48-08 108th Street — Sale in Corona, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Corona, NY 11368

Investment Figures

Cap rate
6.40%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased offer 48-08 108th Street, a fully rent-stabilized 23-unit multifamily asset in the heart of Corona, Queens, offering a clear, executable business plan rarely found in stabilized product. The property features two on-site cell tower leases (T-Mobile and AT&T) producing approximately $65,000 in annual income. Because telecom infrastructure trades at a materially higher cap rate than rent-stabilized multifamily, a buyer has the option to sell the cell sites separately, significantly reducing basis while retaining the core asset. Additional upside exists through monetizing basement storage and through approximately $120,000 in annual preferential rent, which can be recaptured organically over time through natural lease renewals or tenant turnover. Investment Highlights: • 48-08 108th Street, built in 1929, is a 23-unit multifamily asset, approx. 15,780 SF. • 100% Rent Stabilized Units | Tax Class: 2 | Zoning: R6B • 48-08 108th Street is steps from Flushing Meadows–Corona Park and enjoys close proximity to Forest Hills and Rego Park.

Market Context

This mixed use in Corona, NY is listed for sale. It is offered at an approximate 6.4% capitalization rate, a key benchmark for income-producing mixed use assets. It has been on the market for 100 days. Compare it against other mixed use listings for sale in Corona, NY — view the full market.

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