Prime Corner Property in Forest
69-47 Austin St Queens, NY 11375
For Sale
Contact for pricing
Corner property in Forest Hills with high accessibility.
Property Size27,066 SF
Price / SF$495.09
Days on Market709
Property Features for 69-47 Austin St
General Information
- Standard status
- Active
- Size
- 27,066 SF
- Property subtype
- Retail
Listing Agency:
Meridian Capital Group
(646) 502-3481
Listed By:
Eugene Kim · License #NY 40KI1106013
Source:
Crexi
Added: Aug 15, 2024
Changed: Jul 10
Last Checked: Jul 23 at 4:37PM
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
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 For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $812.0k | $30.00 |
| − Vacancy | −$121.8k | −$4.50 |
| EGI | $690.2k | $25.50 |
| − OpEx | −$207.1k | −$7.65 |
| NOI | $483.1k | $17.85 |
27,066 SF · lease $30.00/SF/yr · vacancy 15.00% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Isalis
(Bike/Boat/Book/etc) Store
Party City
Party Supply Store
Skunk Funk
Big Box & Wholesale Store
Carl's Trading Co
Hat Shop
Bushka's Kitchen LLC
(Bike/Boat/Book/etc) Store
FAQs
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 St Queens, 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.
