Seven-Unit Brick Apartment
For Sale
$1,699,000
45-12 111 St, Corona, NY 11368
Business Opportunity, Corona, NY
Property Size5,000 SF
Lot Size0.06 Acres
Price / SF$339.80
Days on Market105
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Property Features for 45-12 111 St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Multi-Family
Bathrooms
16
Full bathrooms
7
Half bathrooms
9
Rooms
Bathroom 14, Bathroom 7, Bathroom 9, Bathroom 1, Bathroom 5, Bathroom 3, Bathroom 4, Bathroom 8, Bathroom 12, Bathroom 11, Bathroom 15, Bathroom 6, Bathroom 16, Bathroom 2, Bathroom 10, Bathroom 13
Fencing
Fenced
Subdivision
Corona
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
1421
Utilities
Heating system
Natural Gas, Baseboard
Amenities
private balcony
Building Details
Year built
2004
Floors in Building
4
Flooring type
Hardwood, Tile
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 3
Changed: Sep 27
Last Checked: Oct 15 at 4:06PM
MLS# 11866829
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.
This 5,000-square-foot, semi-attached brick apartment building was constructed in 2004 and contains seven residences. The layout includes six one-bedroom, one-bath apartments and one three-bedroom, two-bath apartment with a private balcony. Tile and hardwood flooring, natural-gas baseboard heat, a flat roof, and fenced grounds are among the documented features.
The property is rent-stabilized and benefits from a 25-year 421-a tax exemption scheduled to expire in 2030. Transit access includes the Q23 bus and the 111 Street #7 subway station, with shopping, supermarkets, restaurants, schools, parks, and major highways also identified nearby. The adjacent property at 45-10 111th Street is separately available for sale.
The property is rent-stabilized and benefits from a 25-year 421-a tax exemption scheduled to expire in 2030. Transit access includes the Q23 bus and the 111 Street #7 subway station, with shopping, supermarkets, restaurants, schools, parks, and major highways also identified nearby. The adjacent property at 45-10 111th Street is separately available for sale.
Key Highlights
- Seven‑unit layout with six 1‑bedroom/1‑bath apartments and one 3‑bedroom/2‑bath apartment
- 5,000 square feet on a 0.0574‑acre lot
- Solid brick construction completed in 2004
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
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
Frequently Asked Questions
What type of property is this?
Apartment building - Rent-stabilized multifamily property with a tax exemption scheduled to continue through 2030.
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: Seven‑unit layout with six 1‑bedroom/1‑bath apartments and one 3‑bedroom/2‑bath apartment; 5,000 square feet on a 0.0574‑acre lot; Solid brick construction completed in 2004
