Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    90-20 Corona Ave Elmhurst, NY 11373
    Back to Search
    Property profile & analytics

    90-20 Corona Ave, Elmhurst, NY 11373

    View on Map
    • Retail properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 90-20 Corona Ave

    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional Elmhurst investment opportunity presents a fully occupied, mixed-use building spanning two lots at 90-02 - 90-20 Corona Avenue, zip code 11373. The property boasts a total of 4,905 square feet, encompassing five retail units (including a grocery store and restaurant) and two residential apartments. Currently generating a substantial net annual income of $138,242, this property is offered at an asking price of $3,900,000, representing a compelling 3.54% cap rate. The building benefits from a long history of stable tenancy, with multi-year leases in place and no vacancies reported in the past 15 years. This presents a low-risk, high-return investment opportunity. The property is zoned C2-3 and R-6B, allowing for a variety of potential uses. The building's strong performance and consistent income stream make it an ideal addition to any investment portfolio. This is an owner/user opportunity. The property is located in New York, NY. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Elmhurst
    County
    Queens
    State
    New York
    Longitude
    -73.8749
    Latitude
    40.7415

    Comparable in this City

    • Value Estimation by Request
      4,572 SF

      40-42 82 St

      Individual retail properties
      40-42 82 St, Queens, NY 11373
      View Details
    • Value Estimation by Request
      16,800 SF

      83-17 Broadway

      Individual retail properties
      83-17 Broadway, Queens, NY 11373
      View Details
    • Value Estimation by Request
      2,776 SF

      87-97 Corona Ave

      Individual retail properties
      87-97 Corona Ave, Queens, NY 11373
      View Details
    • Value Estimation by Request
      4,700 SF

      86-22 Broadway

      Restaurants
      86-22 Broadway, Elmhurst, NY 11373
      View Details
    • Value Estimation by Request

      82-25 Queens Blvd

      Individual retail properties
      82-25 Queens Blvd, Queens, NY 11373
      View Details
    • Value Estimation by Request
      2,172 SF

      82-25 Queens Blvd

      Individual retail properties
      82-25 Queens Blvd, Queens, NY 11373
      View Details

    Similar Nearby for Sale

    • $2,800,000
      0.05 Acres

      Elmhurst Mixed-Use Investment Property

      Four-unit brick building with storefront and apartments in Elmhurst.
      84-38 Grand Ave, Elmhurst, NY 11373
      View Details
    • $1,999,000
      Pending

      Elmhurst Income-Producing Corner Building

      Renovated mixed-use building with retail and residential units.
      85-45 Britton Ave, Elmhurst, NY 11373
      View Details
    • $2,795,000
      1,104 SF

      Elmhurst Mixed-Use Gem

      Mixed-use property with storefront and two oversized residential units.
      5607 Junction Blvd, Elmhurst, NY 11373
      View Details
    • $2,795,000
      1,104 SF

      Elmhurst Mixed-Use Investment Opportunity

      Mixed-use property with storefront and two vacant residential units.
      5607 Junction Blvd, Elmhurst, NY 11373
      View Details
    • Contact for pricing
      Pending

      Mixed-Use Building Near Transportation

      Mixed-use building near subway and retail in Queens.
      40-42 82Nd St, Queens, NY 11373
      View Details

    Similar Nearby for Lease

    • $85 SF/Yr

      Elmhurst Retail Space Available

      16,700 SF retail space in a high-traffic Elmhurst location.
      82-02 45Th Ave, Elmhurst, NY 11373
      View Details
    • Contact for pricing
      800 SF

      Elmhurst Retail Space For Rent

      Retail space for rent near 74th Street train station.
      74-22 Broadway, Elmhurst, NY 11373
      View Details
    • Contact for pricing
      2,000 SF

      Broadway Retail Space For Rent

      Retail space for rent in a busy area near subway.
      83-02 Broadway, Elmhurst, NY 11373
      View Details
    • $4,000 /Mo

      Elmhurst Storefront on Queens Blvd

      High-traffic storefront space suitable for retail, office, or professional services.
      84-05 Queens Blvd, Elmhurst, NY 11373
      View Details
    • $1,400 /Mo

      Prime Retail/Office Space Available

      Highly visible commercial space in the heart of Elmhurst, Queens.
      85-12 Queens Blvd, Elmhurst, NY 11373
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    90-20 Corona Ave
    Elmhurst, NY 11373
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    90-20 Corona Ave, Elmhurst, NY, 11373
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!