New Construction Multifamily
For Sale
$1,890,000
43-12 104th St, Queens, NY 11368
New construction multifamily building in Corona, Queens with tax abatement.
Property Size6,010 SF
Lot Size0.06 Acres
Days on Market269
Property Features for 43-12 104th St
General Information
Standard status
Active
Size
6,010 SF
Lot size
0.06 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$960
Building Details
Building Size
6,010 SF
Year Built
2005
Stories
4
Listing Agency:
(917) 708-9966
Listed By:
XueYan (Maggie) LI
(917) 708-9966
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 15
Last Checked: Aug 23 at 11:04AM
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 XueYan (Maggie) LI
Investment Insights
Based on property information with market context.
A new construction building located in Corona, Queens, New York is available for purchase. The property benefits from a tax abatement that is good for another 9 years. Each unit features a living room, kitchen, full bathroom, and one bedroom. The building has separate boilers and water heaters for each unit. The gross yearly rent roll is $119,100, with a net of $109,109. A laundry store is located nearby. The investment cap rate is approximately 5.5%.
Key Highlights
- 13 Years Remaining on Tax Abatement
- High Net Yearly Income ($109,109)
- Approximately 5.5% Investment Cap Rate
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$146,911
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.77%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,938,220
$2.9M
Cap Rate 7%
$2,098,729
$2.1M
Cap Rate 9%
$1,632,344
$1.6M
Market Conditions
NOI Build-Up for 6,010 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$277.7K $46.20/SF
− Vacancy
−$10.6K −$1.76/SF
EGI
$267.1K $44.44/SF
− OpEx
−$120.2K −$20.00/SF
NOI
$146.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,938,220
Cap Rate 7%
$2,098,729
Cap Rate 9%
$1,632,344
Alternative Uses
Best Use
Apartment 5plus
$2.10M
$1.84M – $2.45M
NOI $146,911 @ 7.0% cap · market cap 7.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.43M
$3.88M – $5.17M
NOI $310,145 @ 7.0% cap · market cap 16.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,548
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - New construction multifamily building in Corona, Queens with tax abatement.
Where is this apartment building located?
The property is located at 43-12 104th St Queens, NY.
What is the asking price?
The asking price for this property is $1,890,000.
What are key features of this property?
This property features: 13 Years Remaining on Tax Abatement; High Net Yearly Income ($109,109); Approximately 5.5% Investment Cap Rate
