8-Unit Apartment
76-18 Grand Central Parkway, Forest Hills, NY 11375
For Sale
$1,690,000
Residents are within two blocks of subway and bus service in Forest Hills.
Property Size5,400 SF
Price / SF$312.96
Days on Market243
Property Features for 76-18 Grand Central Parkway
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Additional Details
Gross Income
Public Transit
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
balconies
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Block & Lot Services Inc
(718) 762-2288
Listed By:
Alice C. Wong · License #10311210224
Source:
Croninreale
Added: Mar 11
Changed: Nov 7
Last Checked: Nov 7 at 4:22PM
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 Block & Lot Services Inc
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Investment Insights
Based on property information with market context.
This 8-unit apartment property in Forest Hills contains 5,400 square feet across seven one-bedroom apartments and one studio. Built in 1989, the building has balconies in some units and parking for two cars. The property is zoned R6.
Subway and bus service are two blocks away. Shopping, dining, and schools are nearby, and Manhattan is described as minutes away. Tenants pay for utilities other than water.
Subway and bus service are two blocks away. Shopping, dining, and schools are nearby, and Manhattan is described as minutes away. Tenants pay for utilities other than water.
Key Highlights
- Eight apartments: seven one‑bedroom units and one studio
- 5,400 square feet; built in 1989
- Some apartments have balconies
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$132,000
Cap Rate
7.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,640,000
$2.6M
Cap Rate 7%
$1,885,714
$1.9M
Cap Rate 9%
$1,466,667
$1.5M
Market Conditions
NOI Build-Up for 5,400 SF
Gross rent
$249.5K $46.20/SF
− Vacancy
−$9.5K −$1.76/SF
EGI
$240.0K $44.44/SF
− OpEx
−$108.0K −$20.00/SF
NOI
$132.0K $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 Rate 5%
$2,640,000
Cap Rate 7%
$1,885,714
Cap Rate 9%
$1,466,667
Alternative Uses
Best Use
Apartment 5plus
$1.89M
$1.65M – $2.20M
NOI $132,000 @ 7.0% cap · market cap 7.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.98M
$3.48M – $4.64M
NOI $278,666 @ 7.0% cap · market cap 16.49%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
5,472
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
$572,800
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Queens County, NY
Properties on Market for Apartment buildings in Queens County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Residents are within two blocks of subway and bus service in Forest Hills.
Where is this apartment building located?
The property is located at 76-18 Grand Central Parkway Forest Hills, NY.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: Eight apartments: seven one‑bedroom units and one studio; 5,400 square feet; built in 1989; Some apartments have balconies
