Triplex with Garage and
New
For Sale
$1,600,000
5915 Xenia Street, Corona, NY 11368
Three residential units include eight bedrooms, separate utility meters, a basement, and a private driveway.
Property Size3,160 SF
Lot Size0.05 Acres
Price / SF$506.33
Days on Market4
Property Features for 5915 Xenia Street
General Information
Standard status
Active
Size
3,160 SF
Lot size
0.05 Acres
Property subtype
Triplex
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$12,135
Amenities
full basement
garage
private driveway
two balconies
Building Details
Building Size
3,160 SF
Year Built
1970
Buildings
1
Listing Agency:
Keller Williams Landmark II
Listed By:
Ronald Ferrara
(347) 450-0153
Source:
Serhant
Added: Sep 22
Changed: Sep 24
Last Checked: Sep 24 at 2:47PM
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 Keller Williams Landmark II
Investment Insights
Based on property information with market context.
Built in 1970, this triplex contains approximately 3,160 square feet across three residential units, with 8 bedrooms, 3 full bathrooms, and 2 half bathrooms. The property sits on a 2,178-square-foot lot and includes a full basement, garage, private driveway, and two balconies. Four separate electric meters and four separate gas meters serve the multi-unit configuration.
The property is on Xenia Street in Corona, Queens, near public transportation.
The property is on Xenia Street in Corona, Queens, near public transportation.
Key Highlights
- Three residential units with 8 bedrooms, 3 full bathrooms, and 2 half bathrooms
- Approximately 3,160 square feet on a 2,178‑square‑foot lot
- Full basement, garage, private driveway, and two balconies
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
$77,244
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
4.83%
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%
$1,544,880
$1.5M
Cap Rate 7%
$1,103,486
$1.1M
Cap Rate 9%
$858,267
$858.3K
Market Conditions
NOI Build-Up for 3,160 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
$146.0K $46.20/SF
− Vacancy
−$5.5K −$1.76/SF
EGI
$140.4K $44.44/SF
− OpEx
−$63.2K −$20.00/SF
NOI
$77.2K $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 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%
$1,544,880
Cap Rate 7%
$1,103,486
Cap Rate 9%
$858,267
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$965.6K – $1.29M
NOI $77,244 @ 7.0% cap · market cap 4.83%
Second Best
Multifamily LT 5
$747.2K
$653.8K – $871.7K
NOI $52,303 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $163,071 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,486
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units include eight bedrooms, separate utility meters, a basement, and a private driveway.
Where is this triplex located?
The property is located at 5915 Xenia Street Corona, NY.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Three residential units with 8 bedrooms, 3 full bathrooms, and 2 half bathrooms; Approximately 3,160 square feet on a 2,178‑square‑foot lot; Full basement, garage, private driveway, and two balconies
