Apartment Building with Private
For Sale
$3,950,000
54-14 111th Street, Corona, NY 11368
Income-producing apartment property with leased residences, separate building systems, and supplemental garage and carport income.
Days on Market322
Property Features for 54-14 111th Street
General Information
Standard status
Active
Total Parking Spaces
5
Property subtype
Multi Family
Net Operating Income
$217,433
Financials
Cap Rate
5.5%
Gross Income
$231,000
Additional Details
Multifamily Units
8
Amenities
private balcony
Building Details
Building Size
8,652 SF
Year Built
2013
Buildings
1
Listing Agency:
Tiger Realty
(917) 708-9966
Listed By:
XueYan (Maggie) LI
(917) 708-9966
Source:
Serhant
Added: Sep 15, 2025
Changed: Jul 31
Last Checked: Aug 1 at 11:14AM
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 Tiger Realty
Investment Insights
Based on property information with market context.
Built in 2013, this apartment building in Corona, Queens features apartment residences with private balconies, separate boilers, and separate water heaters. The property includes a four-car detached garage and one carport, providing additional income-producing components. Apartment leases are structured with one-year terms, and the garage and carport are also rented.
The property is located at 54-14 111th Street, Corona, NY 11368. A property tax abatement is in place for the next twelve years, and the asset is reported with a cap rate close to 5.5%.
The property is located at 54-14 111th Street, Corona, NY 11368. A property tax abatement is in place for the next twelve years, and the asset is reported with a cap rate close to 5.5%.
Key Highlights
- Built in 2013
- Private balcony for every unit
- Separate boilers and water heaters
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $399.7k | $46.20 |
| − Vacancy | −$15.2k | −$1.76 |
| EGI | $384.5k | $44.44 |
| − OpEx | −$173.0k | −$20.00 |
| NOI | $211.5k | $24.44 |
8,652 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.02M
$2.64M – $3.52M
NOI $211,493 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.38M
$5.58M – $7.44M
NOI $446,485 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
2,696
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?
Apartment building - Income-producing apartment property with leased residences, separate building systems, and supplemental garage and carport income.
Where is this apartment building located?
The property is located at 54-14 111th Street Corona, NY.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: Built in 2013; Private balcony for every unit; Separate boilers and water heaters
