MLS#1031301
STATUSActive
PROPERTY TYPECommercial -
SCHOOLContact Agent
Property Description
Excellent Investment OpportunityPrime location with strong appreciation potential as the nearby casino development moves forward.All units rented at market rates.Property DetailsLot Size: 25' 100'Building Size: 25' 51' (Approx. 5,294 SF)Built in 2018Zoning: R6Unit Mix6 Two-Bedroom / One-Bath units2 One-Bedroom / One-Bath unitsA neighboring building with the same layout has already been converted into 8 individual condominium units, generating an estimated $3 million in net profit.Separate Utilities8 Water Meters8 Gas Meters9 Electric Meters8 Heating Systems8 Hot Water HeatersInvestment HighlightsFully occupied with excellent tenantsRent receipts available (no written leases)Potential for future rent increasesAnnual Gross Income: Approx. $210,000Estimated Cap Rate: 5% - 6%Outstanding LocationJust a 2-block walk to the bustling Roosevelt Avenue / 7 Train station.Close to supermarkets, restaurants, Citi Field, and numerous neighborhood amenities.
Property Features
Property Type: Commercial -
Basement: Partial
Basement: Yes
Cooling: Electric
Heating: Natural Gas
Lot Size: 0.06 Acres
Taxes: $44,424
Year Built: 2018
Feature Descriptions
Building Area Total: 5464
Exterior: Brick
On Market Date: 2026-07-27
Parcel Number: 01785-0020
Parking Features: None
Rental Term: Monthly
Sewer: Public Sewer
Units: 8
Utilities: See Remarks
Water: Public
Local Schools
School District: Contact Agent
Listed By / Shown By
Listing By
Agency Name: E Realty International Corp
Agency Contact: 718-886-8110
Shown By
Agent Name: Marsha Duke
Agent Phone: (347) 229-5604
Agency Title: Coldwell Banker American Homes
112-42 38 Avenue | MLS# 1031301
This commercial property located at 112-42 38 Avenue , Corona, NY 11368 is currently listed for sale with an asking price of $2,880,000. 112-42 38 Avenue is located within the Contact Agent school district. Search Corona real estate on marshaduke.cbamhomes.com today.