Seven-Unit Multifamily
For Sale
$2,199,999
102-18 Radcliff Avenue, Corona, NY 11368
Seven-unit building with six one-bedroom and one two-bedroom units near subway access.
Property Size4,645 SF
Days on Market252
Property Features for 102-18 Radcliff Avenue
General Information
Standard status
Active
Size
4,645 SF
Property subtype
Commercial
Additional Details
Cap Rate
5.5%
Highway Access
Yes
Multifamily Units
7
Taxes and HOA fees
Annual Taxes
$1,980
Building Details
Building Size
4,645 SF
Year Built
2007
Buildings
1
Stories
4
Units
7
Tenancy
Multi
Listing Agency:
Douglas Elliman Real Estate
(718) 908-4999
Listed By:
Lily Widjaja · License #10401272235
(718) 908-4999
Source:
Cohenandcohenrealty
Added: Dec 2, 2025
Changed: Aug 8
Last Checked: Aug 10 at 11:26AM
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 seven-unit multifamily building at 102-18 Radcliff Avenue, Corona, NY 11368, includes six one-bedroom units and one two-bedroom unit. The basement features a utility room, additional rooms, a bath, and access to the backyard. The two-bedroom unit is described as having two full baths along with living/dining space and a kitchen, while the remaining units are described as one-bedroom layouts with one full bath and living room/kitchen areas.
The property is described as being in the heart of Queens, with walkable subway access (approximately 10 minutes) and proximity to shopping, a laundromat, and highways.
The building is offered for sale as a whole, with the note that investors may be able to sell each unit separately as a condominium; buyers are instructed to verify with their attorney. The remarks also indicate no rent-stabilized units and cite an approximate 5.5% cap rate. Please contact your attorney to confirm details related to condominium conversion.
The property is described as being in the heart of Queens, with walkable subway access (approximately 10 minutes) and proximity to shopping, a laundromat, and highways.
The building is offered for sale as a whole, with the note that investors may be able to sell each unit separately as a condominium; buyers are instructed to verify with their attorney. The remarks also indicate no rent-stabilized units and cite an approximate 5.5% cap rate. Please contact your attorney to confirm details related to condominium conversion.
Key Highlights
- 7‑unit building built in 2007 in Queens
- Unit mix: six 1‑bedroom units plus one 2‑bedroom unit (each with full bath)
- Basement includes utility room, additional rooms and bath, with access to the backyard
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
Multi-tenant
Tenancy
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Seven-unit building with six one-bedroom and one two-bedroom units near subway access.
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 built in 2007 in Queens; Unit mix: six 1‑bedroom units plus one 2‑bedroom unit (each with full bath); Basement includes utility room, additional rooms and bath, with access to the backyard
