Brick
New
For Sale
$1,530,000
35-13 109th Street, Corona, NY 11368
Fully occupied residential income property with tenant-paid gas and electricity and access to public transportation.
Property Size3,321 SF
Price / SF$460.70
Days on Market5
Property Features for 35-13 109th Street
General Information
Standard status
Active
Size
3,321 SF
Property subtype
Quadruplex
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$34,005
Building Details
Building Size
3,321 SF
Year Built
2007
Construction
brick
Listing Agency:
EXP Realty
(609) 903-7531
Listed By:
Kenny C. Williams PSA SFR
Source:
Cbwarburg
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 28 at 4:47AM
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 EXP Realty
Investment Insights
Based on property information with market context.
This legal brick quadplex contains four residential units and approximately 3,321 square feet of living space. Built in 2007, the property is currently fully occupied, with tenants responsible for gas and electricity. The four-family configuration provides a clearly defined residential income profile within a maintained building.
The property is located at 35-13 109th Street in Corona, NY 11368. Public transportation, major highways, shopping, restaurants, schools, and parks are all identified nearby, giving the asset access to a broad range of everyday services and transportation options. Its residential layout and existing occupancy make it suitable for buyers seeking a multifamily property with established tenancy.
The property is located at 35-13 109th Street in Corona, NY 11368. Public transportation, major highways, shopping, restaurants, schools, and parks are all identified nearby, giving the asset access to a broad range of everyday services and transportation options. Its residential layout and existing occupancy make it suitable for buyers seeking a multifamily property with established tenancy.
Key Highlights
- Legal four‑family brick property
- Approximately 3,321 square feet of living space
- Built in 2007
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
$81,180
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
5.31%
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%
$1,623,600
$1.6M
Cap Rate 7%
$1,159,714
$1.2M
Cap Rate 9%
$902,000
$902.0K
Market Conditions
NOI Build-Up for 3,321 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
$153.4K $46.20/SF
− Vacancy
−$5.8K −$1.76/SF
EGI
$147.6K $44.44/SF
− OpEx
−$66.4K −$20.00/SF
NOI
$81.2K $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 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%
$1,623,600
Cap Rate 7%
$1,159,714
Cap Rate 9%
$902,000
Alternative Uses
Best Use
Apartment 5plus
$1.16M
$1.01M – $1.35M
NOI $81,180 @ 7.0% cap · market cap 5.31%
Second Best
Multifamily LT 5
$785.3K
$687.1K – $916.1K
NOI $54,968 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$2.45M
$2.14M – $2.86M
NOI $171,380 @ 7.0% cap · market cap 11.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,589
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?
Quadplex - Fully occupied residential income property with tenant-paid gas and electricity and access to public transportation.
Where is this quadplex located?
The property is located at 35-13 109th Street Corona, NY.
What is the asking price?
The asking price for this property is $1,530,000.
What are key features of this property?
This property features: Legal four‑family brick property; Approximately 3,321 square feet of living space; Built in 2007
