Mixed-Use Duplex With Finished
For Sale
$1,250,000
Pending
6728 Forest Ave, Ridgewood, NY 11385
MULTI_FAMILY - Ridgewood, NY
Property Size2,100 SF
Lot Size0.05 Acres
Days on Market95
Property Features for 6728 Forest Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 6, Bedroom 5, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 4, Basement, Bathroom 3, Bedroom 2, Bedroom 3
Interior features
First Floor Bedroom, First Floor Full Bath, High Ceilings
Basement
Finished
Elementary school
Ps 153 Maspeth Elementary
Middle school
Call Listing Agent
High school
Contact Agent
Elementary school district
Queens 24
Middle school district
Contact Agent
High school district
Contact Agent
Directions
google map
Standard status
Pending
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5205
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1930
Number of units
1
Building materials
Brick, Frame
Listing Agency:
Winzone Realty Inc
(718) 899-7000
Listed By:
Jenny A. Aguero Rios
(347) 603-3490
Added: May 6
Changed: Aug 4
Last Checked: Aug 8 at 10:06AM
MLS# 995709
Copyright © 2026 OneKey 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 semi-detached two-family duplex offers flexible residential and commercial possibilities. The home is arranged with approximately 2,100 sq ft of living space across 11 bright rooms, including six bedrooms and three full bathrooms, plus a spacious finished basement. Natural light supports a practical layout suited to both everyday living and adaptable work needs.
The first floor includes flexible mixed-use potential, with residential and commercial use allowed under R5B/C1-4 zoning. The second floor features a spacious residential apartment, suitable for owner occupancy or rental use. The property is delivered vacant.
Built in 1930, the structure is constructed with brick and frame elements and serviced by natural gas heating with hot water heat. Cooling is provided via wall/window unit(s). Public water and public sewer are available. The property sits on a 22.67 x 84.08 IRR lot with building dimensions of 18 x 52.
Conveniently, it is located just steps from the M & L trains and multiple bus lines, including Q39, Q58, B13, B20, Q98, and Q55, with nearby retail, dining, and places of worship.
The first floor includes flexible mixed-use potential, with residential and commercial use allowed under R5B/C1-4 zoning. The second floor features a spacious residential apartment, suitable for owner occupancy or rental use. The property is delivered vacant.
Built in 1930, the structure is constructed with brick and frame elements and serviced by natural gas heating with hot water heat. Cooling is provided via wall/window unit(s). Public water and public sewer are available. The property sits on a 22.67 x 84.08 IRR lot with building dimensions of 18 x 52.
Conveniently, it is located just steps from the M & L trains and multiple bus lines, including Q39, Q58, B13, B20, Q98, and Q55, with nearby retail, dining, and places of worship.
Key Highlights
- R5B/C1‑4 zoning allows residential and commercial use on the first floor
- Delivered vacant semi‑detached two‑family duplex
- Approximately 2,100 sq ft with 11 rooms, 6 bedrooms, and 3 full bathrooms
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
$69,140
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
5.53%
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%
$1,382,800
$1.4M
Cap Rate 7%
$987,714
$987.7K
Cap Rate 9%
$768,222
$768.2K
Market Conditions
NOI Build-Up for 2,100 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
$105.8K $50.40/SF
− Vacancy
−$13.7K −$6.50/SF
EGI
$92.2K $43.90/SF
− OpEx
−$23.0K −$10.97/SF
NOI
$69.1K $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%
$1,382,800
Cap Rate 7%
$987,714
Cap Rate 9%
$768,222
Alternative Uses
Best Use
Office B
$987.7K
$864.3K – $1.15M
NOI $69,140 @ 7.0% cap · market cap 5.53%
Second Best
Apartment 5plus
$733.3K
$641.7K – $855.6K
NOI $51,333 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$1.55M
$1.35M – $1.81M
NOI $108,370 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,373
Businesses Nearby
Explore this area
Business Placement
Demographics for 11385, NY
100,883
Population
40,175
Households
2.5
Avg Household Size
36
Median Age
34%
College-Educated
84%
High-School Grad
3.6 sq mi
ZIP Area
28,023
Density / Sq Mi
$87,365
Median Household Income
$47,335
Median Earnings
$1,959
Median Rent
$842,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family duplex delivered vacant with R5B/C1-4 zoning for residential and commercial use.
Where is this duplex located?
The property is located at 6728 Forest Ave Ridgewood, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: R5B/C1‑4 zoning allows residential and commercial use on the first floor; Delivered vacant semi‑detached two‑family duplex; Approximately 2,100 sq ft with 11 rooms, 6 bedrooms, and 3 full bathrooms
