7-Unit Brick Apartment
For Sale
Contact for pricing
45-10 111 St, Corona, NY 11368
Rent-stabilized multifamily property with a varied unit mix, private balcony, and convenient access to transit, shopping, and daily services.
Property Size2,500 SF
Price / SF$679.60
Days on Market95
Property Features for 45-10 111 St
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Office
Building Details
Year Built
2004
Listing Agency:
EAST COAST NEW YORK INC
Listed By:
Millie Hong-Jiao
(718) 415-4043
Source:
Crexi
Added: Jul 14
Changed: Oct 9
Last Checked: Oct 14 at 8:23PM
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 EAST COAST NEW YORK INC
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Investment Insights
Based on property information with market context.
This 7-unit semi-attached apartment building was constructed in 2004 and features solid brick construction. The layout includes six one-bedroom, one-bath apartments and one larger three-bedroom, two-bath residence with a private balcony. The property is rent-stabilized and benefits from a 25-year 421-a tax exemption scheduled to expire in 2030.
The building is served by the Q23 bus and is near the 111 Street #7 subway station. Shopping, supermarkets, restaurants, schools, parks, and major highways are also located nearby. The neighboring property at 45-12 111th Street is separately available for sale, creating the option to acquire one building or both properties as a package.
The building is served by the Q23 bus and is near the 111 Street #7 subway station. Shopping, supermarkets, restaurants, schools, parks, and major highways are also located nearby. The neighboring property at 45-12 111th Street is separately available for sale, creating the option to acquire one building or both properties as a package.
Key Highlights
- 7‑unit semi‑attached apartment building built in 2004
- Six 1‑bedroom/1‑bath apartments plus one 3‑bedroom/2‑bath apartment
- Private balcony attached to the 3‑bedroom residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,111
Cap Rate
3.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,222,220
$1.2M
Cap Rate 7%
$873,014
$873.0K
Cap Rate 9%
$679,011
$679.0K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$115.5K $46.20/SF
− Vacancy
−$4.4K −$1.76/SF
EGI
$111.1K $44.44/SF
− OpEx
−$50.0K −$20.00/SF
NOI
$61.1K $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%
$1,222,220
Cap Rate 7%
$873,014
Cap Rate 9%
$679,011
Alternative Uses
Best Use
Apartment 5plus
$873.0K
$763.9K – $1.02M
NOI $61,111 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.84M
$1.61M – $2.15M
NOI $129,012 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Rent-stabilized multifamily property with a varied unit mix, private balcony, and convenient access to transit, shopping, and daily services.
Where is this apartment building located?
The property is located at 45-10 111 St Corona, NY.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: 7‑unit semi‑attached apartment building built in 2004; Six 1‑bedroom/1‑bath apartments plus one 3‑bedroom/2‑bath apartment; Private balcony attached to the 3‑bedroom residence
