Mixed-Use Building with
For Sale
$1,575,000
Pending
103-11 Metropolitan Avenue, Forest Hills, NY 11375
A renovated office, two apartments, basement space, and a backyard occupy this Forest Hills property.
Property Size2,800 SF
Lot Size0.05 Acres
Days on Market10
Property Features for 103-11 Metropolitan Avenue
General Information
Standard status
Pending
Size
2,800 SF
Lot size
0.05 Acres
Property subtype
Residential Income
Zoning
R3-2
Units
Multifamily Units
2
Office Units
1
Additional Details
Condition
Newly Renovated
Utilities to Site
Yes
Tenant in Place
Yes
Property Use
Mixed-use
Taxes and HOA fees
Annual Taxes
$8,657
Amenities
backyard
Partially Finished
Hardwood,Tile
2
No
Yes
4
Double Pane Windows
Other
Public
2800
Building Details
Building Size
2,800 SF
Year Built
1920
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
(631) 613-8782
Listed By:
Geralda Desir
Source:
Goldcrestrealtygrp
Added: Oct 20
Changed: Oct 28
Last Checked: Oct 28 at 4:06PM
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 Geralda Desir
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Investment Insights
Based on property information with market context.
This brick mixed-use property contains a recently renovated office alongside two apartments. The building totals approximately 2,800 square feet on a 2,043-square-foot lot, with a full basement and backyard. Hardwood flooring is present throughout, and the storefront includes a bathroom and pantry. The apartments on the second floor are to be delivered vacant.
The property is at 103-11 Metropolitan Avenue in Forest Hills. It was built in 1920 and is zoned R3-2. The landlord covers heat, water and sewer, taxes, and insurance; tenants pay electricity and cooking gas.
The property is at 103-11 Metropolitan Avenue in Forest Hills. It was built in 1920 and is zoned R3-2. The landlord covers heat, water and sewer, taxes, and insurance; tenants pay electricity and cooking gas.
Key Highlights
- Brick mixed‑use property with a recently renovated office and two apartments
- Approximately 2,800 square feet of building area on a 2,043‑square‑foot lot
- Second‑floor apartments to be delivered vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,187
Cap Rate
5.85%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
1
Office units
2
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,440
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A renovated office, two apartments, basement space, and a backyard occupy this Forest Hills property.
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: Brick mixed‑use property with a recently renovated office and two apartments; Approximately 2,800 square feet of building area on a 2,043‑square‑foot lot; Second‑floor apartments to be delivered vacant
