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    5615 Van Cleef St Corona, NY 11368

    For Sale
    $3,050,000

    7-Unit Building, High NOI, Excellent Location

    Property size:
    5,130 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    315
    This exceptional 7-unit multifamily building, constructed in 2022, presents a compelling investment opportunity in the heart of Corona, NY. The property boasts 5,130 square feet on a 0.06-acre lot and features a mix of one- and two-bedroom apartments, generating substantial rental income. Six dedicated parking spaces and a basement office further enhance its appeal. The building benefits from strong R6B zoning, allowing for potential future development or expansion. High 9-foot ceilings, new LED lighting, a security camera system, separate meters, and a large rear yard add to its desirability. Strategically located near major roadways, including the Grand Central Parkway and I-495, this property enjoys excellent visibility and accessibility. Its prime location offers proximity to numerous amenities, including Citi Field, Flushing Meadows Corona Park, and a wide array of retail establishments such as Nike, Home Depot, Target, Costco, and more. The current annual gross income is $180,312, with a net operating income (NOI) of $164,475. Detailed financial statements are available upon request, showcasing the strong cash flow potential. Annual expenses include $792 for gas (common area only), $1,320 for electricity (common area only), $250 for maintenance and repairs, $6,589 for insurance, $3,852 for water, and $3,034 for taxes. This property represents a rare opportunity to acquire a high-performing asset in a thriving market with significant upside potential.

    Property Features for 5615 Van Cleef St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    5,130 SF
    Lot Size
    2,614 SF

    Building Details

    Year Built
    2022
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Gonzalo Network LLC ... Photographer G & H Construction ... Painter

    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
    -73.85201
    Latitude
    40.74065

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    FAQs

    What type of property is this?
    Commercial real estate - 7-Unit Building, High NOI, Excellent Location
    Where is this commercial real estate located?
    The property is located at 5615 Van Cleef St Corona, NY.
    What is the asking price?
    The asking price for this property is $3,050,000.
    (516) 783-5600
    Request Owner's contact information
    5615 Van Cleef St 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
    5615 Van Cleef St Corona, NY 11368
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