Corona Two-Family Brick
For Sale
$1,700,000
Pending
11021 55th Ave, Queens, NY 11368
Two-family home in Corona near schools, shopping, and transportation.
Property Size3,204 SF
Lot Size0.05 Acres
Days on Market269
Property Features for 11021 55th Ave
General Information
Standard status
Pending
Size
3,204 SF
Lot size
0.05 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$10,592
Building Details
Building Size
3,204 SF
Year Built
1968
Units
3
Listing Agency:
(347) 678-4819
Listed By:
Connie Francisco
(347) 678-4819
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 23
Last Checked: Aug 23 at 7:41AM
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 Connie Francisco
Investment Insights
Based on property information with market context.
This is a solid brick two-family home located in Corona. The residence features spacious layouts in both units, including multiple bedrooms and generous living areas. A finished basement provides additional space and flexibility. Private driveway parking is available. The property is ideally situated near schools, shopping, and public transportation. The units are vacant, presenting an opportunity for investors and end-users.
Key Highlights
- Solid brick two‑family home in Corona
- Vacant units ideal for investors or end‑users
- Spacious layouts with multiple bedrooms and generous living areas
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
$78,320
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
4.61%
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%
$1,566,400
$1.6M
Cap Rate 7%
$1,118,857
$1.1M
Cap Rate 9%
$870,222
$870.2K
Market Conditions
NOI Build-Up for 3,204 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
$148.0K $46.20/SF
− Vacancy
−$5.6K −$1.76/SF
EGI
$142.4K $44.44/SF
− OpEx
−$64.1K −$20.00/SF
NOI
$78.3K $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%
$1,566,400
Cap Rate 7%
$1,118,857
Cap Rate 9%
$870,222
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$979.0K – $1.31M
NOI $78,320 @ 7.0% cap · market cap 4.61%
Second Best
Multifamily LT 5
$757.6K
$662.9K – $883.9K
NOI $53,031 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$2.36M
$2.07M – $2.76M
NOI $165,342 @ 7.0% cap · market cap 9.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family home in Corona near schools, shopping, and transportation.
Where is this duplex located?
The property is located at 11021 55th Ave Queens, NY.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Solid brick two‑family home in Corona; Vacant units ideal for investors or end‑users; Spacious layouts with multiple bedrooms and generous living areas
