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    Property profile & analytics

    3741 103Rd St Corona, NY 11368

    • Retail residential properties
    • 6,647 SF
    • 0.11 lot acres
    For Sale
    View listing
    $5,400,000
    Last Sale
    Jan 07, 2021
    $3,950,000
    Value Estimations
    Cap Rate Potential
    2%
    Retail residential properties
    Location Intelligence
    Property ID
    US63-4346700
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail residential properties

    Property Details for 3741 103Rd St

    Year built
    1931
    Lot size
    0.11 lot acres
    Property size
    6,647 SF
    Zone code
    R6B
    Property type
    Retail residential properties
    APN
    01769-0083
    APU
    17690083

    Description

    This exceptional investment opportunity presents a remarkable mixed-use property ideally situated on a bustling thoroughfare in Corona, New York. The building boasts a substantial 5,000 square feet of space, intelligently divided to maximize income potential. The ground floor comprises three separate commercial units, perfect for a variety of retail or service businesses, benefiting from the high volume of foot traffic in this vibrant area. Above, the second floor offers six well-appointed residential apartments, providing a consistent stream of rental income. The property's location on 103rd Street in Corona ensures excellent visibility and accessibility, attracting both customers and tenants. This turnkey investment is ready for immediate income generation, offering a compelling return on investment for a savvy buyer. The property sits on a lot with no acreage specified, focusing entirely on the building's substantial square footage and its strategic placement within a high-demand commercial and residential zone. This is a rare chance to acquire a well-established, income-producing property in a thriving Queens neighborhood. The current configuration offers immediate revenue streams, but also presents opportunities for future development or renovation to further enhance profitability. This property is an excellent addition to any portfolio seeking strong cash flow and long-term appreciation. The asking price of $5,400,000 reflects the property's significant value and potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,240,000
      ML approach
      $3,980,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,786,000
      Market price range: $1.92M - $3.38M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,590,000
      Current use
      RETAIL STORES
      $4,925,000
      Change: +90% Conversion: Easy
      OFFICE BUILDING
      $4,525,000
      Change: +75% Conversion: Easy
      WAREHOUSE, STORAGE
      $3,420,000
      Change: +32% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $3,060,000
      Change: +18% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.8636
    Latitude
    40.7522
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $52,192
    $112,500
    $380,250
    $492,750
    -
    $250,000
    $845,000
    $1,095,000

    Comparable in this City

    • Value Estimation
      $420,000
      4,600 SF

      3809 Jct Blvd

      STORE/OFFICE (MIXED USE) • 4,600 SF
      3809 Jct Blvd, Flushing, NY 11368-2153
      View Details
    • Value Estimation
      $295,000
      5,360 SF

      4504 111th St

      STORES & APARTMENTS • 5,360 SF
      4504 111th St, Flushing, NY 11368-5816
      View Details
    • Value Estimation
      $430,000
      32,167 SF

      10312 Northern Blvd

      STORES & APARTMENTS • 32,167 SF
      10312 Northern Blvd, Flushing, NY 11368-1137
      View Details
    • Value Estimation
      $550,000
      24,390 SF

      11206 37th Ave

      STORES & APARTMENTS • 24,390 SF
      11206 37th Ave, Flushing, NY 11368
      View Details
    • Value Estimation by Request
      11,781 SF

      10314 Corona Ave

      STORES & APARTMENTS • 11,781 SF
      10314 Corona Ave, Flushing, NY 11368
      View Details
    • Value Estimation
      $470,000
      4,927 SF

      10205 Roosevelt Ave

      STORES & APARTMENTS • 4,927 SF
      10205 Roosevelt Ave, Flushing, NY 11368-2331
      View Details

    Similar Nearby for Sale

    • $3,999,000

      Northern Blvd Mixed-Use Investment

      Prime Queens location, high occupancy.
      106-15 Northern Blvd, Queens, NY 11368
      View Details
    • $2,350,000
      Pending

      Corona Mixed-Use Investment Opportunity

      Four-story mixed-use property in Corona, NY with strong income.
      38-16 108Th St, Corona, NY 11368
      View Details
    • $1,800,000
      4,000 SF

      Mixed-Use Building on Northern Boulevard

      Three-story mixed-use building in Corona, Queens with commercial and residential units.
      99-12 Northern Blvd, Corona, NY 11368
      View Details
    • $1,980,000
      Pending

      Mixed-Use Building in Corona, NY

      Mixed-use building with commercial and residential units in Corona, Queens.
      40-42 Junction Blvd, Corona, NY 11368
      View Details
    • $1,999,999

      Mixed-Use Five Family Asset

      Well-maintained, fully occupied, cash-flowing mixed-use property in prime Corona.
      102-15 Corona Ave, Flushing, NY 11368
      View Details
    • $1,580,000

      Mixed-Use Building in Corona, NY

      Mixed-use building with retail and residential units in Corona.
      106-16 Corona Ave, Corona, NY 11368
      View Details

    Similar Nearby for Lease

    • $75 SF/Yr
      4,000 SF

      Junction Blvd Retail Space

      4,000 SF Retail Space - Jackson Heights
      38-39 Jct Blvd, New York, NY 11368
      View Details
    • Contact for pricing
      75,000 SF

      Roosevelt Avenue Retail Portfolio

      Queens Retail Space: Multiple Units Available
      0 Roosevelt Ave, Queens, NY 11368
      View Details
    • Contact for pricing
      2,100 SF

      Retail Space in Urban Corridor

      Retail space with high pedestrian traffic near the #7 train.
      3713-3715 Junction Blvd, Corona, NY 11368
      View Details
    • $8,900 /Mo

      Brand New Office Spaces

      New office spaces for lease in Corona, Queens.
      110-72 Corona Ave, Flushing, NY 11368
      View Details
    • $4,200 /Mo

      Retail Store for Rent

      Store for rent suitable for various businesses.
      95-15 Northern Blvd, Queens, NY 11368
      View Details
    • $2,500 /Mo

      Renovated Apartment in Corona, Queens

      Renovated 2-bedroom apartment in prime Corona, Queens location.
      104-44 42Nd Ave, Flushing, NY 11368
      View Details
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    3741 103Rd St
    Corona, NY 11368
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    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
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