7-Unit Apartment
For Sale
$2,199,999
102-18 Radcliff Avenue, Corona, NY 11368
Mixed one- and two-bedroom layouts feature full baths, kitchens, and dedicated living areas.
Property Size4,645 SF
Days on Market270
Property Features for 102-18 Radcliff Avenue
General Information
Standard status
Active
Size
4,645 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
6 x 1BR, 1 x 2BR
Multifamily Units
7
Additional Details
Cap Rate
5.5%
Taxes and HOA fees
Annual Taxes
$1,980
Building Details
Building Size
4,645 SF
Year Built
2007
Buildings
1
Stories
4
Units
7
Listing Agency:
Douglas Elliman Real Estate
(718) 908-4999
Listed By:
Lily Widjaja · License #10401272235
(718) 908-4999
Source:
Professionalchoicerealty
Added: Dec 2, 2025
Changed: Aug 28
Last Checked: Aug 29 at 10:21AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This 7-unit apartment building, constructed in 2007, contains six one-bedroom apartments and one two-bedroom apartment. The two-bedroom unit includes two full baths, a living room, dining room, and kitchen. Each one-bedroom unit has one full bath, a living room, and a kitchen. Basement improvements include a utility room, additional rooms, a bath, and access to the backyard.
The property is located at 102-18 Radcliff Avenue in Corona, Queens, with a 10-minute walk to the subway station. Shopping, a laundromat, and highways are nearby. None of the units are rent stabilized. The building is offered as a whole, and the source information identifies a possible future condominium-by-unit sale subject to attorney review.
The property is located at 102-18 Radcliff Avenue in Corona, Queens, with a 10-minute walk to the subway station. Shopping, a laundromat, and highways are nearby. None of the units are rent stabilized. The building is offered as a whole, and the source information identifies a possible future condominium-by-unit sale subject to attorney review.
Key Highlights
- 7‑unit building with six one‑bedroom units and one two‑bedroom unit
- Two‑bedroom apartment includes 2 full baths, living room, dining room, and kitchen
- Basement has utility room, rooms, bath, and backyard access
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
$113,544
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
5.16%
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%
$2,270,880
$2.3M
Cap Rate 7%
$1,622,057
$1.6M
Cap Rate 9%
$1,261,600
$1.3M
Market Conditions
NOI Build-Up for 4,645 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
$214.6K $46.20/SF
− Vacancy
−$8.2K −$1.76/SF
EGI
$206.4K $44.44/SF
− OpEx
−$92.9K −$20.00/SF
NOI
$113.5K $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%
$2,270,880
Cap Rate 7%
$1,622,057
Cap Rate 9%
$1,261,600
Alternative Uses
Best Use
Apartment 5plus
$1.62M
$1.42M – $1.89M
NOI $113,544 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.42M
$3.00M – $4.00M
NOI $239,704 @ 7.0% cap · market cap 10.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,991
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Mixed one- and two-bedroom layouts feature full baths, kitchens, and dedicated living areas.
Where is this apartment building located?
The property is located at 102-18 Radcliff Avenue Corona, NY.
What is the asking price?
The asking price for this property is $2,199,999.
What are key features of this property?
This property features: 7‑unit building with six one‑bedroom units and one two‑bedroom unit; Two‑bedroom apartment includes 2 full baths, living room, dining room, and kitchen; Basement has utility room, rooms, bath, and backyard access
