)
Water source
Public
Building Details
Year built
2004
Number of units
3
Flooring type
Hardwood
Building materials
Brick
Architectural style
Modern
Listing Agency:
Century Homes Realty Group LLC · EXIT Realty
(718) 886-6800
Listed By:
Roger Liu · License #10301219442
(646) 233-6608
Added: Mar 22
Changed: Sep 1
Last Checked: Sep 9 at 6:06PM
MLS# 975018
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.
Built in 2004, this legal three-family brick residence contains 4,480 square feet of livable space plus an OSE basement. The property includes nine bedrooms and four bathrooms. The first- and second-floor apartments share an open living room, dining area, kitchen, three-bedroom, one-bath layout. A third-floor and fourth-floor duplex adds a living area extending to the upper level, an eat-in kitchen, balcony, terrace, three bedrooms, and two bathrooms.
An OSE basement houses three sets of boilers and hot water tanks. Heating is natural gas, while cooling is provided through wall/window and ductless units with separate meters. Hardwood flooring, public water and sewer, a private driveway, carport, and chain-link fencing are also included. The property may be delivered vacant and is offered as-is. The address is 99-18 Corona Avenue, Corona, NY 11368, in Queens County.
An OSE basement houses three sets of boilers and hot water tanks. Heating is natural gas, while cooling is provided through wall/window and ductless units with separate meters. Hardwood flooring, public water and sewer, a private driveway, carport, and chain-link fencing are also included. The property may be delivered vacant and is offered as-is. The address is 99-18 Corona Avenue, Corona, NY 11368, in Queens County.
Key Highlights
- Legal 3‑family property with 9 bedrooms and 4 bathrooms
- 4,480 square feet of livable space plus OSE basement
- Built in 2004 with brick construction and modern architectural style
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
$109,511
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
7.33%
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%
$2,190,220
$2.2M
Cap Rate 7%
$1,564,443
$1.6M
Cap Rate 9%
$1,216,789
$1.2M
Market Conditions
NOI Build-Up for 4,480 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
$207.0K $46.20/SF
− Vacancy
−$7.9K −$1.76/SF
EGI
$199.1K $44.44/SF
− OpEx
−$89.6K −$20.00/SF
NOI
$109.5K $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%
$2,190,220
Cap Rate 7%
$1,564,443
Cap Rate 9%
$1,216,789
Alternative Uses
Best Use
Apartment 5plus
$1.56M
$1.37M – $1.83M
NOI $109,511 @ 7.0% cap · market cap 7.33%
Second Best
Multifamily LT 5
$1.06M
$926.9K – $1.24M
NOI $74,151 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$3.30M
$2.89M – $3.85M
NOI $231,190 @ 7.0% cap · market cap 15.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,498
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
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 - Modern brick multifamily property with a private driveway, hardwood flooring, and separate heating and cooling systems.
Where is this triplex located?
The property is located at 99-18 Corona Avenue Corona, NY.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Legal 3‑family property with 9 bedrooms and 4 bathrooms; 4,480 square feet of livable space plus OSE basement; Built in 2004 with brick construction and modern architectural style
