Mixed-Use Property with Studio
For Sale
$1,088,000
107-17 Metropolitan Avenue, Forest Hills, NY 11375
Commercial Sale, Forest Hills, NY
Property Size2,176 SF
Lot Size0.04 Acres
Price / SF$500
Days on Market109
Property Features for 107-17 Metropolitan Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R3-2
Rooms
Basement
Basement
Partially Finished
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
Standard status
Active
APN
03277-0073
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
21147
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Wall/Window Unit(s), Central Air, Window Unit(s)
Water source
Public
Amenities
high ceilings
central air conditioning
half bathroom
finished basement
recreation area
Building Details
Year built
1905
Listing Agency:
Mitra Hakimi Realty Group LLC
(718) 268-5588
Listed By:
Mitra Hakimi · License #49HA1019118
(917) 592-8797
Added: Jun 15
Changed: Sep 28
Last Checked: Oct 1 at 7:06PM
MLS# 1013526
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.
At 107-17 Metropolitan Avenue, this mixed-use building contains 2,176 square feet on a 16' x 100' lot. The ground-floor commercial unit is vacant and includes high ceilings, central air conditioning, a half bathroom, and access to a finished partial basement. Basement areas include a recreation room, meter room, and boiler room. Aluminum cladding covers the first floor, while the second floor is constructed of concrete block.
A renovated studio apartment with a full bathroom occupies the upper level. The property is to be delivered vacant. It is zoned R3-2 and was built in 1905.
A renovated studio apartment with a full bathroom occupies the upper level. The property is to be delivered vacant. It is zoned R3-2 and was built in 1905.
Key Highlights
- 2,176‑square‑foot building on a 16' x 100' lot
- Vacant ground‑floor commercial space with high ceilings, central air conditioning, and a half bathroom
- Finished partial basement with recreation area, meter room, and boiler room
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
$38,842
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
3.57%
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%
$776,840
$776.8K
Cap Rate 7%
$554,886
$554.9K
Cap Rate 9%
$431,578
$431.6K
Market Conditions
NOI Build-Up for 2,176 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
$65.3K $30.00/SF
− Vacancy
−$9.8K −$4.50/SF
EGI
$55.5K $25.50/SF
− OpEx
−$16.6K −$7.65/SF
NOI
$38.8K $17.85/SF
Area
Queens County, NY
Vacancy
15.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
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%
$776,840
Cap Rate 7%
$554,886
Cap Rate 9%
$431,578
Alternative Uses
Best Use
Retail
$554.9K
$485.5K – $647.4K
NOI $38,842 @ 7.0% cap · market cap 3.57%
Second Best
Mixed Use
$400.1K
$350.1K – $466.8K
NOI $28,005 @ 7.0% cap · market cap 2.57%
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,292 @ 7.0% cap · market cap 10.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,440
Businesses Nearby
91k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 62%
Groceries 28%
Dining 9%
Western Beef
Groceries
25,623 visits/mo
0.1 miles
Chase Bank
Shops & Services
17,906 visits/mo
0.3 miles
BP
Shops & Services
14,392 visits/mo
0.3 miles
Sunoco
Shops & Services
10,256 visits/mo
0.2 miles
Citibank
Shops & Services
9,799 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines vacant commercial space with a renovated upper-floor studio and a finished partial basement.
Where is this mixed-use property located?
The property is located at 107-17 Metropolitan Avenue Forest Hills, NY.
What is the asking price?
The asking price for this property is $1,088,000.
What are key features of this property?
This property features: 2,176‑square‑foot building on a 16' x 100' lot; Vacant ground‑floor commercial space with high ceilings, central air conditioning, and a half bathroom; Finished partial basement with recreation area, meter room, and boiler room
