Renovated Two-Unit
New
For Sale
$1,180,000
64-16 110th Street, Forest Hills, NY 11375
Separate boilers and hot water heaters serve the two apartments.
Property Size1,700 SF
Days on Market4
Property Features for 64-16 110th Street
General Information
Standard status
Active
Size
1,700 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$10,726
Building Details
Building Size
1,700 SF
Year Built
1950
Listing Agency:
Mitra Hakimi Realty Group LLC
Listed By:
Mitra Hakimi · License #49HA1019118
(718) 268-5588
Source:
Barbieliteam
Added: Sep 28
Changed: Sep 30
Last Checked: Sep 30 at 3:34PM
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 brick, semi-attached duplex is configured as a legal two-family residence, with two renovated apartments, each offering two bedrooms. The first-floor home includes a living room, eat-in kitchen, two bedrooms, and a full bath. Its finished basement adds two rooms, a half bath, and laundry space. The second-floor apartment has a living room, eat-in kitchen, two bedrooms, and a full bath. Each unit has its own boiler and hot water heater. A private terrace connects to the first-floor kitchen, and a private driveway provides on-site parking.
The building measures approximately 1,700 square feet, with a stated 25 x 34 footprint, and was built in 1950. Subway and bus service, 108th Street shopping, the LIE, Grand Central Parkway, and Van Wyck Expressway are nearby. The property may be delivered vacant.
The building measures approximately 1,700 square feet, with a stated 25 x 34 footprint, and was built in 1950. Subway and bus service, 108th Street shopping, the LIE, Grand Central Parkway, and Van Wyck Expressway are nearby. The property may be delivered vacant.
Key Highlights
- Legal two‑family brick duplex with two renovated two‑bedroom apartments
- Approximately 1,700 square feet; 25 x 34 building footprint
- First‑floor apartment includes finished basement with two rooms, half bath, and laundry
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
$41,556
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
3.52%
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%
$831,120
$831.1K
Cap Rate 7%
$593,657
$593.7K
Cap Rate 9%
$461,733
$461.7K
Market Conditions
NOI Build-Up for 1,700 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
$78.5K $46.20/SF
− Vacancy
−$3.0K −$1.76/SF
EGI
$75.6K $44.44/SF
− OpEx
−$34.0K −$20.00/SF
NOI
$41.6K $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%
$831,120
Cap Rate 7%
$593,657
Cap Rate 9%
$461,733
Alternative Uses
Best Use
Apartment 5plus
$593.7K
$519.5K – $692.6K
NOI $41,556 @ 7.0% cap · market cap 3.52%
Second Best
Multifamily LT 5
$402.0K
$351.7K – $469.0K
NOI $28,138 @ 7.0% cap · market cap 2.38%
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,728 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
856
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Separate boilers and hot water heaters serve the two apartments.
Where is this duplex located?
The property is located at 64-16 110th Street Forest Hills, NY.
What is the asking price?
The asking price for this property is $1,180,000.
What are key features of this property?
This property features: Legal two‑family brick duplex with two renovated two‑bedroom apartments; Approximately 1,700 square feet; 25 x 34 building footprint; First‑floor apartment includes finished basement with two rooms, half bath, and laundry
