14-Unit Apartment
For Sale
Contact for pricing
110-50 Corona Ave, Corona, NY 11368
Multifamily property with duplex layouts, dedicated building systems, and four front parking spaces.
Property Size9,750 SF
Price / SF$328.21
Days on Market147
Property Features for 110-50 Corona Ave
General Information
Standard status
Active
Size
9,750 SF
Total Parking Spaces
4
Property subtype
Multifamily
Zoning
R6B
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$131,558
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
6 x 2BR, 6 x 1BR, 2 x Studio
Multifamily Units
14
Additional Details
Gross Income
$227,976
Building Details
Year Built
1990
Year Renovated
2010
Buildings
2
Stories
4
Units
14
Listing Agency:
RE/MAX Team
(917) 806-7040
Listed By:
Victor Weinberger · License #NY
Source:
Crexi
Added: Apr 8
Changed: Aug 30
Last Checked: Aug 30 at 6:56PM
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 RE/MAX Team
Investment Insights
Based on property information with market context.
This 14-unit apartment building in Corona, NY, was constructed in 1990 and contains six two-bedroom apartments, six one-bedroom apartments, and two studios. Eight of the apartments are duplexes. The property has 14 boilers, 14 gas meters, and 15 electric meters, with a total building area of 9,750 square feet. Apartment floors feature wood tile over concrete, while the hallways have concrete floors and steel railings. The property is zoned R6B.
Four parking spaces are positioned at the front of the building. The property is located two blocks from the Long Island Expressway service road, four blocks from Forest Hills, and 1.5 blocks from Terrace on the Park and Flushing Meadows Park.
Four parking spaces are positioned at the front of the building. The property is located two blocks from the Long Island Expressway service road, four blocks from Forest Hills, and 1.5 blocks from Terrace on the Park and Flushing Meadows Park.
Key Highlights
- 14‑unit apartment building constructed in 1990
- Unit mix includes six 2‑bedroom apartments, six 1‑bedroom apartments, and two studios
- Eight apartments feature duplex layouts
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
$238,333
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
7.45%
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%
$4,766,660
$4.8M
Cap Rate 7%
$3,404,757
$3.4M
Cap Rate 9%
$2,648,144
$2.6M
Market Conditions
NOI Build-Up for 9,750 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
$450.5K $46.20/SF
− Vacancy
−$17.1K −$1.76/SF
EGI
$433.3K $44.44/SF
− OpEx
−$195.0K −$20.00/SF
NOI
$238.3K $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%
$4,766,660
Cap Rate 7%
$3,404,757
Cap Rate 9%
$2,648,144
Alternative Uses
Best Use
Apartment 5plus
$3.40M
$2.98M – $3.97M
NOI $238,333 @ 7.0% cap · market cap 7.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.19M
$6.29M – $8.39M
NOI $503,147 @ 7.0% cap · market cap 15.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
5,119
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with duplex layouts, dedicated building systems, and four front parking spaces.
Where is this apartment building located?
The property is located at 110-50 Corona Ave Corona, NY.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 14‑unit apartment building constructed in 1990; Unit mix includes six 2‑bedroom apartments, six 1‑bedroom apartments, and two studios; Eight apartments feature duplex layouts
