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Forest Hills Mini Mall 107-27-107-29 71st Ave 7,949 SF 100% Leased Retail Building Forest Hills, NY 11375 $13,800,000 ($1,736.07/SF)
Investment Highlights
- Calling All Investors, Developers & End-Users!!! 100% Occupied New Mini Mall In Forest Hills For Sale!!!
- The Building Features Excellent Signage, Great Exposure, Long Term Leases, C4-5X/R7X Zoning, High 8’ Ceilings, 3 Stories, 2 Lots, 3 Phase Power, ++!!!
- The Property Has 49’ Of Frontage On 71st Avenue!!!
- The Property Is Located In The Heart Of Forest Hills On 71st Avenue Just Off Queens Blvd. Only Minutes From Forest Hills Stadium & Queens Center!!!
- Neighbors Include Starbucks, Chevrolet, Costco, The Home Depot, P.C. Richard & Son, Best Buy, Target, Planet Fitness, Shake Shack, +++!!!
- This Property Offers HUGE Upside Potential!!!
Executive Summary
Calling All Investors, Developers & End-Users!!! 100% Occupied New Mini Mall In Forest Hills For Sale!!! The Property Is Located In The Heart Of Forest Hills On 71st Avenue Just Off Queens Blvd. Only Minutes From Forest Hills Stadium & Queens Center!!! The Property Is Situated On A 6,600+ Sqft. Lot Only Minutes From The Grand Central Pkwy., Van Wyck Expy. & Jackie Robinson Pkwy.!!! The Building Features Excellent Signage, Great Exposure, Long Term Leases, C4-5X/R7X Zoning, High 8’ Ceilings, 3 Stories, 2 Lots, 3 Phase Power, All New LED Lighting, CAC, +++!!! Neighbors Include Starbucks, Chevrolet, Costco, The Home Depot, P.C. Richard & Son, Best Buy, Target, Planet Fitness, Shake Shack, The Vitamin Shoppe, Trader Joe’s, Regal Cinemas, Walgreens, Dunkin’, Jersey Mike’s Subs, Chick-fil-A, Wendy’s, +++!!! The Property Has 49’ Of Frontage On 71st Avenue!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Income:
Pizzeria (Front): $168,000 Ann.; 3% Ann. Inc.; Lease Exp.: 2032.
Pizzeria Restaurant (Rear): $180,000 Ann.; 3% Ann. Inc.; Lease Exp.: 2032.
Azad Coffee: $44,000 Ann.; 3% Ann. Inc.; Lease Exp.: 1/1/2030.
Royal Beauty Spa: $180,000 Ann.; 3% Ann. Inc.; Lease Exp.: 2/1/2031.
Expenses:
Electric: $0 Ann.
Water & Sewer: $0 Ann.
Insurance: $6,825 Ann.
Maintenance & Repairs: $250 Ann.
Taxes: $171,378 Ann.
Gross Income: $672,000 Ann.
Total Expenses: $178,453 Ann.
Net Operating Income (NOI): $493,547 Ann.
Income:
Pizzeria (Front): $168,000 Ann.; 3% Ann. Inc.; Lease Exp.: 2032.
Pizzeria Restaurant (Rear): $180,000 Ann.; 3% Ann. Inc.; Lease Exp.: 2032.
Azad Coffee: $44,000 Ann.; 3% Ann. Inc.; Lease Exp.: 1/1/2030.
Royal Beauty Spa: $180,000 Ann.; 3% Ann. Inc.; Lease Exp.: 2/1/2031.
Expenses:
Electric: $0 Ann.
Water & Sewer: $0 Ann.
Insurance: $6,825 Ann.
Maintenance & Repairs: $250 Ann.
Taxes: $171,378 Ann.
Gross Income: $672,000 Ann.
Total Expenses: $178,453 Ann.
Net Operating Income (NOI): $493,547 Ann.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$672,000
|
$84.54
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$672,000
|
$84.54
|
| Taxes |
$171,378
|
$21.56
|
| Operating Expenses |
$7,075
|
$0.89
|
| Total Expenses |
$178,453
|
$22.45
|
| Net Operating Income |
$493,547
|
$62.09
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $672,000 |
| Annual Per SF | $84.54 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $672,000 |
| Annual Per SF | $84.54 |
| Taxes | |
|---|---|
| Annual | $171,378 |
| Annual Per SF | $21.56 |
| Operating Expenses | |
|---|---|
| Annual | $7,075 |
| Annual Per SF | $0.89 |
| Total Expenses | |
|---|---|
| Annual | $178,453 |
| Annual Per SF | $22.45 |
| Net Operating Income | |
|---|---|
| Annual | $493,547 |
| Annual Per SF | $62.09 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
7,949 SF
Building Class
C
Year Built
1931
Price
$13,800,000
Price Per SF
$1,736.07
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.30
Lot Size
0.14 AC
Opportunity Zone
Yes
Zoning
C4-2/R7X - Regional Commercial Center Located Outside of Central Business Districts.
Frontage
49’ on 71st Avenue
Amenities
- Tenant Controlled HVAC
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Total Assessment | $1,579,811 | |
| Land Assessment | $1,165,500 | Annual Taxes | $171,378 ($21.56/SF) |
| Improvements Assessment | $414,311 | Tax Year | 2025 |
Property Taxes
Parcel Numbers
Land Assessment
$1,165,500
Improvements Assessment
$414,311
Total Assessment
$1,579,811
Annual Taxes
$171,378 ($21.56/SF)
Tax Year
2025
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Forest Hills Mini Mall | 107-27-107-29 71st Ave
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