Mixed-Use Property With
For Sale
$4,950,000
3741 103rd Street, Corona, NY 11368
Two-building asset combines ground-floor commercial space with six residential apartments and is fully rented.
Property Size6,647 SF
Lot Size0.11 Acres
Days on Market123
Property Features for 3741 103rd Street
General Information
Standard status
Active
Size
6,647 SF
Lot size
0.11 Acres
Property subtype
Commercial
Zoning
R6B
Occupancy
100%
Net Operating Income
$280,000
Additional Details
Gross Income
$340,000
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$52,731
Building Details
Building Size
6,647 SF
Year Built
1931
Buildings
2
Units
9
Listing Agency:
Sweet Key Realty Group Inc
(347) 323-2443
Listed By:
Qun D. Lin
(347) 323-2443
Source:
Professionalchoicerealty
Added: Apr 30
Changed: Aug 29
Last Checked: Aug 30 at 5:34PM
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 Sweet Key Realty Group Inc
Investment Insights
Based on property information with market context.
This mixed-use property consists of two buildings on a single 50-by-100-foot lot, with three commercial units and six residential apartments. The first building contains two stores at street level and four apartments above, while the second provides one store on the ground floor and two apartments on the second floor. The improvements date to 1931 and are described as being in excellent condition.
The property is fully rented and carries R6B zoning. Its address is 3741 103rd Street in Corona, New York.
The property is fully rented and carries R6B zoning. Its address is 3741 103rd Street in Corona, New York.
Key Highlights
- Three commercial units and six residential apartments
- Two buildings situated on one 50‑by‑100‑foot lot
- Fully rented mixed‑use property
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
$162,482
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
3.28%
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%
$3,249,640
$3.2M
Cap Rate 7%
$2,321,171
$2.3M
Cap Rate 9%
$1,805,356
$1.8M
Market Conditions
NOI Build-Up for 6,647 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
$307.1K $46.20/SF
− Vacancy
−$11.7K −$1.76/SF
EGI
$295.4K $44.44/SF
− OpEx
−$132.9K −$20.00/SF
NOI
$162.5K $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%
$3,249,640
Cap Rate 7%
$2,321,171
Cap Rate 9%
$1,805,356
Alternative Uses
Best Use
Apartment 5plus
$2.32M
$2.03M – $2.71M
NOI $162,482 @ 7.0% cap · market cap 3.28%
Second Best
Retail
$1.69M
$1.48M – $1.98M
NOI $118,649 @ 7.0% cap · market cap 2.40%
Theoretical Best
Office A
$4.90M
$4.29M – $5.72M
NOI $343,017 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
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?
Mixed-use property - Two-building asset combines ground-floor commercial space with six residential apartments and is fully rented.
Where is this mixed-use property located?
The property is located at 3741 103rd Street Corona, NY.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: Three commercial units and six residential apartments; Two buildings situated on one 50‑by‑100‑foot lot; Fully rented mixed‑use property
