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    Astoria Mixed-Use Building Investment Title is generated by Realmo AI

    2366 Steinway St, Astoria, NY

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    Mixed-use building with commercial space and residential units.

    Type:RETAIL
    Property size:
    4,125 SF
    Lot size:
    0.06 Acres
    Price / SF:
    $582/SF
    Added:
    May 8, 2025
    Days on Market:
    411
    Last Refresh:
    May 19 at 10:39 pm

    Property Features for 2366 Steinway St

    General Information

    Standard status
    Active
    Size
    4,125 SF
    Lot size
    0.06 Acres
    Property subtype
    RETAIL

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    Listing Contact
    Archibald Rowan
    Archibald Rowan

    Listing agent Archibald Rowan

    Listing office EXR | Brooklyn

    Listing date May 8, 2025

    Source Moodyscre

    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 EXR | Brooklyn

    HighLights

    • High monthly rental income of $21,500 from long‑term tenants.
    • Prime Astoria location with 25 FT of street frontage and high foot traffic.
    • Ground‑floor commercial space with an active 4 AM liquor license, full bar, kitchen, and event‑ready lower level.
    • Recent upgrades including a new roof, HVAC system, and 2023 water heater.
    • Zoned R5/C2‑2, offering medium‑density residential and commercial flexibility with potential to add additional SF.
    • Proximity to major transit (Astoria & Ditmars Blvd stations) and LaGuardia Airport.

    Overview

    This 4125 square foot mixed-use building is located on Steinway Street in Astoria. The ground floor features a commercial space, currently operating as a club with a 4 AM liquor license, a full bar, a kitchen, and an event-ready lower level. The property also includes two updated residential units on the upper floors. The building offers 25 feet of street frontage in a high-visibility location with strong foot traffic. The property generates $21,500 in monthly rental income from long-term tenants. Recent upgrades include a new roof, HVAC system, and a 2023 water heater. Situated in Astoria, the building is near the Astoria Boulevard and Ditmars Boulevard stations, as well as LaGuardia Airport. Zoned R5/C2-2, the property provides medium-density residential and commercial flexibility, with the potential to add additional square footage. The club is under lease, and the residential tenants are month to month at below market rate. This is being sold as a true 8.5 Cap.

    Local Financial Insights For Specialty 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 $272.3k $66.00
    − Vacancy −$17.7k −$4.29
    EGI $254.6k $61.71
    − OpEx −$63.6k −$15.43
    NOI $190.9k $46.28
    4,125 SF · lease $66.00/SF/yr · vacancy 6.50% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $2.73M
    $2.39M – $3.18M (±1% cap)
    NOI $190,915 @ 7.0% cap · market cap 7.95%
    Second Best
    Apartment 5plus
    $1.44M
    $1.26M – $1.68M (±1% cap)
    NOI $100,833 @ 7.0% cap · market cap 4.20%
    Theoretical Best
    Office A
    $3.04M
    $2.66M – $3.55M (±1% cap)
    NOI $212,870 @ 7.0% cap · market cap 8.87%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Astoria
    County
    Queens
    State
    New York
    Longitude
    -73.9103
    Latitude
    40.7697

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use building with commercial space and residential units.
    Where is this mixed-use property located?
    The property is located at 2366 Steinway St Astoria, NY.
    What is the asking price?
    The asking price for this property is $2,400,750.
    What are key features of this property?
    This property features: High monthly rental income of $21,500 from long‑term tenants.; Prime Astoria location with **25 FT of street frontage and high foot traffic.**; Ground‑floor commercial space with an **active 4 AM liquor license, full bar, kitchen, and event‑ready lower level.**
    (415) 717-8611 Call to check price and availability
    More about this property
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