108-40 51st Ave, Queens, NY 11368
Two-story building in Corona, NY, ideal for investment.
- Added:
- Jul 18, 2023
- Days on Market:
- 1064
- Last Refresh:
- May 12 at 8:12 pm
Property Features for 108-40 51st Ave
General Information
- Standard status
- Active
- Size
- 4,444 SF
- Lot size
- 0.11 Acres
- Property subtype
- Multifamily
Listing agent Samia Farah License #NY 4OM01167813
Listing office KSR Kassin Sabbagh Realty
Listing date Jul 18, 2023
Source Crexi
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 KSR Kassin Sabbagh Realty
HighLights
- Excellent development potential with R5 zoning and a FAR of .89
- Stable rental income
- Generous 5,000 sqft lot (50 ft x 100 ft)
- Two‑story building with five to six families (C2 classification) offering 4,444 sqft of living space
- Reasonable property taxes of $13,965
Overview
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $205.3k | $46.20 |
| − Vacancy | −$7.8k | −$1.76 |
| EGI | $197.5k | $44.44 |
| − OpEx | −$88.9k | −$20.00 |
| NOI | $108.6k | $24.44 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.942798
- Latitude
- 40.739877
