9-Unit Apartment Building with
New
For Sale
$2,800,000
3732 107th Street, Corona, NY 11368
Elevator-equipped apartment building with a nine-unit configuration and a tax abatement through 2035.
Property Size8,574 SF
Days on Market7
Property Features for 3732 107th Street
General Information
Standard status
Active
Size
8,574 SF
Elevators
Yes
Property subtype
Multi Family
Units
Unit Mix
1 x 1BR/1BA, 8 x 2BR/2BA
Multifamily Units
9
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$627
Building Details
Building Size
8,574 SF
Year Built
2007
Buildings
1
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Hang (Tyler) Chen · License #HC3855
(917) 708-9966
Source:
Serhant
Added: Aug 24
Changed: Aug 29
Last Checked: Aug 29 at 10:36AM
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 Tiger Realty
Investment Insights
Based on property information with market context.
Built in 2007, this apartment building contains 9 residential units with a mix of one-bedroom and two-bedroom layouts. The property includes 1 apartment with 1 bedroom and 1 bathroom, along with 8 apartments offering 2 bedrooms and 2 bathrooms each. An elevator serves the building.
The property is located at 3732 107th Street in Corona, NY 11368, near transportation, shopping, restaurants, and neighborhood amenities. A tax abatement is in place through 2035, providing an additional property-specific operating consideration.
The property is located at 3732 107th Street in Corona, NY 11368, near transportation, shopping, restaurants, and neighborhood amenities. A tax abatement is in place through 2035, providing an additional property-specific operating consideration.
Key Highlights
- 9‑family apartment building with an elevator
- Unit mix includes 1 apartment with 1 bedroom and 1 bathroom
- 8 apartments feature 2 bedrooms and 2 bathrooms each
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
$209,586
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
7.49%
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%
$4,191,720
$4.2M
Cap Rate 7%
$2,994,086
$3.0M
Cap Rate 9%
$2,328,733
$2.3M
Market Conditions
NOI Build-Up for 8,574 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
$396.1K $46.20/SF
− Vacancy
−$15.1K −$1.76/SF
EGI
$381.1K $44.44/SF
− OpEx
−$171.5K −$20.00/SF
NOI
$209.6K $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%
$4,191,720
Cap Rate 7%
$2,994,086
Cap Rate 9%
$2,328,733
Alternative Uses
Best Use
Apartment 5plus
$2.99M
$2.62M – $3.49M
NOI $209,586 @ 7.0% cap · market cap 7.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.32M
$5.53M – $7.37M
NOI $442,460 @ 7.0% cap · market cap 15.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
4,453
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 - Elevator-equipped apartment building with a nine-unit configuration and a tax abatement through 2035.
Where is this apartment building located?
The property is located at 3732 107th Street Corona, NY.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 9‑family apartment building with an elevator; Unit mix includes 1 apartment with 1 bedroom and 1 bathroom; 8 apartments feature 2 bedrooms and 2 bathrooms each
