Mixed-Use Buildings with Food
For Sale
$2,250,000
4505 104th Street, Corona, NY 11368
Two buildings combine one-bedroom apartments with ground-floor café, bakery, and food-production space.
Property Size7,000 SF
Lot Size0.11 Acres
Days on Market151
Property Features for 4505 104th Street
General Information
Standard status
Active
Size
7,000 SF
Total Parking Spaces
1
Elevators
Yes
Lot size
0.11 Acres
Property subtype
Commercial
Zoning
R6B
Units
Unit Mix
8 x 1BR
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$27,428
Amenities
elevator
Building Details
Building Size
7,000 SF
Year Built
2004
Buildings
2
Listing Agency:
E Realty International Corp
(718) 886-8110
Listed By:
Lucy Chen · License #40CH1163296
(718) 886-8110
Source:
Maurafinnegan
Added: Apr 2
Changed: Aug 29
Last Checked: Aug 30 at 5:38PM
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 E Realty International Corp
Investment Insights
Based on property information with market context.
This mixed-use offering includes two buildings, each arranged with four one-bedroom apartments above a ground-floor commercial operation. Together, the residential component totals 8 units, while the commercial areas include a front café and bakery, a bread production area, and a high-ceilinged basement. An elevator connects the commercial space and basement.
The buildings occupy a 50x100 lot with a 40x80 building footprint. The retail and basement areas provide approximately 14,000 square feet of combined usable space. Zoned R6B and built in 2004, the property can be acquired as a combined package or on an individual-building basis.
The buildings occupy a 50x100 lot with a 40x80 building footprint. The retail and basement areas provide approximately 14,000 square feet of combined usable space. Zoned R6B and built in 2004, the property can be acquired as a combined package or on an individual-building basis.
Key Highlights
- Two mixed‑use buildings offered together or individually
- 8 total one‑bedroom apartments across the two buildings
- Approximately 14,000 square feet of combined retail and basement area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$171,111
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.60%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,422,220
$3.4M
Cap Rate 7%
$2,444,443
$2.4M
Cap Rate 9%
$1,901,233
$1.9M
Market Conditions
NOI Build-Up for 7,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$323.4K $46.20/SF
− Vacancy
−$12.3K −$1.76/SF
EGI
$311.1K $44.44/SF
− OpEx
−$140.0K −$20.00/SF
NOI
$171.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,422,220
Cap Rate 7%
$2,444,443
Cap Rate 9%
$1,901,233
Alternative Uses
Best Use
Specialty Retail
$4.63M
$4.05M – $5.40M
NOI $323,978 @ 7.0% cap · market cap 14.40%
Second Best
Apartment 5plus
$2.44M
$2.14M – $2.85M
NOI $171,111 @ 7.0% cap · market cap 7.60%
Theoretical Best
Office A
$5.16M
$4.52M – $6.02M
NOI $361,234 @ 7.0% cap · market cap 16.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
3,946
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two buildings combine one-bedroom apartments with ground-floor café, bakery, and food-production space.
Where is this mixed-use property located?
The property is located at 4505 104th Street Corona, NY.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Two mixed‑use buildings offered together or individually; 8 total one‑bedroom apartments across the two buildings; Approximately 14,000 square feet of combined retail and basement area
