Renovated Triplex with
For Sale
Contact for pricing
57-54 Van Doren Street, Corona, NY 11368
Three apartments offer two- and three-bedroom layouts, separate basement entry, and on-site parking.
Property Size3,391 SF
Lot Size0.07 Acres
Price / SF$545.56
Days on Market57
Property Features for 57-54 Van Doren Street
General Information
Standard status
Active
Size
3,391 SF
Total Parking Spaces
3
Lot size
0.07 Acres
Property subtype
Retail
Zoning
r5
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR, 2 x 3BR/2BA
Multifamily Units
3
Building Details
Year Built
1971
Year Renovated
2018
Buildings
1
Listing Agency:
Landmark International Real Estate
(347) 870-1239
Listed By:
Dongyue Niu · License #10401282827
Source:
Crexi
Added: Jul 6
Changed: Aug 30
Last Checked: Aug 31 at 5:17AM
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 Landmark International Real Estate
Investment Insights
Based on property information with market context.
This triplex includes three residential apartments: a two-bedroom unit on the first floor and two three-bedroom, two-bath units above. The property occupies a 29 × 100-foot lot, with a 21 × 57-foot building and three parking spaces. A separately accessed basement adds functional utility to the layout.
The building was constructed in 1971 and fully renovated in 2018. Improvements include a replaced electrical line, along with a new roof, sewer line, and heating system completed in 2025. All units have been occupied by paying tenants since 2018, and none currently have leases.
The property is near Corona Park, 495 Highway, and the Q88 bus route, which provides service toward downtown Flushing and Queens Center Mall. Zoning is R5.
The building was constructed in 1971 and fully renovated in 2018. Improvements include a replaced electrical line, along with a new roof, sewer line, and heating system completed in 2025. All units have been occupied by paying tenants since 2018, and none currently have leases.
The property is near Corona Park, 495 Highway, and the Q88 bus route, which provides service toward downtown Flushing and Queens Center Mall. Zoning is R5.
Key Highlights
- Triplex with one 2‑bedroom unit and two 3‑bedroom, 2‑bath units
- 29 × 100‑foot lot with a 21 × 57‑foot building
- Three parking spaces and a separate basement entrance
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
$82,891
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
4.48%
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%
$1,657,820
$1.7M
Cap Rate 7%
$1,184,157
$1.2M
Cap Rate 9%
$921,011
$921.0K
Market Conditions
NOI Build-Up for 3,391 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
$156.7K $46.20/SF
− Vacancy
−$6.0K −$1.76/SF
EGI
$150.7K $44.44/SF
− OpEx
−$67.8K −$20.00/SF
NOI
$82.9K $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%
$1,657,820
Cap Rate 7%
$1,184,157
Cap Rate 9%
$921,011
Alternative Uses
Best Use
Apartment 5plus
$1.18M
$1.04M – $1.38M
NOI $82,891 @ 7.0% cap · market cap 4.48%
Second Best
Multifamily LT 5
$801.8K
$701.6K – $935.5K
NOI $56,127 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$2.50M
$2.19M – $2.92M
NOI $174,992 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three apartments offer two- and three-bedroom layouts, separate basement entry, and on-site parking.
Where is this triplex located?
The property is located at 57-54 Van Doren Street Corona, NY.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Triplex with one 2‑bedroom unit and two 3‑bedroom, 2‑bath units; 29 × 100‑foot lot with a 21 × 57‑foot building; Three parking spaces and a separate basement entrance
