Tenant-Occupied
For Sale
$1,339,000
9812 38th Avenue, Corona, NY 11368
Detached two-family property with tenants in place near shops, restaurants, and the 7 train station.
Property Size1,584 SF
Days on Market91
Property Features for 9812 38th Avenue
General Information
Standard status
Active
Size
1,584 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$7,050
Building Details
Building Size
1,584 SF
Year Built
1910
Tenancy
Multi
Listing Agency:
Winzone Realty Inc
Listed By:
Wen Z. Chen · License #10401296348
368
Source:
Barbieliteam
Added: Jun 21
Changed: Sep 18
Last Checked: Sep 19 at 11:12AM
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 Winzone Realty Inc
Investment Insights
Based on property information with market context.
This detached two-family property was built in 1910 and is being offered with tenants in place, as-is. The property is located at 9812 38th Avenue in Corona, New York.
The property is one block from Roosevelt Avenue and two short blocks from the Junction Boulevard 7 train station, with access to nearby shops and restaurants. Showings require 24 hours’ advance notice.
The property is one block from Roosevelt Avenue and two short blocks from the Junction Boulevard 7 train station, with access to nearby shops and restaurants. Showings require 24 hours’ advance notice.
Key Highlights
- Detached two‑family property built in 1910
- Selling with tenants in place, as‑is
- One block to Roosevelt Avenue
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
$38,720
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
2.89%
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%
$774,400
$774.4K
Cap Rate 7%
$553,143
$553.1K
Cap Rate 9%
$430,222
$430.2K
Market Conditions
NOI Build-Up for 1,584 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
$73.2K $46.20/SF
− Vacancy
−$2.8K −$1.76/SF
EGI
$70.4K $44.44/SF
− OpEx
−$31.7K −$20.00/SF
NOI
$38.7K $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%
$774,400
Cap Rate 7%
$553,143
Cap Rate 9%
$430,222
Alternative Uses
Best Use
Apartment 5plus
$553.1K
$484.0K – $645.3K
NOI $38,720 @ 7.0% cap · market cap 2.89%
Second Best
Multifamily LT 5
$374.5K
$327.7K – $437.0K
NOI $26,218 @ 7.0% cap · market cap 1.96%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,742 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
5,556
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Detached two-family property with tenants in place near shops, restaurants, and the 7 train station.
Where is this duplex located?
The property is located at 9812 38th Avenue Corona, NY.
What is the asking price?
The asking price for this property is $1,339,000.
What are key features of this property?
This property features: Detached two‑family property built in 1910; Selling with tenants in place, as‑is; One block to Roosevelt Avenue
