Brick Mixed-Use Property with
For Sale
$1,575,000
103-11 Metropolitan Avenue, Forest Hills, NY 11375
Residential Income, Forest Hills, NY
Property Size2,800 SF
Lot Size0.05 Acres
Price / SF$562.50
Days on Market114
Property Features for 103-11 Metropolitan Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 3, Bedroom 4, Basement
Window features
Double Pane Windows
Basement
Partially Finished
Lot features
Back Yard, Near Public Transit, Near School, Near Shops
Elementary school
Ps 101 School In The Gardens
Middle school
Jhs 190 Russell Sage
High school
Queens Metropolitan High School
Elementary school district
Queens 28
Middle school district
Queens 28
High school district
Queens 28
Directions
www.googlemaps.com
Standard status
Active
APN
03240-0048
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8658
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Oil
Cooling system
Window Unit(s), Wall/Window Unit(s), Separate Meters, Central Air
Water source
Public
Amenities
backyard
Building Details
Year built
1920
Number of units
3
Flooring type
Hardwood, Tile
Building materials
Brick
Architectural style
Modern, Contemporary
Listing Agency:
NY Metro Realty Group Ltd
(718) 544-2883
Listed By:
Marisa VanWinckle
(347) 267-8000
Added: May 15
Changed: Sep 2
Last Checked: Sep 5 at 2:06PM
MLS# 1000506
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick mixed-use property combines a recently renovated office with two apartments, a full basement, and a backyard. The storefront includes a bathroom and pantry, while hardwood flooring is installed throughout the building. The second-floor apartments are scheduled for vacant delivery. The lower-level basement area is currently used by the first-floor tenant.
Located on Metropolitan Avenue in Forest Hills, the property has a 2,800-square-foot building area on a 2,043-square-foot lot. The building measures 20 x 70, and the lot measures 20 x 102.17. Built in 1920, the property is zoned R3-2 and includes public water and public sewer. Separate meters are provided for cooling systems, and tenant utility responsibilities vary by occupancy.
Located on Metropolitan Avenue in Forest Hills, the property has a 2,800-square-foot building area on a 2,043-square-foot lot. The building measures 20 x 70, and the lot measures 20 x 102.17. Built in 1920, the property is zoned R3-2 and includes public water and public sewer. Separate meters are provided for cooling systems, and tenant utility responsibilities vary by occupancy.
Key Highlights
- 2,800‑square‑foot mixed‑use building on a 2,043‑square‑foot lot
- Recently renovated office plus 2 apartments
- Full basement and backyard included
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$92,187
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,843,740
$1.8M
Cap Rate 7%
$1,316,957
$1.3M
Cap Rate 9%
$1,024,300
$1.0M
Market Conditions
NOI Build-Up for 2,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$141.1K $50.40/SF
− Vacancy
−$18.2K −$6.50/SF
EGI
$122.9K $43.90/SF
− OpEx
−$30.7K −$10.97/SF
NOI
$92.2K $32.92/SF
Area
Queens County, NY
Vacancy
12.90%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,843,740
Cap Rate 7%
$1,316,957
Cap Rate 9%
$1,024,300
Alternative Uses
Best Use
Office B
$1.32M
$1.15M – $1.54M
NOI $92,187 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$977.8K
$855.6K – $1.14M
NOI $68,444 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$2.06M
$1.81M – $2.41M
NOI $144,493 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,467
Businesses Nearby
Explore this area
Business Placement
Demographics for 11375, NY
72,851
Population
35,415
Households
2.1
Avg Household Size
43
Median Age
61%
College-Educated
93%
High-School Grad
2.4 sq mi
ZIP Area
30,355
Density / Sq Mi
$104,319
Median Household Income
$75,149
Median Earnings
$2,126
Median Rent
$572,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated office space accompanies two apartments, a full basement, and a backyard in a brick building.
Where is this mixed-use property located?
The property is located at 103-11 Metropolitan Avenue Forest Hills, NY.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: 2,800‑square‑foot mixed‑use building on a 2,043‑square‑foot lot; Recently renovated office plus 2 apartments; Full basement and backyard included
