Building Details

Building Size 8,574 SF

Year Built 2007

Buildings 1

Listing Agency: Tiger Realty

Listed By: Hang (Tyler) Chen · License #HC3855 Show Phone

Source: Serhant

Added: Aug 24 Changed: Oct 8 Last Checked: Oct 15 at 7:17AM

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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.

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 / Yr

$209,586

Cap Rate

7.49%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,191,720 $4.2M

Cap Rate 7%

$2,994,086 $3.0M

Cap Rate 9%

$2,328,733 $2.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,574 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $442,460 @ 7.0% cap · market cap 15.80%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Law Firm Real Estate Agency Skin Care Clinic Parking Lot & Garage Acupuncture Nursing Home

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

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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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