Six-Family Apartment
For Sale
$2,450,000
38-11 111th Street, Corona, NY 11368
Commercial Sale, Corona, NY
Property Size5,515 SF
Lot Size0.08 Acres
Price / SF$444.24
Days on Market183
Property Features for 38-11 111th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R5
Rooms
Basement
Parking
3
Basement
Finished, Full
Elementary school district
Queens 24
Middle school district
Queens24
High school district
Queens24
Standard status
Active
APN
01783-0007
Lot size
0.08 Acres
Additional Details
Tenant in Place
Yes
Individually Metered Utilities
gas, electricity
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
11653
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Natural Gas, Hot Water(Heating)
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
fully finished basement
front and rear balconies
backyard
Building Details
Year built
2004
Floors in Building
3
Number of units
6
Flooring type
Hardwood
Building materials
Brick
Buildings
1
Listing Agency:
City Advance Realty Inc
(718) 886-6098
Listed By:
Shan Wang
(917) 575-1188
Added: Apr 30
Changed: Oct 23
Last Checked: Oct 29 at 4:06AM
MLS# 993203
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 2004, this brick apartment property contains six residential units and approximately 5,515 square feet of building area on a 3,688-square-foot lot. The layout includes a fully finished basement, front and rear balconies, a backyard, and three parking spaces. Hardwood flooring, hot-water heating, natural gas service, and window or wall/window cooling are provided. The building has six gas meters and seven electric meters.
The property is located in Corona, approximately one block from the 7 Train and near shopping, transportation, and neighborhood amenities. The site measures approximately 20.50 by 125 feet, with building dimensions of approximately 20.50 by 68.38 feet. Public water and public sewer serve the property, and the building is currently fully occupied.
The property is located in Corona, approximately one block from the 7 Train and near shopping, transportation, and neighborhood amenities. The site measures approximately 20.50 by 125 feet, with building dimensions of approximately 20.50 by 68.38 feet. Public water and public sewer serve the property, and the building is currently fully occupied.
Key Highlights
- Six‑family residential building constructed in 2004
- Approximately 5,515 square feet on a 3,688‑square‑foot lot
- Fully finished basement with front and rear balconies and backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$134,811
Cap Rate
5.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,696,220
$2.7M
Cap Rate 7%
$1,925,871
$1.9M
Cap Rate 9%
$1,497,900
$1.5M
Market Conditions
NOI Build-Up for 5,515 SF
Gross rent
$254.8K $46.20/SF
− Vacancy
−$9.7K −$1.76/SF
EGI
$245.1K $44.44/SF
− OpEx
−$110.3K −$20.00/SF
NOI
$134.8K $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%
$2,696,220
Cap Rate 7%
$1,925,871
Cap Rate 9%
$1,497,900
Alternative Uses
Best Use
Apartment 5plus
$1.93M
$1.69M – $2.25M
NOI $134,811 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.07M
$3.56M – $4.74M
NOI $284,600 @ 7.0% cap · market cap 11.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
856
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Brick residential property with finished basement, outdoor space, balconies, and three on-site parking spaces near the 7 Train.
Where is this apartment building located?
The property is located at 38-11 111th Street Corona, NY.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: Six‑family residential building constructed in 2004; Approximately 5,515 square feet on a 3,688‑square‑foot lot; Fully finished basement with front and rear balconies and backyard
