9-Unit Apartment Building with
New
For Sale
$2,800,000
3732 107th Street, Corona, NY 11368
Residential, Corona, NY
Property Size8,574 SF
Lot Size0.06 Acres
Price / SF$326.57
Days on Market1
Property Features for 3732 107th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R5A
Bedrooms
17
Bathrooms
17
Full bathrooms
17
Rooms
Bathroom 5, Bathroom 4, Bedroom 17, Bathroom 7, Bedroom 2, Bathroom 10, Bedroom 13, Bathroom 11, Bathroom 13, Bedroom 6, Bedroom 11, Bathroom 6, Bedroom 10, Bathroom 1, Bathroom 2, Bathroom 9, Bedroom 15, Bedroom 1, Bathroom 16, Bedroom 7, Bedroom 16, Bedroom 14, Bedroom 12, Bedroom 8, Bedroom 4, Bathroom 8, Bedroom 3, Bedroom 5, Bathroom 17, Bathroom 12, Bathroom 14, Bedroom 9, Bathroom 3, Bathroom 15
Interior features
Refrigerator, Stove
Subdivision
Corona
Standard status
Active
Size
8,574 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
627
Building Details
Year built
2007
Floors in Building
5
Number of units
9
Flooring type
Tile, Hardwood
Building materials
Brick
Roof type
Flat
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
Hang (Tyler) Chen · License #HC3855
(917) 708-9966
Added: Aug 24
Last Checked: Aug 24 at 10:06PM
MLS# 504007
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 9-unit apartment building at 37-32 107th Street includes one one-bedroom, one-bath apartment and eight two-bedroom, two-bath apartments. Built in 2007, the 8,574-square-foot brick property features an elevator, flat roof, tile and hardwood flooring, refrigerators, and stoves. The building occupies approximately 0.0638 acres and is zoned R5A.
The property is situated in Corona, Queens, near transportation, shopping, restaurants, and other neighborhood amenities. A tax abatement is in place through 2035, providing an identified operating consideration for prospective owners. The unit mix combines a smaller apartment with eight larger two-bedroom residences within a single multifamily asset.
The property is situated in Corona, Queens, near transportation, shopping, restaurants, and other neighborhood amenities. A tax abatement is in place through 2035, providing an identified operating consideration for prospective owners. The unit mix combines a smaller apartment with eight larger two-bedroom residences within a single multifamily asset.
Key Highlights
- 9‑unit apartment building with 1 one‑bedroom, one‑bath unit and 8 two‑bedroom, two‑bath units
- 8,574 square feet on approximately 0.0638 acres
- Elevator‑served 2007 construction
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 - Brick multifamily property with varied unit layouts, updated finishes, and convenient access to transportation and neighborhood services.
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‑unit apartment building with 1 one‑bedroom, one‑bath unit and 8 two‑bedroom, two‑bath units; 8,574 square feet on approximately 0.0638 acres; Elevator‑served 2007 construction
