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Mixed-Use

9927 Corona Ave

99-27 Corona Ave., Queens, NY 11368

Listing Price: $2,250,000

Cap Rate
6.20%
Number of Units
5
Occupancy
100.0%
Price/Unit
$450,000
Price/Gross SF
$489.13
Gross SF
4,600

Investment Overview

Marcus and Millichap is pleased to present a multifamily property located at 9927 Corona Avenue in Corona, NY. The subject property consists of a four story residential apartment building with a gross leasable area ( GLA ) of 4,600 square feet, consisting of three 3 bedroom 2 bath units and one 2 bedroom 2 bath unit situated on a 0.05 acre (2,309 SQFT) lot. The subject property can be found along Corona Avenue travelled by over 10,383 vehicles per day between 102nd St and 99th St and is located approximately 1.0 mile north off exit 22A of I-495 Long Island Expressway west bound travelled by over 196,445 vehicles per day. The property is in an area with a population of over 505,782 people living within a 2-mile radius and 1,954,458 people living within a 5-mile radius with an average household income of over $89,000 within a 2-mile radius and $98,000 within a 5-mile radius. Situated in the heart of Queens, the property is surrounded by 2-4 story multifamily housing both east and west alongcorona avenue and an assortment of apartment buildings to the south between the subject property and the I-495 Long Island Expressway. To the North along National Street you will find mixed use residential buildings with retail storefronts, supermarkets, and local restaurants leading up to Roosevelt Avenue where there is an assortment of outdoor shopping, access to multiple trains and just about anything you need within a few minutes walking distance. To the East along Roosevelt Avenue approximately 1.5 miles from the subject property is access to both the Van Wyck Expressway and Grand Central Parkway, a 5-minute commute to LaGuardia Airport and a 15-minute commute into Manhattan via the Mid-Town Tunnel. Citi Field, the USTA Tennis Center, and the Queens Museum are all accessible from Roosevelt Avenue via the Q48. There is also a Q58 bus stop directly outside of 9927 Corona Avenue and is 4 stops via bus from Broadway which will bring you to the M & R Train at the Grand Avenue/Newtown Station stop exactly 1 mile from the property.

Investment Highlights

  • A Fully Occupied, Income Producing, Multifamily Apartment Building in the Heart of Queens , New York.
  • Opportunity for Value Add by Increasing Below Market Rents, Extending Leases, Converting Non - Conforming Basement Units to Commercial Office or Retail Via As-Is Zoning.
  • Access to Q58 MTA Bus Line Directly Outside of the Subject Property & 4-Minute Drive to 103rd St Corona Station
  • Within Walking Distance to Roosevelt Avenue Shopping, Ideal Supermarket Across The Street & Laundromat Next Door.
  • Close Proximity to I495 Expressway, Grand Central Parkway, & Van Wyck Expressway. Close attractions include Citi Field, The US Tennis Center, Flushing Meadow Park and The Queens Museum.

Exclusively Listed By

  • Steven J. Siegel

    Licensed Associate Real Estate Broker

    (212) 430-5166

    Email Steven

    License(s): NY: 30SI0857139, NJ: 0015107, CT: REB.0754170

    Manhattan

Financing By

Listing Price: $2,250,000

Cap Rate
6.20%
Number of Units
5
Occupancy
100.0%
Price/Unit
$450,000
Price/Gross SF
$489.13
Gross SF
4,600

Investment Highlights

  • A Fully Occupied, Income Producing, Multifamily Apartment Building in the Heart of Queens , New York.
  • Opportunity for Value Add by Increasing Below Market Rents, Extending Leases, Converting Non - Conforming Basement Units to Commercial Office or Retail Via As-Is Zoning.
  • Access to Q58 MTA Bus Line Directly Outside of the Subject Property & 4-Minute Drive to 103rd St Corona Station
  • Within Walking Distance to Roosevelt Avenue Shopping, Ideal Supermarket Across The Street & Laundromat Next Door.
  • Close Proximity to I495 Expressway, Grand Central Parkway, & Van Wyck Expressway. Close attractions include Citi Field, The US Tennis Center, Flushing Meadow Park and The Queens Museum.

Investment Overview

Marcus and Millichap is pleased to present a multifamily property located at 9927 Corona Avenue in Corona, NY. The subject property consists of a four story residential apartment building with a gross leasable area ( GLA ) of 4,600 square feet, consisting of three 3 bedroom 2 bath units and one 2 bedroom 2 bath unit situated on a 0.05 acre (2,309 SQFT) lot. The subject property can be found along Corona Avenue travelled by over 10,383 vehicles per day between 102nd St and 99th St and is located approximately 1.0 mile north off exit 22A of I-495 Long Island Expressway west bound travelled by over 196,445 vehicles per day. The property is in an area with a population of over 505,782 people living within a 2-mile radius and 1,954,458 people living within a 5-mile radius with an average household income of over $89,000 within a 2-mile radius and $98,000 within a 5-mile radius. Situated in the heart of Queens, the property is surrounded by 2-4 story multifamily housing both east and west alongcorona avenue and an assortment of apartment buildings to the south between the subject property and the I-495 Long Island Expressway. To the North along National Street you will find mixed use residential buildings with retail storefronts, supermarkets, and local restaurants leading up to Roosevelt Avenue where there is an assortment of outdoor shopping, access to multiple trains and just about anything you need within a few minutes walking distance. To the East along Roosevelt Avenue approximately 1.5 miles from the subject property is access to both the Van Wyck Expressway and Grand Central Parkway, a 5-minute commute to LaGuardia Airport and a 15-minute commute into Manhattan via the Mid-Town Tunnel. Citi Field, the USTA Tennis Center, and the Queens Museum are all accessible from Roosevelt Avenue via the Q48. There is also a Q58 bus stop directly outside of 9927 Corona Avenue and is 4 stops via bus from Broadway which will bring you to the M & R Train at the Grand Avenue/Newtown Station stop exactly 1 mile from the property.

Exclusively Listed By

  • Steven J. Siegel

    Licensed Associate Real Estate Broker

    (212) 430-5166

    Email Steven

    License(s): NY: 30SI0857139, NJ: 0015107, CT: REB.0754170

    Manhattan

Financing By

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