7-Unit Apartment
For Sale
$2,000,000
100-11 40th Road, Corona, NY 11368
Well-maintained residential property with R6B zoning and four years of tax abatement remaining.
Property Size5,185 SF
Days on Market160
Property Features for 100-11 40th Road
General Information
Standard status
Active
Size
5,185 SF
Total Parking Spaces
2
Property subtype
Commercial
Zoning
R6B
Units
Unit Mix
1Fl + Cell (4.5 rooms), 2A (3.5 rooms), 2B (3.5 rooms), 3A (3.5 rooms), 3B (3.5 rooms), 4A (3.5 rooms), 4B (3.5 rooms)
Multifamily Units
7
Additional Details
Gross Income
$183,120
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,095
Building Details
Building Size
5,185 SF
Year Built
2015
Stories
4
Units
7
Listing Agency:
Winzone Realty Inc
(646) 823-8878
Listed By:
Rebecca Fang · License #40FA1050916
(646) 823-8878
Source:
Cohenandcohenrealty
Added: Mar 25
Changed: Aug 28
Last Checked: Aug 29 at 10:19AM
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 Winzone Realty Inc
Investment Insights
Based on property information with market context.
Built in 2015, this apartment property contains seven residential units arranged across four floors, with a ground-floor unit and cellar component. The unit mix includes one 4.5-room residence and six 3.5-room residences. The building is described as solidly constructed and well maintained, with an efficient overall layout.
The property is located at 100-11 40th Road in Corona, near Flushing Meadows Park and Citi Field. Shopping, restaurants, schools, and major transportation options are also identified in the surrounding area. R6B zoning applies, and four years of tax abatement remain.
The property is located at 100-11 40th Road in Corona, near Flushing Meadows Park and Citi Field. Shopping, restaurants, schools, and major transportation options are also identified in the surrounding area. R6B zoning applies, and four years of tax abatement remain.
Key Highlights
- Seven‑unit apartment property with one 4.5‑room unit and six 3.5‑room units
- 2015 construction with a well‑maintained condition described in the property information
- R6B zoning
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
$126,744
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
6.34%
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%
$2,534,880
$2.5M
Cap Rate 7%
$1,810,629
$1.8M
Cap Rate 9%
$1,408,267
$1.4M
Market Conditions
NOI Build-Up for 5,185 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
$239.5K $46.20/SF
− Vacancy
−$9.1K −$1.76/SF
EGI
$230.4K $44.44/SF
− OpEx
−$103.7K −$20.00/SF
NOI
$126.7K $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%
$2,534,880
Cap Rate 7%
$1,810,629
Cap Rate 9%
$1,408,267
Alternative Uses
Best Use
Apartment 5plus
$1.81M
$1.58M – $2.11M
NOI $126,744 @ 7.0% cap · market cap 6.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.82M
$3.34M – $4.46M
NOI $267,571 @ 7.0% cap · market cap 13.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
6,554
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 - Well-maintained residential property with R6B zoning and four years of tax abatement remaining.
Where is this apartment building located?
The property is located at 100-11 40th Road Corona, NY.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Seven‑unit apartment property with one 4.5‑room unit and six 3.5‑room units; 2015 construction with a well‑maintained condition described in the property information; R6B zoning
