Three-Unit Triplex
New
For Sale
$2,180,000
76-30 Grand Central Parkway, Forest Hills, NY 11375
Income-producing residential asset with access to express subway, train, and major bus routes.
Property Size3,040 SF
Days on Market7
Property Features for 76-30 Grand Central Parkway
General Information
Standard status
Active
Size
3,040 SF
Property subtype
Triplex
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$16,981
Building Details
Building Size
3,040 SF
Year Built
1990
Listing Agency:
Winzone Realty Inc
(718) 899-7000
Listed By:
Xiao Feng Pan CBR · License #31PA0929296
Source:
Barbieliteam
Added: Aug 17
Changed: Aug 22
Last Checked: Aug 23 at 9:20AM
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 Winzone Realty Inc
Investment Insights
Based on property information with market context.
Built in 1990, this Forest Hills residential income property comprises three dwellings and is identified as a triplex asset. The property is positioned for an owner seeking an income-producing multifamily holding in an established Queens setting.
Transit access includes nearby express subway service, train connections, and major bus routes. Dining and shopping are also close by, while PS 196 serves as the zoned school. The property is located at 76-30 Grand Central Parkway, Forest Hills, NY 11375.
Transit access includes nearby express subway service, train connections, and major bus routes. Dining and shopping are also close by, while PS 196 serves as the zoned school. The property is located at 76-30 Grand Central Parkway, Forest Hills, NY 11375.
Key Highlights
- Three‑dwelling residential income property
- Built in 1990
- Forest Hills location at 76‑30 Grand Central Parkway
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
$74,311
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
3.41%
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%
$1,486,220
$1.5M
Cap Rate 7%
$1,061,586
$1.1M
Cap Rate 9%
$825,678
$825.7K
Market Conditions
NOI Build-Up for 3,040 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
$140.4K $46.20/SF
− Vacancy
−$5.3K −$1.76/SF
EGI
$135.1K $44.44/SF
− OpEx
−$60.8K −$20.00/SF
NOI
$74.3K $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%
$1,486,220
Cap Rate 7%
$1,061,586
Cap Rate 9%
$825,678
Alternative Uses
Best Use
Apartment 5plus
$1.06M
$928.9K – $1.24M
NOI $74,311 @ 7.0% cap · market cap 3.41%
Second Best
Multifamily LT 5
$718.8K
$629.0K – $838.6K
NOI $50,317 @ 7.0% cap · market cap 2.31%
Theoretical Best
Office A
$2.24M
$1.96M – $2.61M
NOI $156,879 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Income-producing residential asset with access to express subway, train, and major bus routes.
Where is this triplex located?
The property is located at 76-30 Grand Central Parkway Forest Hills, NY.
What is the asking price?
The asking price for this property is $2,180,000.
What are key features of this property?
This property features: Three‑dwelling residential income property; Built in 1990; Forest Hills location at 76‑30 Grand Central Parkway
