5-Family Brick Apartment
40-29 97 Street, Corona, NY 11368
For Sale
$1,430,000
The three-story property includes a basement, a garage, and an additional parking space.
Property Size3,300 SF
Price / SF$433.33
Days on Market304
Property Features for 40-29 97 Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Highway Access
Public Transit
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Units
Construction
Listing Agency:
Block & Lot Services Inc
(718) 762-2288
Listed By:
Yuan Wang
(917) 514-9318
Source:
Clairedleone
Added: Jan 9
Changed: Nov 7
Last Checked: Nov 7 at 4:03PM
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 Block & Lot Services Inc
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Investment Insights
Based on property information with market context.
Built in 1999, this brick apartment building contains five family units across three stories, with a basement, a garage, and one parking space. Its residential configuration offers a combination of apartment space and on-site parking.
The property is one block from Roosevelt Avenue and Junction Boulevard, with access to the 7 train, buses, banks, shops, and restaurants. Schools and parks are also nearby, and major highways are accessible from the area.
The property is one block from Roosevelt Avenue and Junction Boulevard, with access to the 7 train, buses, banks, shops, and restaurants. Schools and parks are also nearby, and major highways are accessible from the area.
Key Highlights
- Five‑family brick apartment building constructed in 1999
- Three stories with a basement
- Includes a garage and one parking space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,667
Cap Rate
5.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,613,340
$1.6M
Cap Rate 7%
$1,152,386
$1.2M
Cap Rate 9%
$896,300
$896.3K
Market Conditions
NOI Build-Up for 3,300 SF
Gross rent
$152.5K $46.20/SF
− Vacancy
−$5.8K −$1.76/SF
EGI
$146.7K $44.44/SF
− OpEx
−$66.0K −$20.00/SF
NOI
$80.7K $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%
$1,613,340
Cap Rate 7%
$1,152,386
Cap Rate 9%
$896,300
Alternative Uses
Best Use
Apartment 5plus
$1.15M
$1.01M – $1.34M
NOI $80,667 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.43M
$2.13M – $2.84M
NOI $170,296 @ 7.0% cap · market cap 11.91%
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
5
Residential units
Yes
Highway access
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
$751,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Corona, NY
Properties on Market for Apartment buildings in Corona
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - The three-story property includes a basement, a garage, and an additional parking space.
Where is this apartment building located?
The property is located at 40-29 97 Street Corona, NY.
What is the asking price?
The asking price for this property is $1,430,000.
What are key features of this property?
This property features: Five‑family brick apartment building constructed in 1999; Three stories with a basement; Includes a garage and one parking space
