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    40-10 Forley St Queens, NY 11373

    Sponsored
    For Sale
    $3,190,000

    Prime Elmhurst location, high NOI.

    Property size:
    3,568 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional three-story mixed-use building, located at 40-10 Forley St in Queens, NY 11373, presents a compelling investment opportunity. The 3,568 square foot property, built in 1955 and renovated in 2008, sits on a 2,040 square foot lot and boasts a 4.00% cap rate. Currently operating at 100% occupancy, the building generates a Net Operating Income (NOI) of $130,000 annually, with an asking price of $3,190,000 ($894.06 per square foot). The property features two units: expansive retail spaces on the first and second floors, ideal for a variety of businesses, and a spacious residential unit on the third floor. Its convenient location adjacent to a subway station ensures high visibility and foot traffic. The permitted zoning (R4, R6, C1-3) offers flexibility for future development. This property is perfect for both investors seeking a strong return and owner-occupants desiring a live-work situation in a thriving Queens neighborhood. The building's strong financial performance, prime location, and versatile zoning make it an attractive investment opportunity in a highly desirable area. This is a 1031 exchange eligible property.

    Property Features for 40-10 Forley St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    3,568 SF

    Building Details

    Year Built/Renovated
    1955/2008
    Stories
    3
    Units
    2

    HighLights

    • $3,190,000 asking price for a mixed‑use building in Elmhurst, Queens.
    • 3,568 square feet with a $894.06 price per square foot.
    • 4.00% cap rate and $130,000 net operating income (NOI).
    • 100% occupancy with two units.
    • Built in 1955, renovated in 2008, three stories, 2,040 square foot lot.
    • R4, R6, and C1‑3 permitted zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Queens
    County
    Queens
    State
    New York
    Longitude
    -73.8811054
    Latitude
    40.7475769

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    FAQs

    What type of property is this?
    Mixed-use property - Prime Elmhurst location, high NOI.
    Where is this mixed-use property located?
    The property is located at 40-10 Forley St Queens, NY.
    What is the asking price?
    The asking price for this property is $3,190,000.
    What are key features of this property?
    This property features: $3,190,000 asking price for a mixed-use building in Elmhurst, Queens.; 3,568 square feet with a $894.06 price per square foot.; 4.00% cap rate and $130,000 net operating income (NOI).
    (718) 886-8110
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    40-10 Forley St Queens, NY 11373
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