Mixed-Use Property with
For Sale
Contact for pricing
37-40 103th Street, Corona, NY 11368
Six-unit mixed-use building combining a street-level commercial space with residential apartments in Corona.
Property Size6,751 SF
Price / SF$485.85
Days on Market181
Property Features for 37-40 103th Street
General Information
Standard status
Active
Size
6,751 SF
Property subtype
Mixed Use, Retail
Zoning
R5
Occupancy
100%
Net Operating Income
$222,444
Additional Details
Cap Rate
6.78%
Public Transit
Yes
Multifamily Units
5
Building Details
Year Built
2014
Units
6
Tenancy
Multi
Listing Agency:
B Square Realty
Listed By:
Li Barbie Li · License #NY 10301212225
Source:
Crexi
Added: Mar 3
Changed: Aug 29
Last Checked: Aug 29 at 6:11PM
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 B Square Realty
Investment Insights
Based on property information with market context.
This mixed-use property contains 6,751 square feet with one ground-floor retail space and five residential units. The building was constructed in 2014 and is zoned R5, offering a combined commercial and residential configuration within a single asset.
Located on 103th Street in Corona, New York, the property is near commercial corridors, supermarkets, restaurants, schools, and parks. Subway lines and multiple bus routes provide transit access, while the storefront has direct street exposure and the residential component serves the local rental market.
Located on 103th Street in Corona, New York, the property is near commercial corridors, supermarkets, restaurants, schools, and parks. Subway lines and multiple bus routes provide transit access, while the storefront has direct street exposure and the residential component serves the local rental market.
Key Highlights
- 6,751‑square‑foot mixed‑use property
- One ground‑floor retail space with five residential units
- Built in 2014
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
$165,024
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
5.03%
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%
$3,300,480
$3.3M
Cap Rate 7%
$2,357,486
$2.4M
Cap Rate 9%
$1,833,600
$1.8M
Market Conditions
NOI Build-Up for 6,751 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
$311.9K $46.20/SF
− Vacancy
−$11.9K −$1.76/SF
EGI
$300.0K $44.44/SF
− OpEx
−$135.0K −$20.00/SF
NOI
$165.0K $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%
$3,300,480
Cap Rate 7%
$2,357,486
Cap Rate 9%
$1,833,600
Alternative Uses
Best Use
Apartment 5plus
$2.36M
$2.06M – $2.75M
NOI $165,024 @ 7.0% cap · market cap 5.03%
Second Best
Retail
$1.72M
$1.51M – $2.01M
NOI $120,505 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$4.98M
$4.35M – $5.81M
NOI $348,384 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,354
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?
Mixed-use property - Six-unit mixed-use building combining a street-level commercial space with residential apartments in Corona.
Where is this mixed-use property located?
The property is located at 37-40 103th Street Corona, NY.
What is the asking price?
The asking price for this property is $3,280,000.
What are key features of this property?
This property features: 6,751‑square‑foot mixed‑use property; One ground‑floor retail space with five residential units; Built in 2014
