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Elmhurst Mixed-Use Building For Sale

40-10 Forley St, Elmhurst, NY 11373

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For Sale

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Three-story commercial building with residential unit in prime Elmhurst location.

Type:Mixed Use

Property size:

3,568 SF

Price / SF:

$639/SF

HighLights

Prime Elmhurst Location: Steps from the subway with high foot traffic, surrounded by shops and restaurants.
Mixed‑Use Zoning: First and second floors are commercially zoned, offering versatile business opportunities.
Residential Unit: Third floor features a spacious 3‑bedroom apartment for owner occupancy or rental income.
Three Floors Plus Backyard: Versatile layout with ample space for various uses.
Exceptional Investment Opportunity: Ideal for investors, business owners, or mixed‑use property buyers.
Year Built: 1955

We can help!

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Frank Ko

For Sale

Contact for pricing

Three-story commercial building with residential unit in prime Elmhurst location.

Type:Mixed Use

Property size:

3,568 SF

Price / SF:

$639/SF

Added:: May 9, 2024
Days on Market:: 789
Last Refresh:: Jul 5 at 5:31 am

Property Features for 40-10 Forley St

General Information

Standard status: Active
Size: 3,568 SF
Property subtype: Mixed Use

Building Details

Year Built: 1955

We can help!

Contact an agent

Frank Ko

Listing office E Realty International Corp.

Listing date May 9, 2024

Source Crexi

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 E Realty International Corp.

HighLights

Prime Elmhurst Location: Steps from the subway with high foot traffic, surrounded by shops and restaurants.
Mixed‑Use Zoning: First and second floors are commercially zoned, offering versatile business opportunities.
Residential Unit: Third floor features a spacious 3‑bedroom apartment for owner occupancy or rental income.
Three Floors Plus Backyard: Versatile layout with ample space for various uses.
Exceptional Investment Opportunity: Ideal for investors, business owners, or mixed‑use property buyers.
Year Built: 1955

Overview

This commercial building is located in Elmhurst, offering a versatile layout across three floors plus a backyard. The first and second floors are commercially zoned, suitable for businesses, retail, or medical offices. The third floor features a 3-bedroom apartment, ideal for owner occupancy or rental income. Situated steps from the subway, the property benefits from its location in a bustling area surrounded by shops, restaurants, and foot traffic. The property offers opportunities for investors, business owners, or mixed-use property buyers looking to maximize potential in a high-demand area. The building has a property size of 3568 square feet.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$179.8k	$50.40
− Vacancy	−$23.2k	−$6.50
EGI	$156.6k	$43.90
− OpEx	−$39.2k	−$10.97
NOI	$117.5k	$32.92

3,568 SF · lease $50.40/SF/yr · vacancy 12.90% · expense 25.00%

Alternative Uses

Best Use

Office B

$1.68M

$1.47M – $1.96M (±1% cap)

NOI $117,472 @ 7.0% cap · market cap 5.15%

Second Best

Apartment 5plus

$1.25M

$1.09M – $1.45M (±1% cap)

NOI $87,218 @ 7.0% cap · market cap 3.83%

Theoretical Best

Office A

$2.63M

$2.30M – $3.07M (±1% cap)

NOI $184,126 @ 7.0% cap · market cap 8.08%

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

Property Profile Location Intelligence

Current Use by Public Records

Retail space

Suggested Use

Location Insight

Map
Local Demand

City: Elmhurst
County: Queens
State: New York
Longitude: -73.880589
Latitude: 40.747323

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For sale
Mixed-use properties
NY
Elmhurst
11373
40-10 Forley St

What type of property is this?

Mixed-use property - Three-story commercial building with residential unit in prime Elmhurst location.

Where is this mixed-use property located?

The property is located at 40-10 Forley St Elmhurst, NY.

What is the asking price?

The asking price for this property is $2,280,000.

What are key features of this property?

This property features: Prime Elmhurst Location: Steps from the subway with high foot traffic, surrounded by shops and restaurants.; Mixed‑Use Zoning: First and second floors are commercially zoned, offering versatile business opportunities.; Residential Unit: Third floor features a spacious 3‑bedroom apartment for owner occupancy or rental income.