7-Unit Apartment
For Sale
$2,000,000
100-11 40th Road, Corona, NY 11368
Seven apartments are arranged in a multifamily building with R6B zoning and a remaining tax abatement.
Property Size5,185 SF
Price / SF$385.73
Days on Market214
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
1 x 4.5 rooms, 6 x 3.5 rooms
Multifamily Units
7
Additional Details
Gross Income
$183,120
Public Transit
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,095
Building Details
Building Size
5,185 SF
Year Built
2015
Buildings
1
Stories
4
Units
7
Tenancy
Multi
Listing Agency:
Winzone Realty Inc
(718) 899-7000
Listed By:
Rebecca Fang · License #40FA1050916
(646) 823-8878
Source:
Croninreale
Added: Mar 25
Changed: Oct 23
Last Checked: Oct 23 at 3:55PM
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
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Investment Insights
Based on property information with market context.
This 5,185-square-foot apartment building was constructed in 2015 and contains seven apartments. The first-floor and cellar unit has 4.5 rooms; each of the six upper-floor apartments has 3.5 rooms. The property is zoned R6B and has four years of tax abatement remaining.
The building is in Corona, near Flushing Meadows Park and Citi Field. Major transit options, shopping, restaurants, and schools are also accessible from the property.
The building is in Corona, near Flushing Meadows Park and Citi Field. Major transit options, shopping, restaurants, and schools are also accessible from the property.
Key Highlights
- Seven apartments; the first‑floor and cellar unit has 4.5 rooms, while the other six each have 3.5 rooms
- 5,185‑square‑foot building constructed in 2015
- R6B zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$126,744
Cap Rate
6.34%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
7
Residential units
Multi-tenant
Tenancy
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
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
Frequently Asked Questions
What type of property is this?
Apartment building - Seven apartments are arranged in a multifamily building with R6B zoning and a remaining tax abatement.
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 apartments; the first‑floor and cellar unit has 4.5 rooms, while the other six each have 3.5 rooms; 5,185‑square‑foot building constructed in 2015; R6B zoning
