Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Retail Space in Elmhurst Title is generated by Realmo AI

    91-23 Corona Avenue S1, Elmhurst, NY 11373

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $12,980 /Mo

    New retail space with street exposure, close to transportation.

    Type:Rental
    Added:
    Dec 10, 2024
    Days on Market:
    529
    Last Refresh:
    May 19 at 11:39 pm

    Property Features for 91-23 Corona Avenue S1

    General Information

    Standard status
    Active
    Property subtype
    Rental

    We can help!

    Listing Contact
    Hsin Yuan Yang

    Listing agent Hsin Yuan Yang License #10311205376

    Listing office E Realty International Corp

    Listing date Dec 10, 2024

    Source Exitrealty

    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 E Realty International Corp

    HighLights

    • Brand new modern condominium building.
    • Prime retail space in the heart of Elmhurst.
    • Ground floor unit with street facing windows.
    • Great business exposure.
    • Steps away from public transportation.
    • Wonderful commercial opportunity.

    Overview

    Located in the heart of Elmhurst, Apollo Plaza offers a ground floor retail space within a new, modern condominium building. The unit features street-facing windows, providing significant business exposure. The property is positioned steps away from public transportation, offering convenient accessibility. This space presents a commercial opportunity within Apollo Plaza.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Elmhurst
    County
    Queens
    State
    New York
    Longitude
    -73.879064
    Latitude
    40.738953

    Nearby Similar for Lease

    • $12,500/Mo
      4,500 SF

      Full-Floor Office in Elmhurst

      Prime Elmhurst location, ideal for various professional uses.
      74-02 Grand Ave, Elmhurst, NY 11373
      View Details
    • $6,658/Mo
      940 SF

      Prime Elmhurst Retail Space Available

      Retail spaces for lease in a high-traffic Elmhurst location.
      74-02 Grand Ave, Elmhurst, NY 11373
      View Details
    • $12,158/Mo
      1,704 SF

      Prime Elmhurst Retail Space

      New retail space in a high-traffic Elmhurst location.
      7402 Grand Avenue, Elmhurst, NY 11373
      View Details
    • $4,000/Mo
      1,688 SF

      Elmhurst Commercial Space For Rent

      Retail space available for rent in Elmhurst, Queens.
      94-02 57th Avenue, Elmhurst, NY 11373
      View Details
    • $4,000/Mo

      Elmhurst Storefront on Queens Blvd

      High-traffic storefront space suitable for retail, office, or professional services.
      84-05 Queens Boulevard, Elmhurst, NY 11373
      View Details
    • $1,400/Mo

      Prime Retail/Office Space Available

      Highly visible commercial space in the heart of Elmhurst, Queens.
      85-12 Queens Boulevard, Elmhurst, NY 11373
      View Details
    • $4,500/Mo

      Elmhurst Office Space Available

      Second floor office with private entrance in Elmhurst, NY.
      40-28 82nd Street, Elmhurst, NY 11373
      View Details
    • $5,500/Mo

      Commercial Storefront in Elmhurst, NY

      Commercial store available for lease in Elmhurst, New York.
      74-02 Grand Ave, Elmhurst, NY 11373
      View Details
    • $60 SF/Yr

      Elmhurst Commercial Space for Lease

      Ground-floor commercial space in Elmhurst with flexible layout.
      88-08 Justice Avenue, Elmhurst, NY 11373
      View Details
    • $15,000/Mo
      4,100 SF

      Elmhurst Retail Space Available

      4100 sqft retail space in Elmhurst, NY for rent.
      95-35 40 Road, Elmhurst, NY 11373
      View Details
    • $85 SF/Yr

      Elmhurst Retail Space Available

      16,700 SF retail space in a high-traffic Elmhurst location.
      82-02 45th Avenue, Elmhurst, NY 11373
      View Details
    • Contact for pricing
      100,000 SF

      Elmhurst Office Space Available

      100000 sqft office space for rent in Elmhurst.
      59-17 Junction Boulevard, Elmhurst, NY, 11373
      View Details

    FAQs

    What type of property is this?
    Retail space - New retail space with street exposure, close to transportation.
    Where is this retail space located?
    The property is located at 91-23 Corona Avenue S1 Elmhurst, NY.
    What is the lease rate?
    The lease rate is $12,980 /Mo.
    What are key features of this property?
    This property features: Brand new modern condominium building.; Prime retail space in the heart of Elmhurst.; Ground floor unit with street facing windows.
    (718) 886-8110
    We can help!
    Listing Contact
    Hsin Yuan Yang
    Real Estate License ID: 10311205376
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    91-23 Corona Avenue S1, Elmhurst, NY 11373
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!