Chinese Restaurant
New
For Sale
$980,000
102-30 Queens Blvd #3, Forest Hills, NY 11374
Existing restaurant operation may remain or the premises may be delivered vacant at closing.
Property Size1,000 SF
Days on Market6
Property Features for 102-30 Queens Blvd #3
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$24,233
Building Details
Building Size
1,000 SF
Tenancy
Single
Listing Agency:
Top Pro Realty Inc
(917) 517-6265
Listed By:
Xiaoling Li
(917) 517-6265
Source:
Cohenandcohenrealty
Added: Aug 14
Changed: Aug 18
Last Checked: Aug 18 at 10:12AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Top Pro Realty Inc
Investment Insights
Based on property information with market context.
This commercial storefront is currently occupied by a Chinese restaurant business. The premises may be delivered vacant at closing, providing flexibility regarding the property's occupancy status.
The property is located at 102-30 Queens Blvd #3 in Forest Hills, NY 11374.
The property is located at 102-30 Queens Blvd #3 in Forest Hills, NY 11374.
Key Highlights
- Currently occupied by a Chinese restaurant business
- May be vacant at closing
- Located at 102‑30 Queens Blvd #3, Forest Hills, NY 11374
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
$46,283
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
4.72%
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%
$925,660
$925.7K
Cap Rate 7%
$661,186
$661.2K
Cap Rate 9%
$514,256
$514.3K
Market Conditions
NOI Build-Up for 1,000 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
$66.0K $66.00/SF
− Vacancy
−$4.3K −$4.29/SF
EGI
$61.7K $61.71/SF
− OpEx
−$15.4K −$15.43/SF
NOI
$46.3K $46.28/SF
Area
Queens County, NY
Vacancy
6.50%
Lease Rate
$66.00 /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%
$925,660
Cap Rate 7%
$661,186
Cap Rate 9%
$514,256
Alternative Uses
Best Use
Specialty Retail
$661.2K
$578.5K – $771.4K
NOI $46,283 @ 7.0% cap · market cap 4.72%
Second Best
Retail
$255.0K
$223.1K – $297.5K
NOI $17,850 @ 7.0% cap · market cap 1.82%
Theoretical Best
Office A
$737.2K
$645.1K – $860.1K
NOI $51,605 @ 7.0% cap · market cap 5.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,067
Businesses Nearby
257k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 36%
Dining 24%
Apparel 12%
Beauty & Spa 11%
Citibank
Shops & Services
32,744 visits/mo
0.4 miles
Sephora
Beauty & Spa
20,831 visits/mo
0.5 miles
Paris Baguette
Dining
19,621 visits/mo
0.4 miles
Starbucks
Dining
19,072 visits/mo
0.2 miles
TD Bank
Shops & Services
16,948 visits/mo
0.5 miles
Demographics for 11374, NY
47,129
Population
21,197
Households
2.2
Avg Household Size
43
Median Age
51%
College-Educated
90%
High-School Grad
0.9 sq mi
ZIP Area
52,366
Density / Sq Mi
$86,333
Median Household Income
$58,309
Median Earnings
$1,957
Median Rent
$484,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Existing restaurant operation may remain or the premises may be delivered vacant at closing.
Where is this conventional restaurant located?
The property is located at 102-30 Queens Blvd #3 Forest Hills, NY.
What is the asking price?
The asking price for this property is $980,000.
What are key features of this property?
This property features: Currently occupied by a Chinese restaurant business; May be vacant at closing; Located at 102‑30 Queens Blvd #3, Forest Hills, NY 11374
