Building Details

Building Size 5,184 SF

Year Built 2005

Stories 4

Units 9

Construction brick walk-up

Listing Agency: Lin Pan Realty Group LLC i***@linpanrealty.com Show Phone

Listed By: Qian Huang Show Phone

Source: Croninreale

Added: Apr 17 Changed: Oct 23 Last Checked: Oct 23 at 4:49PM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This four-level brick walk-up, completed in 2005, contains rent-stabilized residential units alongside two community facility units. Those spaces are currently used as a religious center and a professional herbal treatment center. The building has individual gas and electric meters and sprinkler coverage throughout.

At 38-19 99th Street in Corona, the property is a short walk from Roosevelt Avenue’s commercial and dining corridor. Nearby subway access provides connections to Manhattan and Flushing.

Key Highlights

• Four‑story brick walk‑up built in 2005
• Fully occupied, with rent‑stabilized residential units and two community facility units
• Community facility spaces currently house a religious center and a professional herbal treatment center

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$126,720

Cap Rate

5.30%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,534,400 $2.5M

Cap Rate 7%

$1,810,286 $1.8M

Cap Rate 9%

$1,408,000 $1.4M

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,184 SF

Gross rent

$239.5K $46.20/SF

− Vacancy

−$9.1K −$1.76/SF

EGI

$230.4K $44.44/SF

− OpEx

−$103.7K −$20.00/SF

NOI

$126.7K $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%

$2,534,400

Cap Rate 7%

$1,810,286

Cap Rate 9%

$1,408,000

Alternative Uses

Best Use

Apartment 5plus

$1.81M

$1.58M – $2.11M (±1% cap)

NOI $126,720 @ 7.0% cap · market cap 5.30%

Second Best

Mixed Use

$953.1K

$834.0K – $1.11M (±1% cap)

NOI $66,718 @ 7.0% cap · market cap 2.79%

Theoretical Best

Office A

$3.82M

$3.34M – $4.46M (±1% cap)

NOI $267,519 @ 7.0% cap · market cap 11.19%

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

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open 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

1,056

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

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Frequently Asked Questions

What type of property is this?

Mixed-use property - The fully occupied property combines rent-stabilized residences with two community facility units.

Where is this mixed-use property located?

The property is located at 38-19 99th Street Corona, 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: Four‑story brick walk‑up built in 2005; Fully occupied, with rent‑stabilized residential units and two community facility units; Community facility spaces currently house a religious center and a professional herbal treatment center