10114 39th AvenueCorona, NY 11368

Description

This well-maintained mixed-use investment property offers strong and stable cash flow in a highly convenient neighborhood near public transportation, retail, and dining. The property consists of one medical office on the ground floor and seven residential units, along with additional rooftop lease income, providing diversified income streams for investors. The building layout includes a medical office and one 1-bedroom unit with a large backyard on the first floor, followed by six additional one-bedroom apartments across the second, third, and fourth floors. Each residential floor contains two well-configured 1-bedroom units, making the building efficient to manage and highly rentable in this demand-driven Queens location. The rooftop is currently leased to a telecommunications company, generating additional stable income. The property generates approximately $270,704 in annual gross operating income, with estimated operating expenses of about $26,570, resulting in an attractive Net Operating Income (NOI) of approximately $244,134 annually. Cap 6.42%. Situated between Corona and Flushing, the property benefits from strong rental demand, proximity to major transportation routes, neighborhood retail corridors, and easy access to Manhattan. This is an excellent opportunity for investors seeking a stable income-producing property with upside potential in one of Queens’ most active rental markets.

Property Information

Property type

Commercial Sale

Sub-type

Multi Family

Year built

2012

Building area

6,495 Sq Ft

Lot size

0.06 acres

Days on market

198

MLS^® Listing#

972156

Property Features

Cooling

Wall/Window Unit(s)

Heating

Natural Gas

Basement

Finished · Full

Parking

No Garage · None

Construction

Brick

Utilities

Natural Gas Available · Natural Gas Connected · Sewer Connected · Water Connected

Sewer

Public Sewer

Water source

Public

Schools

Elementary

Contact Agent

Middle

Is 61 Leonardo Da Vinci

High

Newtown High School

Financial Details

Annual taxes

$11,457

Assessed value

$551,700

Parcel number

01770-0020