Building Details

Building Size 5,184 SF

Year Built 2005

Stories 4

Construction brick walk-up

Listed By: Nadira Persaud Show Phone

Source: Parkassets

Added: Jul 8 Changed: Oct 6 Last Checked: Oct 7 at 9:47AM

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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 Nadira Persaud

Investment Insights

Based on property information with market context.

Built in 2005, this four-story brick walk-up combines rent-stabilized residential units with two community facility units. The community spaces are currently occupied by a religious center and a professional herbal treatment center. Individual gas and electric meters support separate utility management, while a sprinkler system serves the building throughout. The property is fully occupied and carries a 6.25% cap rate.

Located at 38-19 99th Street in Corona, the building is a short walk from Roosevelt Avenue and near subway access serving Manhattan and Flushing. The surrounding Roosevelt Avenue corridor provides nearby commerce and dining, while the property’s mixed-use configuration accommodates both residential and community-oriented occupancy.

Key Highlights

• Fully occupied mixed‑use property with rent‑stabilized residential units
• Two community facility units currently used by a religious center and herbal treatment center
• Four‑story brick walk‑up built in 2005

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$165,240

Cap Rate

6.91%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,304,800 $3.3M

Cap Rate 7%

$2,360,571 $2.4M

Cap Rate 9%

$1,836,000 $1.8M

Market Conditions

NOI Build-Up for 5,184 SF

Gross rent

$311.0K $60.00/SF

− Vacancy

−$46.7K −$9.00/SF

EGI

$264.4K $51.00/SF

− OpEx

−$99.1K −$19.13/SF

NOI

$165.2K $31.88/SF

Area

New York, NY

Vacancy

15.00%

Lease Rate

$60.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,304,800

Cap Rate 7%

$2,360,571

Cap Rate 9%

$1,836,000

Alternative Uses

Best Use

Mixed Use

$2.36M

$2.07M – $2.75M (±1% cap)

NOI $165,240 @ 7.0% cap · market cap 6.91%

Second Best

Apartment 5plus

$2.32M

$2.03M – $2.70M (±1% cap)

NOI $162,193 @ 7.0% cap · market cap 6.79%

Theoretical Best

Specialty Retail

$12.90M

$11.29M – $15.05M (±1% cap)

NOI $903,260 @ 7.0% cap · market cap 37.79%

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

Property Analytics

Current Use

Churches & religious facilities

Suggested Use

Top Pick Real Estate Agency Law Firm Parking Lot & Garage Gym & Fitness Center Nursing Home Carpet & Flooring Store

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

7

Residential units

100%

Occupancy

Yes

Sprinkler system

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

5,556

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Fully occupied mixed-use building with rent-stabilized residences and community facility space in Corona.

Where is this mixed-use property located?

The property is located at 38-19 99th Street Corona Ny, NY.

What is the asking price?

The asking price for this property is $2,390,000.

What are key features of this property?

This property features: Fully occupied mixed‑use property with rent‑stabilized residential units; Two community facility units currently used by a religious center and herbal treatment center; Four‑story brick walk‑up built in 2005