Mixed-Use Building with
40-06 Astoria Blvd S Astoria, NY 11103
For Sale
Contact for pricing
Three-story mixed-use building with 51 feet of frontage, featuring a restaurant on the first floor and vacant upper levels.
Property Size17,490 SF
Price / SF$271.58
Days on Market886
Property Features for 40-06 Astoria Blvd S
General Information
- Standard status
- Active
- Size
- 17,490 SF
- Property subtype
- RETAIL
Listing Agency:
ERG
(646) 253-0956
Listed By:
Ryan Lewis
Source:
Moodyscre
Added: Feb 21, 2024
Changed: Jul 25
Last Checked: Jul 26 at 11:15AM
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 ERG
Investment Insights
Based on property information with market context.
This three-story mixed-use building offers 17,490 square feet of commercial use. The first floor is currently occupied by a restaurant, while the second and third floors are vacant. The property underwent major renovations in 2014, including a built-to-suit restaurant first floor with over $750,000 in renovations. The second and third floors were also renovated to qualify the building for an ICAP Tax Abatement.
The building has 51 feet of frontage on Astoria Boulevard South and extends 115 feet deep.
A strong configuration for tenants seeking ground-floor restaurant space with renovated, ready upper floors, subject to current vacancy and lease-up planning.
The building has 51 feet of frontage on Astoria Boulevard South and extends 115 feet deep.
A strong configuration for tenants seeking ground-floor restaurant space with renovated, ready upper floors, subject to current vacancy and lease-up planning.
Key Highlights
- 51 feet of frontage on Astoria Boulevard South with 115 feet of depth
- 3‑story mixed‑use building with 17,490 SF of commercial use
- First floor currently occupied by a restaurant; second and third floors are vacant
Financial Insights For 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 | $524.7k | $30.00 |
| − Vacancy | −$78.7k | −$4.50 |
| EGI | $446.0k | $25.50 |
| − OpEx | −$133.8k | −$7.65 |
| NOI | $312.2k | $17.85 |
17,490 SF · lease $30.00/SF/yr · vacancy 15.00% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$11.56M
$10.12M – $13.49M
NOI $809,481 @ 7.0% cap · market cap 17.04%
Second Best
Retail
$4.46M
$3.90M – $5.20M
NOI $312,197 @ 7.0% cap · market cap 6.57%
Theoretical Best
Office A
$12.89M
$11.28M – $15.04M
NOI $902,568 @ 7.0% cap · market cap 19.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
AwesomeSauce
Restaurant
Alpha Astoria
Bar & Pub
Rivera's Catering Corp
Take-out & Catering
Sky Suites Events
Hotel & Motel
Astoria Burger Company
Restaurant
Similar Off Market Nearby
- Point Brazil — 3801 31st Ave, Queens, NY 11103
FAQs
What type of property is this?
Conventional restaurant - Three-story mixed-use building with 51 feet of frontage, featuring a restaurant on the first floor and vacant upper levels.
Where is this conventional restaurant located?
The property is located at 40-06 Astoria Blvd S Astoria, NY.
What is the asking price?
The asking price for this property is $4,749,999.
What are key features of this property?
This property features: 51 feet of frontage on Astoria Boulevard South with 115 feet of depth; 3‑story mixed‑use building with 17,490 SF of commercial use; First floor currently occupied by a restaurant; second and third floors are vacant
