Seven-Unit Brick Apartment
For Sale
$1,699,000
45-10 111 St, Corona, NY 11368
Commercial Sale, Corona, NY
Property Size5,000 SF
Lot Size0.06 Acres
Price / SF$339.80
Days on Market95
Property Features for 45-10 111 St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Multi-Family
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 3, Bathroom 7, Bathroom 5, Bathroom 1, Bathroom 4, Bathroom 2, Bathroom 8, Bathroom 6
Fencing
Fenced
Subdivision
Corona
High school district
NEW YORK CITY GEOGRAPHIC DISTRICT #24
Directions
Google Map
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
Water source
Public
Amenities
private balcony
Building Details
Year built
2004
Floors in Building
4
Flooring type
Hardwood
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
EAST COAST NEW YORK
(718) 428-2900
Listed By:
Millie Hong Hong-Jiao
(917) 974-0992
Added: Jul 14
Changed: Sep 27
Last Checked: Oct 16 at 6:06PM
MLS# 11883690
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.
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Investment Insights
Based on property information with market context.
This 5,000-square-foot semi-attached apartment building contains seven residences: six one-bedroom, one-bath apartments and one three-bedroom, two-bath apartment with a private balcony. Constructed in 2004, the brick property features hardwood flooring, natural-gas baseboard heat, public water, a flat roof, and fencing. The building occupies 0.0574 acres and is rent-stabilized.
A 25-year 421-a tax exemption is scheduled to end in 2030. The property is located at 45-10 111 St in Corona, near the Q23 bus, the 111 Street #7 subway station, shopping, supermarkets, restaurants, schools, parks, and major highways. The neighboring property at 45-12 111th Street is also offered for sale, providing an option to evaluate the buildings individually or together.
A 25-year 421-a tax exemption is scheduled to end in 2030. The property is located at 45-10 111 St in Corona, near the Q23 bus, the 111 Street #7 subway station, shopping, supermarkets, restaurants, schools, parks, and major highways. The neighboring property at 45-12 111th Street is also offered for sale, providing an option to evaluate the buildings individually or together.
Key Highlights
- Seven‑unit apartment building with six 1‑bedroom/1‑bath units and one 3‑bedroom/2‑bath unit
- 5,000 square feet on a 0.0574‑acre lot
- Built in 2004 with brick construction and hardwood flooring
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.
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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
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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 apartment mix, private balcony, and convenient transit access in Corona.
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 six 1‑bedroom/1‑bath units and one 3‑bedroom/2‑bath unit; 5,000 square feet on a 0.0574‑acre lot; Built in 2004 with brick construction and hardwood flooring
