Prime Corner Property in Forest
For Sale
Contact for pricing
69-47 Austin Street, Forest Hills, NY 11375
Corner property in Forest Hills with high accessibility.
Property Size27,066 SF
Price / SF$495.09
Days on Market802
Property Features for 69-47 Austin Street
General Information
Standard status
Active
Size
27,066 SF
Property subtype
Special Purpose
Zoning
C4-5X, FH
Building Details
Stories
5
Listing Agency:
Meridian Capital Group
Listed By:
Eugene Kim · License #NY 40KI1106013
(646) 502-3483
Source:
Crexi
Added: Aug 15, 2024
Changed: Oct 1
Last Checked: Oct 24 at 4:41PM
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 Meridian Capital Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property at 69-47 Austin Street is a corner property in Forest Hills, New York. It offers 27,066 square feet of space over 5 stories. The site can be delivered vacant. It features 55 feet of frontage along Austin Street and 99 feet along 70th Avenue. The property is located in close proximity to the [E,F,M,R] trains at Forest Hills – 71st Avenue station and the LIRR at Forest Hills station, as well as major thoroughfares. Previously, the property was tenanted by a health club.
Key Highlights
- Prime corner property on Austin Street in Forest Hills, NY.
- 27,066 square feet over 5 stories, offering substantial space.
- Features 55’ of frontage on Austin Street and 99’ along 70th Avenue.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$483,128
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,662,560
$9.7M
Cap Rate 7%
$6,901,829
$6.9M
Cap Rate 9%
$5,368,089
$5.4M
Market Conditions
NOI Build-Up for 27,066 SF
Gross rent
$812.0K $30.00/SF
− Vacancy
−$121.8K −$4.50/SF
EGI
$690.2K $25.50/SF
− OpEx
−$207.1K −$7.65/SF
NOI
$483.1K $17.85/SF
Area
Queens County, NY
Vacancy
15.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,662,560
Cap Rate 7%
$6,901,829
Cap Rate 9%
$5,368,089
Alternative Uses
Best Use
Retail
$6.90M
$6.04M – $8.05M
NOI $483,128 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$19.95M
$17.46M – $23.28M
NOI $1,396,736 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,816
Businesses Nearby
498k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 43%
Apparel 28%
Shops & Services 23%
Groceries 7%
JCPenney
Apparel
137,981 visits/mo
0.4 miles
Olive Garden
Dining
72,662 visits/mo
0.3 miles
Dunkin' Donuts
Dining
41,038 visits/mo
0.3 miles
BP
Shops & Services
32,450 visits/mo
0.2 miles
7-Eleven
Shops & Services
22,657 visits/mo
0.5 miles
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 Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - Corner property in Forest Hills with high accessibility.
Where is this retail space located?
The property is located at 69-47 Austin Street Forest Hills, NY.
What is the asking price?
The asking price for this property is $13,400,000.
What are key features of this property?
This property features: Prime corner property on Austin Street in Forest Hills, NY.; 27,066 square feet over 5 stories, offering substantial space.; Features 55’ of frontage on Austin Street and 99’ along 70th Avenue.
