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    11239 38Th Ave Corona, NY 11368

    Sponsored
    For Sale
    $3,300,000

    Eight-unit multifamily building, excellent location.

    Property size:
    6,424 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional investment opportunity presents an eight-unit multifamily building located at 11239 38th Ave, Corona, NY. The property boasts a substantial 6,424 square feet of space, constructed in 2006, and sits on a 0-acre lot. The building's dimensions are 22 feet by 73 feet, providing ample living space for its eight residential units. A full basement offers additional storage and potential for expansion. Convenient off-street parking is available for four vehicles. The property's prime location is just two blocks from the 7 Train station, ensuring easy access to public transportation. A significant advantage is the presence of a 25-year tax abatement, offering substantial financial benefits to the owner. The building is equipped with individual hot water heaters for each unit. This property presents a compelling investment opportunity, particularly suitable for 1031 exchanges, due to its strong cash flow potential and strategic location. Motivated sellers are eager to facilitate a swift and efficient transaction. This is a rare chance to acquire a well-maintained, high-performing multifamily property in a rapidly developing area.

    Property Features for 11239 38Th Ave

    General Information

    Property type
    Other commercial real estate
    Square Feet
    6,424 SF

    Building Details

    Year Built
    2006
    Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Corona
    County
    Queens
    State
    New York
    Longitude
    -73.85409
    Latitude
    40.75418

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    FAQs

    What type of property is this?
    Commercial real estate - Eight-unit multifamily building, excellent location.
    Where is this commercial real estate located?
    The property is located at 11239 38Th Ave Corona, NY.
    What is the asking price?
    The asking price for this property is $3,300,000.
    (718) 487-9992
    Request Owner's contact information
    11239 38Th Ave Corona, NY 11368
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    Corona, NY 11368
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    11239 38Th Ave Corona, NY 11368
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