Mixed-Use Building with
For Sale
$3,880,000
10211 37th Avenue, Corona, NY 11368
Constructed in 2019, the property combines contemporary residential interiors with a ground-floor commercial component.
Property Size5,104 SF
Days on Market111
Property Features for 10211 37th Avenue
General Information
Standard status
Active
Size
5,104 SF
Property subtype
Commercial
Zoning
R6B
Taxes and HOA fees
Annual Taxes
$56,202
Building Details
Building Size
5,104 SF
Year Built
2019
Stories
4
Units
6
Listing Agency:
Landmark International R E LLC
(718) 898-8300
Listed By:
Hui Lin
(718) 898-8300
Source:
Callexitfirst
Added: May 13
Changed: Aug 29
Last Checked: Aug 30 at 5:38PM
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 Landmark International R E LLC
Investment Insights
Based on property information with market context.
Completed in 2019, this four-story mixed-use property contains one commercial storefront and six residential units within an approximately 5,104-square-foot building. The residential apartments feature bright layouts, modern kitchens, updated bathrooms, and contemporary finishes. The building occupies a 25-by-100-foot lot and is described as well maintained with modern construction intended for straightforward upkeep.
The property is located at 10211 37th Avenue in Corona, New York. Shopping, restaurants, schools, public transportation, and major highways are identified in the surrounding area, providing access to a range of daily services and transportation options. The combination of commercial and residential space creates a vertically integrated configuration within a four-story structure.
The property is located at 10211 37th Avenue in Corona, New York. Shopping, restaurants, schools, public transportation, and major highways are identified in the surrounding area, providing access to a range of daily services and transportation options. The combination of commercial and residential space creates a vertically integrated configuration within a four-story structure.
Key Highlights
- 2019 construction with a four‑story mixed‑use configuration
- One commercial storefront plus 6 residential units
- Approximately 5,104 sq ft building on a 25x100 lot
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
$124,764
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
3.22%
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%
$2,495,280
$2.5M
Cap Rate 7%
$1,782,343
$1.8M
Cap Rate 9%
$1,386,267
$1.4M
Market Conditions
NOI Build-Up for 5,104 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
$235.8K $46.20/SF
− Vacancy
−$9.0K −$1.76/SF
EGI
$226.8K $44.44/SF
− OpEx
−$102.1K −$20.00/SF
NOI
$124.8K $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%
$2,495,280
Cap Rate 7%
$1,782,343
Cap Rate 9%
$1,386,267
Alternative Uses
Best Use
Apartment 5plus
$1.78M
$1.56M – $2.08M
NOI $124,764 @ 7.0% cap · market cap 3.22%
Second Best
Retail
$1.30M
$1.14M – $1.52M
NOI $91,106 @ 7.0% cap · market cap 2.35%
Theoretical Best
Office A
$3.76M
$3.29M – $4.39M
NOI $263,391 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,208
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?
Mixed-use property - Constructed in 2019, the property combines contemporary residential interiors with a ground-floor commercial component.
Where is this mixed-use property located?
The property is located at 10211 37th Avenue Corona, NY.
What is the asking price?
The asking price for this property is $3,880,000.
What are key features of this property?
This property features: 2019 construction with a four‑story mixed‑use configuration; One commercial storefront plus 6 residential units; Approximately 5,104 sq ft building on a 25x100 lot
