Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    8940 Metropolitan Ave Rego Park, NY 11374

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $4,400,000

    Land for mixed-use or retail development with high visibility.

    Property size:
    36,500 SF
    Lot size:
    0.42 Acres

    Property Features for 8940 Metropolitan Ave

    General Information

    Size
    36,500 SF
    Lot size
    0.42 Acres

    We can help!

    Listing Contact
    Stephen R. Preuss
    Source: Moodyscre

    Listing Agent: Stephen R. Preuss

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Metropolitan Avenue Development Opportunity

    This property offers an opportunity for development, with zoning allowing for approximately 36,500 square feet of mixed-use development or a retail development with parking. The site features nearly 250 feet of wraparound frontage along Metropolitan Avenue and Aubrey Avenue, providing visibility and accessibility near Woodhaven Boulevard. The location is one block from Trader Joe’s, Dick’s Sporting Goods, Home Depot, Michaels, Panera Bread, Panda Express, and other retailers.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Parts Authority Auto Parts Store

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rego Park
    County
    Queens
    State
    New York
    Longitude
    -73.860791
    Latitude
    40.711675

    Nearby Similar for Sale

    • $1,499,999
      0.15 Acres

      Two-Family Home in Rego Park

      Two-family brick home in the heart of Rego Park.
      66-11 Burns St, Rego Park, NY 11374
      View Details
    • $1,425,000
      Pending

      Charming Two-Family Brick Home

      Meticulously maintained two-family home in desirable Rego Park Crescents.
      63-127 Fitchett St, Rego Park, NY 11374
      View Details
    • $1,239,000
      Pending

      Rego Park Two-Family Home

      Two-family home in prime Rego Park location, sold as is.
      68-09 Alderton St, Rego Park, NY 11374
      View Details
    • $1,469,000
      0.09 Acres

      Rego Park Two-Family Residence

      Well-maintained two-family home in desirable Rego Park location.
      65-19 Dieterle Cres, Rego Park, NY 11374
      View Details
    • $1,099,000
      Pending

      Rego Park Two-Family Home

      Two-family home in prime location, sold as-is.
      64-41 Wetherole St, Rego Park, NY 11374
      View Details
    • $250,000

      Commercial Unit in Prewar Building

      Commercial suite in The Virginia, Rego Park, with private entrance.
      98-120 Queens Blvd, Rego Park, NY 11374
      View Details
    • $875,000

      Medical Office in Forest Hills

      Professional medical office in prime Forest Hills location for sale.
      99-45 67Th Rd, Rego Park, NY 11374
      View Details
    • $1,950,000

      Rego Park Community Facility Office

      New community facility office in prime business area.
      65-18 Austin St, Rego Park, NY 11374
      View Details
    • $889,000

      Rego Park Community Facility Office

      New community facility office in prime business area.
      65-18 Austin St, Rego Park, NY 11374
      View Details
    • $998,000

      Rego Park Community Facility Office

      New community facility office in prime business area.
      65-18 Austin St, Rego Park, NY 11374
      View Details
    • $399,000

      Rego Park Commercial Office Unit

      Commercial office unit for sale in prime Rego Park location.
      92-29 Queens Blvd, Rego Park, NY 11374
      View Details
    • $1,650,000

      Dental Business Condo For Sale

      Established dental practice with equipment, furniture, and fixtures included.
      59-04 Junction Blvd, Rego Park, NY 11374
      View Details

    FAQs

    What type of property is this?
    Land - Land for mixed-use or retail development with high visibility.
    Where is this land located?
    The property is located at 8940 Metropolitan Ave Rego Park, NY.
    What is the asking price?
    The asking price for this property is $4,400,000.
    What are key features of this property?
    This property features: - Zoning allows for a ~36,500 ZFA mixed-use development, or a retail development with parking.; - Nearly ~250 of wraparound frontage along Metropolitan Avenue and Aubrey Avenue.; - Exceptional visibility and ease of access just off Woodhaven Boulevard.
    (516) 647-7155
    Request Owner's contact information
    8940 Metropolitan Ave Rego Park, NY 11374
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    8940 Metropolitan Ave
    Rego Park, NY 11374
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    8940 Metropolitan Ave Rego Park, NY 11374
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Stephen R. Preuss
    (516) 647-7155
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.