Brick Mixed-Use
For Sale
$1,897,000
4010 Forley Street, Elmhurst, NY 11373
Commercial Sale, Elmhurst, NY
Property Size3,060 SF
Lot Size0.05 Acres
Price / SF$619.93
Days on Market72
Property Features for 4010 Forley Street
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Elmhurst
High school district
NEW YORK CITY GEOGRAPHIC DISTRICT #24
Directions
Britton Avenue to Forley Street
Standard status
Active
Size
3,060 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
38172
Utilities
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1955
Floors in Building
3
Listing Agency:
NY SUPERIOR REALTY
(718) 205-7770
Listed By:
Nora Avalos
Added: Jul 14
Changed: Sep 23
Last Checked: Sep 23 at 11:06PM
MLS# 11885517
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,060-square-foot brick mixed-use property was built in 1955 on a 0.0468-acre lot. The first floor contains a medical office, while the second floor provides office space scheduled for vacant delivery. A third-floor three-bedroom apartment is also available for vacant delivery. Two front parking spaces serve the property, and heating is provided by natural gas with public water service.
Located at 4010 Forley Street in Elmhurst, the property is near restaurants, shopping, medical offices, and daily conveniences. Roosevelt Avenue is a few blocks away, with access to the 7 train and Q32 and Q29 bus lines. The combination of medical, office, and residential components supports multiple occupancy configurations within one building.
Located at 4010 Forley Street in Elmhurst, the property is near restaurants, shopping, medical offices, and daily conveniences. Roosevelt Avenue is a few blocks away, with access to the 7 train and Q32 and Q29 bus lines. The combination of medical, office, and residential components supports multiple occupancy configurations within one building.
Key Highlights
- 3,060‑square‑foot mixed‑use building on 0.0468 acres
- Solid brick construction completed in 1955
- First‑floor medical office and second‑floor office space
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
$100,747
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
5.31%
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%
$2,014,940
$2.0M
Cap Rate 7%
$1,439,243
$1.4M
Cap Rate 9%
$1,119,411
$1.1M
Market Conditions
NOI Build-Up for 3,060 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
$154.2K $50.40/SF
− Vacancy
−$19.9K −$6.50/SF
EGI
$134.3K $43.90/SF
− OpEx
−$33.6K −$10.97/SF
NOI
$100.7K $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 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%
$2,014,940
Cap Rate 7%
$1,439,243
Cap Rate 9%
$1,119,411
Alternative Uses
Best Use
Office B
$1.44M
$1.26M – $1.68M
NOI $100,747 @ 7.0% cap · market cap 5.31%
Second Best
Healthcare Medical
$1.01M
$882.0K – $1.18M
NOI $70,557 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$2.26M
$1.97M – $2.63M
NOI $157,911 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
8,506
Businesses Nearby
Explore this area
Business Placement
Demographics for 11373, NY
105,712
Population
34,797
Households
3
Avg Household Size
38
Median Age
30%
College-Educated
75%
High-School Grad
1.5 sq mi
ZIP Area
70,475
Density / Sq Mi
$71,470
Median Household Income
$36,043
Median Earnings
$1,913
Median Rent
$683,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-level building with medical, office, and residential space plus two front parking spaces.
Where is this mixed-use property located?
The property is located at 4010 Forley Street Elmhurst, NY.
What is the asking price?
The asking price for this property is $1,897,000.
What are key features of this property?
This property features: 3,060‑square‑foot mixed‑use building on 0.0468 acres; Solid brick construction completed in 1955; First‑floor medical office and second‑floor office space
