Building Details

Building Size 5,120 SF

Year Built 1930

Buildings 1

Stories 3

Units 3

Construction brick

Tenancy Multi

Listing Agency: Telemundo Realty Corp Show Phone

Listed By: Gladys Ramirez · License #31RA0597323 Show Phone

Source: Croninreale

Added: Feb 8, 2025 Changed: Oct 23 Last Checked: Oct 23 at 5:43PM

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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 Telemundo Realty Corp

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Investment Insights

Based on property information with market context.

This 5,120-square-foot mixed-use property in Corona is built of brick and was constructed in 1930. The first floor, basement, and yard are occupied by a barber shop. The second floor contains three bedrooms, a living room, kitchen, and bathroom; the third floor has three bedrooms, a living room, and kitchen, with one bathroom.

Bus and train service, a supermarket, restaurants, banks, a school, and Citi Field are nearby. The property combines a commercial space with two residential floors.

Key Highlights

• 5,120 square feet of mixed‑use space
• Brick construction; built in 1930
• Barber shop occupies the first floor, basement, and yard

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$125,155

Cap Rate

6.59%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,503,100 $2.5M

Cap Rate 7%

$1,787,929 $1.8M

Cap Rate 9%

$1,390,611 $1.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,120 SF

Gross rent

$236.5K $46.20/SF

− Vacancy

−$9.0K −$1.76/SF

EGI

$227.6K $44.44/SF

− OpEx

−$102.4K −$20.00/SF

NOI

$125.2K $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 Rate 5%

$2,503,100

Cap Rate 7%

$1,787,929

Cap Rate 9%

$1,390,611

Alternative Uses

Best Use

Apartment 5plus

$1.79M

$1.56M – $2.09M (±1% cap)

NOI $125,155 @ 7.0% cap · market cap 6.59%

Second Best

Retail

$1.31M

$1.14M – $1.52M (±1% cap)

NOI $91,392 @ 7.0% cap · market cap 4.81%

Theoretical Best

Office A

$3.77M

$3.30M – $4.40M (±1% cap)

NOI $264,217 @ 7.0% cap · market cap 13.91%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency Law Firm Skin Care Clinic Nursing Home Garden Center Acupuncture

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Multi-tenant

Tenancy

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Brick construction and separate commercial and residential areas accommodate varied occupancy within one property.

Where is this mixed-use property located?

The property is located at 106-11 Northern Boulevard Corona, NY.

What is the asking price?

The asking price for this property is $1,900,000.

What are key features of this property?

This property features: 5,120 square feet of mixed‑use space; Brick construction; built in 1930; Barber shop occupies the first floor, basement, and yard