Building Details

Building Size 3,240 SF

Year Built 1927

Units 4

Listing Agency: CPRE Elite Inc

Listed By: Vivian Lam · License #10301221834 Show Phone

Source: Elliman

Added: Nov 27, 2025 Changed: Aug 8 Last Checked: Aug 8 at 12:40PM

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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 CPRE Elite Inc

Investment Insights

Based on property information with market context.

Located in Corona, Queens, the property at 45-16 108th Street is a multi-family building constructed in 1927. This two-story brick building contains five units and provides 3,240 square feet of living space.

Key Highlights

• Multi‑family property ideal for investment or owner‑occupancy
• Located in Corona, Queens
• Features five spacious units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$79,200

Cap Rate

4.80%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,584,000 $1.6M

Cap Rate 7%

$1,131,429 $1.1M

Cap Rate 9%

$880,000 $880.0K

Market Conditions

NOI Build-Up for 3,240 SF

Gross rent

$149.7K $46.20/SF

− Vacancy

−$5.7K −$1.76/SF

EGI

$144.0K $44.44/SF

− OpEx

−$64.8K −$20.00/SF

NOI

$79.2K $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%

$1,584,000

Cap Rate 7%

$1,131,429

Cap Rate 9%

$880,000

Alternative Uses

Best Use

Apartment 5plus

$1.13M

$990.0K – $1.32M (±1% cap)

NOI $79,200 @ 7.0% cap · market cap 4.80%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.39M

$2.09M – $2.79M (±1% cap)

NOI $167,200 @ 7.0% cap · market cap 10.13%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Law Firm Real Estate Agency Skin Care Clinic Garden Center Carpet & Flooring Store Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Apartment building - Two-story, five-unit multifamily property in Corona, Queens.

Where is this apartment building located?

The property is located at 45-16 108 St Queens, NY.

What is the asking price?

The asking price for this property is $1,650,000.

What are key features of this property?

This property features: Multi‑family property ideal for investment or owner‑occupancy; Located in Corona, Queens; Features five spacious units