7-Unit Brick Apartment
For Sale
$1,699,000
45-10 111 St, Corona, NY 11368
Business Opportunity, Corona, NY
Property Size5,000 SF
Lot Size0.06 Acres
Price / SF$339.80
Days on Market106
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Property Features for 45-10 111 St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Multi-Family
Bedrooms
9
Bathrooms
7
Full bathrooms
7
Rooms
Bedroom 3, Bedroom 4, Bathroom 7, Bedroom 2, Bedroom 5, Bedroom 6, Bathroom 1, Bathroom 5, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 7, Bedroom 8, Bedroom 9, Bathroom 6, Bathroom 2
Fencing
Fenced
Subdivision
Flushing
High school district
NEW YORK CITY GEOGRAPHIC DISTRICT #24
Standard status
Active
Size
5,000 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
11975
Utilities
Heating system
Natural Gas, Baseboard
Building Details
Year built
2004
Floors in Building
4
Flooring type
Hardwood, Tile
Building materials
Brick
Roof type
Asphalt
Architectural style
Other
Listing Agency:
EAST COAST NEW YORK
(718) 428-2900
Listed By:
Millie Hong Hong-Jiao
(917) 974-0992
Added: Jul 2
Changed: Sep 27
Last Checked: Oct 15 at 4:06PM
MLS# 11866825
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2004, this 5,000-square-foot, seven-unit apartment property has solid brick construction and a fenced lot measuring 0.0574 acres. The unit mix includes six one-bedroom, one-bath apartments and one three-bedroom, two-bath residence with a private balcony. Interior finishes include hardwood and tile flooring, while heating is provided by natural gas baseboard systems. The roof is asphalt.
The property is located at 45-10 111 St in Corona, Queens, near the Q23 bus route and the 111 Street #7 subway station. Shopping, supermarkets, restaurants, schools, parks, and major highways are also identified in the surrounding area. Apartments are rent-stabilized, and a 25-year 421-a tax exemption is scheduled to end in 2030.
The property is located at 45-10 111 St in Corona, Queens, near the Q23 bus route and the 111 Street #7 subway station. Shopping, supermarkets, restaurants, schools, parks, and major highways are also identified in the surrounding area. Apartments are rent-stabilized, and a 25-year 421-a tax exemption is scheduled to end in 2030.
Key Highlights
- Seven‑unit apartment building with 5,000 square feet of building area
- Unit mix includes six 1‑bedroom/1‑bath apartments and one 3‑bedroom/2‑bath apartment
- Built in 2004 with solid brick construction and a fenced lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,222
Cap Rate
7.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,444,440
$2.4M
Cap Rate 7%
$1,746,029
$1.7M
Cap Rate 9%
$1,358,022
$1.4M
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$231.0K $46.20/SF
− Vacancy
−$8.8K −$1.76/SF
EGI
$222.2K $44.44/SF
− OpEx
−$100.0K −$20.00/SF
NOI
$122.2K $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%
$2,444,440
Cap Rate 7%
$1,746,029
Cap Rate 9%
$1,358,022
Alternative Uses
Best Use
Apartment 5plus
$1.75M
$1.53M – $2.04M
NOI $122,222 @ 7.0% cap · market cap 7.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.69M
$3.23M – $4.30M
NOI $258,024 @ 7.0% cap · market cap 15.19%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
7
Residential units
Yes
Highway access
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
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 apartments include a private balcony and a mix of one- and three-bedroom layouts.
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: Seven‑unit apartment building with 5,000 square feet of building area; Unit mix includes six 1‑bedroom/1‑bath apartments and one 3‑bedroom/2‑bath apartment; Built in 2004 with solid brick construction and a fenced lot
