Mixed-Use Building with Retail
For Sale
$1,088,000
107-17 Metropolitan Avenue, Forest Hills, NY 11375
Two-level property pairs a ground-floor commercial suite with a renovated studio apartment and finished basement area.
Property Size2,112 SF
Lot Size0.04 Acres
Price / SF$500
Days on Market77
Property Features for 107-17 Metropolitan Avenue
General Information
Standard status
Active
Size
2,112 SF
Lot size
0.04 Acres
Property subtype
Commercial
Zoning
R3-2
Site & Location
Frontage
16 ft
Road Access
Yes
Units
Unit Mix
1 x studio
Multifamily Units
1
Additional Details
Average Monthly Rent
$1,800
Taxes and HOA fees
Annual Taxes
$21,147
Amenities
high ceilings
central air conditioning
half bathroom
finished partial basement
recreation area
Building Details
Building Size
2,112 SF
Year Built
1905
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Mitra Hakimi Realty Group LLC
(718) 268-5588
Listed By:
Mitra Hakimi · License #49HA1019118
(718) 268-5588
Source:
Callexitfirst
Added: Jun 15
Changed: Aug 29
Last Checked: Aug 29 at 2:57PM
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 Mitra Hakimi Realty Group LLC
Investment Insights
Based on property information with market context.
This mixed-use building occupies a 16' x 100' lot and contains 2,176 square feet across a ground-floor commercial area, partial basement, and second-floor studio apartment. The commercial space is vacant and includes high ceilings, central air conditioning, a half bathroom, and direct entry to the finished basement. Basement areas include a recreation room, meter room, and boiler room. The upper-level studio has been renovated and includes a full bathroom.
Located along Metropolitan Avenue in Forest Hills, the property carries R3-2 zoning. The first floor has aluminum cladding, while the second floor is constructed with concrete block. Built in 1905, the building combines commercial and residential components within a compact mixed-use configuration.
Located along Metropolitan Avenue in Forest Hills, the property carries R3-2 zoning. The first floor has aluminum cladding, while the second floor is constructed with concrete block. Built in 1905, the building combines commercial and residential components within a compact mixed-use configuration.
Key Highlights
- 2,176‑square‑foot mixed‑use building on a 16' x 100' lot
- Ground‑floor commercial space is currently vacant
- Renovated second‑floor studio apartment with full bathroom
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
$53,191
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
4.89%
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%
$1,063,820
$1.1M
Cap Rate 7%
$759,871
$759.9K
Cap Rate 9%
$591,011
$591.0K
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
$100.5K $46.20/SF
− Vacancy
−$3.8K −$1.76/SF
EGI
$96.7K $44.44/SF
− OpEx
−$43.5K −$20.00/SF
NOI
$53.2K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
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%
$1,063,820
Cap Rate 7%
$759,871
Cap Rate 9%
$591,011
Alternative Uses
Best Use
Apartment 5plus
$759.9K
$664.9K – $886.5K
NOI $53,191 @ 7.0% cap · market cap 4.89%
Second Best
Retail
$554.9K
$485.5K – $647.4K
NOI $38,842 @ 7.0% cap · market cap 3.57%
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
Property Profile
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level property pairs a ground-floor commercial suite with a renovated studio apartment and finished basement area.
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 mixed‑use building on a 16' x 100' lot; Ground‑floor commercial space is currently vacant; Renovated second‑floor studio apartment with full bathroom
