Four-Story Mixed-Use
For Sale
$3,880,000
10211 37th Avenue, Corona, NY 11368
Commercial Sale, Corona, NY
Property Size5,104 SF
Lot Size0.06 Acres
Price / SF$760.19
Days on Market117
Property Features for 10211 37th Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R6B
Rooms
Basement
Basement
Finished, Full
Appliances
Gas Range, Refrigerator
Middle school
Call Listing Agent
High school
Contact Agent
Elementary school district
Queens 24
Middle school district
Contact Agent
High school district
Contact Agent
Directions
Google Map
Standard status
Active
APN
01743-0031
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
56202
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
2019
Floors in Building
4
Number of units
6
Flooring type
Tile
Building materials
Brick
Listing Agency:
Landmark International R E LLC
(718) 898-8300
Listed By:
Hui Lin
(718) 699-9000
Added: May 12
Changed: Sep 4
Last Checked: Sep 5 at 1:06AM
MLS# 999025
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-story mixed-use property at 10211 37th Avenue combines one commercial storefront with six residential units. Completed in 2019, the approximately 5,104-square-foot building sits on a 25x100 lot and features brick construction, tile flooring, baseboard heating, and wall or window cooling units. The apartments include modern kitchens, contemporary bathrooms, and bright interior layouts. Public water and public sewer serve the property, which also includes a basement.
The property is located in Corona, NY 11368, near shopping, restaurants, public transportation, schools, and major highways. The mixed commercial and residential configuration provides distinct income components within a single building.
The property is located in Corona, NY 11368, near shopping, restaurants, public transportation, schools, and major highways. The mixed commercial and residential configuration provides distinct income components within a single building.
Key Highlights
- 1 commercial storefront plus 6 residential units
- Approximately 5,104 sq ft building on a 25x100 lot
- Built in 2019 with brick construction
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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Newer construction combines a street-level storefront with six residential apartments in a low-maintenance 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: 1 commercial storefront plus 6 residential units; Approximately 5,104 sq ft building on a 25x100 lot; Built in 2019 with brick construction
