7-Unit Mixed-Use
For Sale
$3,800,000
10114 39th Avenue, Corona, NY 11368
A ground-level medical office shares the property with seven one-bedroom apartments and a leased rooftop.
Property Size6,495 SF
Price / SF$585.07
Days on Market223
Property Features for 10114 39th Avenue
General Information
Standard status
Active
Size
6,495 SF
Property subtype
Commercial
Zoning
R6B
Net Operating Income
$244,134
Financials
Cap Rate
6.42%
Gross Income
$270,704
Units
Unit Mix
7 x 1BR
Multifamily Units
7
Office Units
1
Additional Details
Floor
Ground Floor
Public Transit
Yes
Tenant in Place
Yes
Property Use
Medical Office
Taxes and HOA fees
Annual Taxes
$11,457
Building Details
Building Size
6,495 SF
Year Built
2012
Buildings
1
Stories
4
Units
8
Tenancy
Multi
Listing Agency:
Lin Pan Realty Group LLC
(516) 693-9888
Listed By:
Qian Huang
(646) 785-1699
Source:
Croninreale
Added: Mar 16
Changed: Oct 23
Last Checked: Oct 23 at 9:55AM
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 Lin Pan Realty Group LLC
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Investment Insights
Based on property information with market context.
The 6,495-square-foot property combines a medical office with seven one-bedroom apartments. The office and one apartment occupy the first floor; the apartment has a large backyard. Two apartments are located on each of the second, third, and fourth floors. The building was constructed in 2012 and is zoned R6B.
A telecommunications company leases the rooftop. The property is in Corona, between Corona and Flushing, near public transportation, neighborhood retail, and dining. Major transportation routes and access to Manhattan are also noted.
A telecommunications company leases the rooftop. The property is in Corona, between Corona and Flushing, near public transportation, neighborhood retail, and dining. Major transportation routes and access to Manhattan are also noted.
Key Highlights
- 6,495‑square‑foot mixed‑use property with a medical office and seven one‑bedroom apartments
- Seven residential units: one on the first floor and two on each of floors two through four
- First‑floor apartment includes a large backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$213,840
Cap Rate
5.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,276,800
$4.3M
Cap Rate 7%
$3,054,857
$3.1M
Cap Rate 9%
$2,376,000
$2.4M
Market Conditions
NOI Build-Up for 6,495 SF
Gross rent
$327.3K $50.40/SF
− Vacancy
−$42.2K −$6.50/SF
EGI
$285.1K $43.90/SF
− OpEx
−$71.3K −$10.97/SF
NOI
$213.8K $32.92/SF
Area
Queens County, NY
Vacancy
12.90%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,276,800
Cap Rate 7%
$3,054,857
Cap Rate 9%
$2,376,000
Alternative Uses
Best Use
Office B
$3.05M
$2.67M – $3.56M
NOI $213,840 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$2.27M
$1.98M – $2.65M
NOI $158,767 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$4.79M
$4.19M – $5.59M
NOI $335,173 @ 7.0% cap · market cap 8.82%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Office units
7
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,870
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
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A ground-level medical office shares the property with seven one-bedroom apartments and a leased rooftop.
Where is this mixed-use property located?
The property is located at 10114 39th Avenue Corona, NY.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: 6,495‑square‑foot mixed‑use property with a medical office and seven one‑bedroom apartments; Seven residential units: one on the first floor and two on each of floors two through four; First‑floor apartment includes a large backyard
