Brick 7-Unit Multifamily
For Sale
Contact for pricing
45-12 111 St, Corona, NY 11368
Well-maintained 7-unit, solid brick semi-attached building with six 1-bedroom units and one 3-bedroom unit.
Property Size2,500 SF
Price / SF$679.60
Days on Market100
Property Features for 45-12 111 St
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Mixed Use
Additional Details
Highway Access
Yes
Multifamily Units
7
Building Details
Year Built
2004
Listing Agency:
EAST COAST NEW YORK INC
Listed By:
Millie Hong-Jiao
(718) 415-4043
Source:
Crexi
Added: Jul 3
Changed: Sep 11
Last Checked: Oct 9 at 8:30PM
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
Investment Insights
Based on property information with market context.
Solid brick semi-attached 7-family apartment building built in 2004 and described as well-maintained. The building contains six 1-bedroom/1-bath apartments and one spacious 3-bedroom/2-bath apartment, including a private balcony. The property is rent-stabilized and benefits from a 25-year 421-a tax exemption scheduled to expire in 2030.
Located in the heart of Corona, the property is near bus service for Q23 and close to the 111 Street #7 subway station. The remarks also indicate proximity to shopping, supermarkets, restaurants, schools, parks, and major highways.
Also noted in the materials is an adjacent property at 45-10 111th Street available for sale, which may allow the purchase of one building individually or both as a package.
Located in the heart of Corona, the property is near bus service for Q23 and close to the 111 Street #7 subway station. The remarks also indicate proximity to shopping, supermarkets, restaurants, schools, parks, and major highways.
Also noted in the materials is an adjacent property at 45-10 111th Street available for sale, which may allow the purchase of one building individually or both as a package.
Key Highlights
- 2004‑built solid brick semi‑attached 7‑family apartment building
- Unit mix: six 1‑bedroom/1‑bath apartments plus one 3‑bedroom/2‑bath apartment with a private balcony
- Rent‑stabilized property with a 25‑year 421‑a tax exemption scheduled to expire in 2030
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.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
7
Residential units
Yes
Highway access
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 7-unit, solid brick semi-attached building with six 1-bedroom units and one 3-bedroom unit.
Where is this apartment building located?
The property is located at 45-12 111 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: 2004‑built solid brick semi‑attached 7‑family apartment building; Unit mix: six 1‑bedroom/1‑bath apartments plus one 3‑bedroom/2‑bath apartment with a private balcony; Rent‑stabilized property with a 25‑year 421‑a tax exemption scheduled to expire in 2030
