Building Details

Building Size 5,120 SF

Year Built 1930

Buildings 1

Stories 3

Units 3

Construction brick

Tenancy Multi

Listing Agency: Telemundo Realty Corp Show Phone

Listed By: Gladys Ramirez · License #31RA0597323 Show Phone

Source: Croninreale

Added: Feb 8, 2025 Changed: Oct 23 Last Checked: Oct 23 at 5:43PM

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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 Telemundo Realty Corp

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 5,120-square-foot mixed-use property in Corona is built of brick and was constructed in 1930. The first floor, basement, and yard are occupied by a barber shop. The second floor contains three bedrooms, a living room, kitchen, and bathroom; the third floor has three bedrooms, a living room, and kitchen, with one bathroom.

Bus and train service, a supermarket, restaurants, banks, a school, and Citi Field are nearby. The property combines a commercial space with two residential floors.

Key Highlights

• 5,120 square feet of mixed‑use space
• Brick construction; built in 1930
• Barber shop occupies the first floor, basement, and yard

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$125,155

Cap Rate

6.59%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,503,100 $2.5M

Cap Rate 7%

$1,787,929 $1.8M

Cap Rate 9%

$1,390,611 $1.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,120 SF

Gross rent

$236.5K $46.20/SF

− Vacancy

−$9.0K −$1.76/SF

EGI

$227.6K $44.44/SF

− OpEx

−$102.4K −$20.00/SF

NOI

$125.2K $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%

$2,503,100

Cap Rate 7%

$1,787,929

Cap Rate 9%

$1,390,611

Alternative Uses

Best Use

Apartment 5plus

$1.79M

$1.56M – $2.09M (±1% cap)

NOI $125,155 @ 7.0% cap · market cap 6.59%

Second Best

Retail

$1.31M

$1.14M – $1.52M (±1% cap)

NOI $91,392 @ 7.0% cap · market cap 4.81%

Theoretical Best

Office A

$3.77M

$3.30M – $4.40M (±1% cap)

NOI $264,217 @ 7.0% cap · market cap 13.91%

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

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency Law Firm Skin Care Clinic Nursing Home Garden 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

2

Residential units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

2,548

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 - Brick construction and separate commercial and residential areas accommodate varied occupancy within one property.

Where is this mixed-use property located?

The property is located at 106-11 Northern Boulevard Corona, NY.

What is the asking price?

The asking price for this property is $1,900,000.

What are key features of this property?

This property features: 5,120 square feet of mixed‑use space; Brick construction; built in 1930; Barber shop occupies the first floor, basement, and yard