10114 39th Avenue, Corona, NY 11368 (MLS # 972156)

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PRICE $3,800,000 SIZE 6,495 sqft LOT SIZE 2,501 sqft Request More Info Schedule a Showing

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.