Multifamily
For Sale
$2,215,000
10418 46th Avenue, Corona, NY 11368
Built in 1920 with proximity to public transportation and shopping centers.
Property Size4,724 SF
Days on Market140
Property Features for 10418 46th Avenue
General Information
Standard status
Active
Size
4,724 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$14,244
Building Details
Building Size
4,724 SF
Year Built
1920
Listing Agency:
Cruz Network Cruse Realty
(718) 760-5464
Listed By:
Ruth M. Bonilla
Source:
Barbieliteam
Added: Mar 24
Changed: Aug 3
Last Checked: Aug 10 at 9:26AM
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 Cruz Network Cruse Realty
Investment Insights
Based on property information with market context.
This multifamily property was constructed in 1920 and is located at 10418 46th Avenue in Corona, NY 11368. The property is near public transportation and shopping centers, providing access to nearby everyday services and transit options.
Key Highlights
- Multifamily property built in 1920
- Located at 10418 46th Avenue, Corona, NY 11368
- Near public transportation and shopping centers
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
$115,475
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
5.21%
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%
$2,309,500
$2.3M
Cap Rate 7%
$1,649,643
$1.6M
Cap Rate 9%
$1,283,056
$1.3M
Market Conditions
NOI Build-Up for 4,724 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
$218.2K $46.20/SF
− Vacancy
−$8.3K −$1.76/SF
EGI
$210.0K $44.44/SF
− OpEx
−$94.5K −$20.00/SF
NOI
$115.5K $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%
$2,309,500
Cap Rate 7%
$1,649,643
Cap Rate 9%
$1,283,056
Alternative Uses
Best Use
Apartment 5plus
$1.65M
$1.44M – $1.92M
NOI $115,475 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.48M
$3.05M – $4.06M
NOI $243,781 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,103
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?
Multifamily property - Built in 1920 with proximity to public transportation and shopping centers.
Where is this multifamily property located?
The property is located at 10418 46th Avenue Corona, NY.
What is the asking price?
The asking price for this property is $2,215,000.
What are key features of this property?
This property features: Multifamily property built in 1920; Located at 10418 46th Avenue, Corona, NY 11368; Near public transportation and shopping centers
