Four-Family Brick Building in
For Sale
$1,850,000
3416 107th St, Queens, NY 11368
Four-family brick building in Corona with tax abatement.
Property Size4,540 SF
Lot Size0.04 Acres
Days on Market268
Property Features for 3416 107th St
General Information
Standard status
Active
Size
4,540 SF
Lot size
0.04 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$1,149
Building Details
Building Size
4,540 SF
Year Built
2007
Units
4
Listing Agency:
(646) 322-8637
Listed By:
Duan H. Zheng
(646) 322-8637
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Aug 23 at 7:28AM
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 Duan H. Zheng
Investment Insights
Based on property information with market context.
This is a four-family, attached brick building located in the heart of Corona. The property benefits from an 8-year tax abatement. The building consists of four floors plus a basement. The first floor features a three-bedroom apartment with a living room and two bathrooms. The second floor contains two apartments: a front unit with one bedroom, a living room, and one bathroom, and a rear unit with one bedroom, a living room, and one bathroom. The third floor mirrors the first floor, offering a three-bedroom apartment with a living room and two bathrooms. The apartments are described as sunny and spacious. The building is located on a desirable block and is near transportation options.
Key Highlights
- Four‑family brick building in Corona.
- Approximately 8 years of tax abatement remaining.
- Sunny and spacious apartments throughout.
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
$110,978
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
6.00%
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%
$2,219,560
$2.2M
Cap Rate 7%
$1,585,400
$1.6M
Cap Rate 9%
$1,233,089
$1.2M
Market Conditions
NOI Build-Up for 4,540 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
$209.7K $46.20/SF
− Vacancy
−$8.0K −$1.76/SF
EGI
$201.8K $44.44/SF
− OpEx
−$90.8K −$20.00/SF
NOI
$111.0K $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%
$2,219,560
Cap Rate 7%
$1,585,400
Cap Rate 9%
$1,233,089
Alternative Uses
Best Use
Apartment 5plus
$1.59M
$1.39M – $1.85M
NOI $110,978 @ 7.0% cap · market cap 6.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.35M
$2.93M – $3.90M
NOI $234,286 @ 7.0% cap · market cap 12.66%
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?
Apartment building - Four-family brick building in Corona with tax abatement.
Where is this apartment building located?
The property is located at 3416 107th St Queens, NY.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Four‑family brick building in Corona.; Approximately 8 years of tax abatement remaining.; Sunny and spacious apartments throughout.
