Building Details

Building Size 5,104 SF

Year Built 2019

Buildings 1

Stories 4

Units 6

Tenancy Multi

Listing Agency: Landmark International R E LLC j***@landmarkre.nyc

Listed By: Hui Lin Show Phone

Source: Croninreale

Added: May 13 Changed: Oct 23 Last Checked: Oct 23 at 9:50AM

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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

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Investment Insights

Based on property information with market context.

Completed in 2019, this four-story mixed-use property contains 5,104 square feet, with one commercial storefront and six residential units. The apartments have modern kitchens, updated bathrooms, and contemporary interior finishes. The parcel measures 25 by 100 feet.

Located at 10211 37th Avenue in Corona, the property is near shopping, restaurants, public transportation, schools, and major highways. The reported zoning designations conflict, so no zoning classification is included.

Key Highlights

• One commercial storefront and six residential units
• 5,104‑square‑foot building on a 25‑by‑100‑foot lot
• Four‑story construction completed in 2019

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$124,764

Cap Rate

3.22%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,495,280 $2.5M

Cap Rate 7%

$1,782,343 $1.8M

Cap Rate 9%

$1,386,267 $1.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,104 SF

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 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 (±1% cap)

NOI $124,764 @ 7.0% cap · market cap 3.22%

Second Best

Retail

$1.30M

$1.14M – $1.52M (±1% cap)

NOI $91,106 @ 7.0% cap · market cap 2.35%

Theoretical Best

Office A

$3.76M

$3.29M – $4.39M (±1% cap)

NOI $263,391 @ 7.0% cap · market cap 6.79%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Law Firm Real Estate Agency Parking Lot & Garage Skin Care Clinic Gym & Fitness Center Acupuncture

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

6

Residential units

Multi-tenant

Tenancy

Yes

Highway access

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - A ground-floor storefront accompanies six residential apartments in a four-story configuration.

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: One commercial storefront and six residential units; 5,104‑square‑foot building on a 25‑by‑100‑foot lot; Four‑story construction completed in 2019