Building Details

Year Built 2014

Buildings 1

Tenancy Single

Listing Agency: B Square Realty Show Phone

Listed By: Li Li (barbieli@bsquarerealty.com) Show Phone

Source: Mikecarrollsellshomes

Added: Aug 26 Changed: Oct 15 Last Checked: Oct 14 at 10:29PM

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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 B Square Realty

Investment Insights

Based on property information with market context.

This mixed-use property at 37-40 103RD Unit #S1A in Corona combines one ground-floor retail space with five residential units. The layout brings commercial and residential components together in a single income-producing asset, with the storefront positioned for street exposure and the apartments serving the local rental market.

Built in 2014, the property is located near commercial corridors, supermarkets, restaurants, schools, and parks. Subway lines and multiple bus routes provide transit access, while the surrounding Corona neighborhood offers established residential and retail activity. The property is reported to produce a 7.44% yield.

Key Highlights

• One ground‑floor retail space paired with five residential units
• Reported 7.44% yield
• Built in 2014

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$165,024

Cap Rate

5.52%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $165,024 @ 7.0% cap · market cap 5.52%

Second Best

Retail

$1.72M

$1.51M – $2.01M (±1% cap)

NOI $120,505 @ 7.0% cap · market cap 4.03%

Theoretical Best

Office A

$4.98M

$4.35M – $5.81M (±1% cap)

NOI $348,384 @ 7.0% cap · market cap 11.65%

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 Acupuncture Carpet & Flooring Store Nursing Home Veterinary Clinic

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

5

Residential units

Single-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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Combined commercial and residential configuration supports multiple income streams in Corona.

Where is this mixed-use property located?

The property is located at 37-40 103RD Unit #S1A 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: One ground‑floor retail space paired with five residential units; Reported 7.44% yield; Built in 2014