10-Unit Mixed-Use
For Sale
$3,880,000
109-01 34th Avenue, Corona, NY 11368
Ground-floor commercial space complements the apartments, with a private driveway and underground garage.
Property Size15,115 SF
Price / SF$256.70
Days on Market9
Property Features for 109-01 34th Avenue
General Information
Standard status
Active
Size
15,115 SF
Total Parking Spaces
20
Zoning
R5
Units
Unit Mix
10 x 2BR/1BA
Multifamily Units
10
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$146,345
Amenities
Finished,Full,Storage Space
Yes
Finished, Full, Storage Space
Public
No
Driveway, Garage, Private
15115
Building Details
Building Size
15,115 SF
Year Built
2019
Buildings
1
Listing Agency:
Skylux Realty Inc
(516) 703-2918
Listed By:
Donna Francavilla
Source:
Hedgestonehomes
Added: Oct 21
Changed: Oct 29
Last Checked: Oct 28 at 9:18AM
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 Skylux Realty Inc
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Investment Insights
Based on property information with market context.
Built in 2019, this R5-zoned mixed-use property in Corona combines 10 apartments with a ground-floor commercial unit. Each apartment has two bedrooms and one full bathroom. The building contains 8,046 square feet of residential area, 1,238 square feet of commercial space, and 5,831 square feet of additional usable space. A private driveway and underground garage provide approximately 20 parking spaces.
Transit connections include the 111 Street, 103 Street–Corona Plaza, and Junction Boulevard 7 subway stations, as well as Mets–Willets Point LIRR Station and MTA bus routes. Nearby destinations include Flushing Meadows–Corona Park, Citi Field, and the USTA Billie Jean King National Tennis Center.
Transit connections include the 111 Street, 103 Street–Corona Plaza, and Junction Boulevard 7 subway stations, as well as Mets–Willets Point LIRR Station and MTA bus routes. Nearby destinations include Flushing Meadows–Corona Park, Citi Field, and the USTA Billie Jean King National Tennis Center.
Key Highlights
- 10 residential apartments, each with 2 bedrooms and 1 full bathroom
- 1,238 SF ground‑floor commercial unit
- 8,046 SF of residential space and 5,831 SF of additional usable space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$194,530
Cap Rate
5.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,890,600
$3.9M
Cap Rate 7%
$2,779,000
$2.8M
Cap Rate 9%
$2,161,444
$2.2M
Market Conditions
NOI Build-Up for 15,115 SF
Gross rent
$362.8K $24.00/SF
− Vacancy
−$51.5K −$3.41/SF
EGI
$311.2K $20.59/SF
− OpEx
−$116.7K −$7.72/SF
NOI
$194.5K $12.87/SF
Area
Queens County, NY
Vacancy
14.20%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,890,600
Cap Rate 7%
$2,779,000
Cap Rate 9%
$2,161,444
Alternative Uses
Best Use
Apartment 5plus
$5.28M
$4.62M – $6.16M
NOI $369,477 @ 7.0% cap · market cap 9.52%
Second Best
Mixed Use
$2.78M
$2.43M – $3.24M
NOI $194,530 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$11.14M
$9.75M – $13.00M
NOI $780,007 @ 7.0% cap · market cap 20.10%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
4,995
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor commercial space complements the apartments, with a private driveway and underground garage.
Where is this mixed-use property located?
The property is located at 109-01 34th Avenue Corona, NY.
What is the asking price?
The asking price for this property is $3,880,000.
What are key features of this property?
This property features: 10 residential apartments, each with 2 bedrooms and 1 full bathroom; 1,238 SF ground‑floor commercial unit; 8,046 SF of residential space and 5,831 SF of additional usable space
