Mixed-Use Property with Six
For Sale
$4,950,000
3741 103rd Street, Corona, NY 11368
Three ground-floor storefronts are paired with six apartments across two buildings on one lot.
Property Size6,647 SF
Lot Size0.11 Acres
Price / SF$744.70
Days on Market178
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
Mixed-Use Components
retail, residential
Multifamily Units
6
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$52,731
Building Details
Building Size
6,647 SF
Year Built
1931
Buildings
2
Stories
2
Units
9
Tenancy
Multi
Listing Agency:
Sweet Key Realty Group Inc
Listed By:
Qun D. Lin
(347) 323-2443
Source:
Croninreale
Added: Apr 30
Changed: Oct 23
Last Checked: Oct 23 at 9:50AM
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
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Investment Insights
Based on property information with market context.
This mixed-use property comprises two buildings on a single lot, with 6,647 square feet of building area. The first building has two street-level stores and four apartments above; the second contains one store below two apartments. Together, the buildings provide three commercial units and six residential units. Built in 1931, the property is zoned R6B.
The property is fully rented and generates gross annual income of $340,000, with an approximate NOI of $280,000. The lot measures 50 by 100 feet.
The property is fully rented and generates gross annual income of $340,000, with an approximate NOI of $280,000. The lot measures 50 by 100 feet.
Key Highlights
- Two buildings on one lot, with 6,647 square feet of building area
- Three commercial units and six apartments
- One building has two stores and four apartments; the second has one store and two apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$162,482
Cap Rate
3.28%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three ground-floor storefronts are paired with six apartments across two buildings on one lot.
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: Two buildings on one lot, with 6,647 square feet of building area; Three commercial units and six apartments; One building has two stores and four apartments; the second has one store and two apartments
