Seven-Unit Apartment
56-15 Van Cleef Street, Corona, NY 11368
For Sale
$2,760,000
Fully occupied apartment property with modern building systems, dedicated parking, and a basement office.
Property Size5,000 SF
Days on Market54
Property Features for 56-15 Van Cleef Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Sprinkler System
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
E Realty International Corp
Listed By:
Vicky Wei
(646) 651-3858
Source:
Serhant
Added: Sep 17
Changed: Nov 7
Last Checked: Nov 8 at 1:36PM
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
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Investment Insights
Based on property information with market context.
Completed in 2022, this apartment building contains 7 units with a mix of 1 two-bedroom residence and 6 one-bedroom residences. The property also includes a basement office, 9-foot ceilings, a rear yard, and 6 dedicated parking spaces accessed by a curb cut. Building systems include central A/C, 3-phase power, LED lighting, a full sprinkler system, security cameras, and separate meters for each unit. Occupancy is reported at 100%.
The property is located at 56-15 Van Cleef Street in Corona, NY, near the Grand Central Parkway and I-495. Citi Field, Flushing Meadows Corona Park, the Queens Zoo, and the Queens Museum are identified as nearby destinations. The site carries R6B zoning and is positioned within a commercial corridor near Nike, Home Depot, Target, Costco, Macy's, Aldi, and Olive Garden.
The property is located at 56-15 Van Cleef Street in Corona, NY, near the Grand Central Parkway and I-495. Citi Field, Flushing Meadows Corona Park, the Queens Zoo, and the Queens Museum are identified as nearby destinations. The site carries R6B zoning and is positioned within a commercial corridor near Nike, Home Depot, Target, Costco, Macy's, Aldi, and Olive Garden.
Key Highlights
- 100% occupancy across 7 apartment units
- Unit mix includes 1 two‑bedroom and 6 one‑bedroom apartments
- Completed in 2022 with 9' ceilings and central A/C
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,222
Cap Rate
4.43%
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 4.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.69M
$3.23M – $4.30M
NOI $258,024 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
7
Residential units
100%
Occupancy
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,351
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
$751,700
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Corona, NY
Properties on Market for Apartment buildings in Corona
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied apartment property with modern building systems, dedicated parking, and a basement office.
Where is this apartment building located?
The property is located at 56-15 Van Cleef Street Corona, NY.
What is the asking price?
The asking price for this property is $2,760,000.
What are key features of this property?
This property features: 100% occupancy across 7 apartment units; Unit mix includes 1 two‑bedroom and 6 one‑bedroom apartments; Completed in 2022 with 9' ceilings and central A/C
