Mixed-Use Property with
For Sale
$2,990,000
37-40 103th Street, Corona, NY 11368
2014-built income property combining a street-level commercial space with five residential units and access to transit and neighborhood amenities.
Property Size6,751 SF
Days on Market201
Property Features for 37-40 103th Street
General Information
Standard status
Active
Size
6,751 SF
Property subtype
Commercial
Additional Details
Cap Rate
7.44%
Public Transit
Yes
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$10,407
Building Details
Building Size
6,751 SF
Year Built
2014
Units
6
Tenancy
Multi
Listing Agency:
B Square Realty
(718) 939-8388
Listed By:
Li Li
(646) 889-9988
Source:
Mahlerrealty
Added: Mar 2
Changed: Sep 18
Last Checked: Sep 18 at 2:43PM
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.
Built in 2014, this mixed-use property combines one ground-floor retail space with five residential units, creating separate commercial and residential components within a single asset. The configuration supports multiple income streams while maintaining a straightforward layout for mixed-use ownership.
The property is located at 37-40 103th Street in Corona, NY 11368, near commercial corridors, supermarkets, restaurants, schools, and parks. Subway lines and multiple bus routes provide transit access, while the storefront faces the street and benefits from pedestrian activity. The combination of retail frontage, residential occupancy potential, and surrounding daily-use amenities positions the property for both commercial and residential tenancy.
The property is located at 37-40 103th Street in Corona, NY 11368, near commercial corridors, supermarkets, restaurants, schools, and parks. Subway lines and multiple bus routes provide transit access, while the storefront faces the street and benefits from pedestrian activity. The combination of retail frontage, residential occupancy potential, and surrounding daily-use amenities positions the property for both commercial and residential tenancy.
Key Highlights
- 7.44% Cap Rate
- One ground‑floor retail space plus 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
5.52%
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 5.52%
Second Best
Retail
$1.72M
$1.51M – $2.01M
NOI $120,505 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$4.98M
$4.35M – $5.81M
NOI $348,384 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 2014-built income property combining a street-level commercial space with five residential units and access to transit and neighborhood amenities.
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 $2,990,000.
What are key features of this property?
This property features: 7.44% Cap Rate; One ground‑floor retail space plus five residential units; Built in 2014
