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    37-17 108 St Queens, NY 11368

    Sponsored
    For Sale
    $3,000,000

    High-yield multifamily building, excellent ROI.

    Property size:
    15,068 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Exceptional investment opportunity in Corona, Queens, presents a remarkable stabilized mixed-use building. This property boasts two four-story buildings, totaling 15,068 square feet, constructed in 2008. The buildings sit on a 5,000 square foot lot and are zoned R6B/C1-4. The property features 16 units, including 14 rent-stabilized residential units and two ground-floor commercial spaces, currently enjoying 100% occupancy. The substantial net operating income (NOI) stands at $282,172, yielding an attractive 9.41% cap rate. This represents a strong pro-forma cap rate as well, indicating a stable and predictable income stream. The asking price is $3,000,000. This well-maintained property offers a compelling combination of residential and commercial income, making it an ideal addition to any investor's portfolio. The property's strong performance and prime location in Corona, Queens, ensure a secure and profitable investment. The building's size and layout provide ample opportunity for future growth and value appreciation. This is a rare opportunity to acquire a high-performing, mixed-use asset in a thriving market.

    Property Features for 37-17 108 St

    General Information

    Property type
    Multifamily properties
    Square Feet
    15,068 SF

    Building Details

    Year Built
    2008
    Buildings
    2
    Stories
    4
    Units
    16

    HighLights

    • Exceptional investment opportunity: stabilized mixed‑use building in Corona, Queens.
    • Two four‑story buildings totaling 15,068 square feet on a 5,000 square foot lot, built in 2008.
    • R6B/C1‑4 zoning.
    • 16 units: 14 rent‑stabilized residential, 2 ground‑floor commercial; 100% occupancy.
    • $282,172 NOI, 9.41% cap rate.
    • Asking price: $3,000,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Queens
    County
    Queens
    State
    New York
    Longitude
    -73.860219952949
    Latitude
    40.753512285492

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    FAQs

    What type of property is this?
    Multifamily property - High-yield multifamily building, excellent ROI.
    Where is this multifamily property located?
    The property is located at 37-17 108 St Queens, NY.
    What is the asking price?
    The asking price for this property is $3,000,000.
    What are key features of this property?
    This property features: Exceptional investment opportunity: stabilized mixed-use building in Corona, Queens.; Two four-story buildings totaling 15,068 square feet on a 5,000 square foot lot, built in 2008.; R6B/C1-4 zoning.
    Request Owner's contact information
    37-17 108 St Queens, NY 11368
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    Queens, NY 11368
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    37-17 108 St Queens, NY 11368
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