Mixed-Use Building with
New
For Sale
$2,100,000
1833 27th Avenue, Astoria, NY 11102
Commercial Sale, Astoria, NY
Property Size3,432 SF
Lot Size0.04 Acres
Price / SF$611.89
Days on Market3
Property Features for 1833 27th Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R7X
Rooms
Basement
Basement
Partially Finished, Full, Storage Space
Elementary school
Ps 17 Henry David Thoreau
Middle school
Albert Shanker Sch-Visual/Perf Arts
High school
William Cullen Bryant High School
Elementary school district
Queens 30
Middle school district
Queens 30
High school district
Queens 30
Standard status
Active
APN
00885-0104
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
9771
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Steam
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1901
Floors in Building
3
Number of units
3
Flooring type
Tile, Vinyl
Building materials
Block
Listing Agency:
EXP Realty
(888) 276-0630
Listed By:
Xingye Fu
(516) 336-9417
Added: Oct 3
Changed: Oct 4
Last Checked: Oct 5 at 7:06AM
MLS# 1058409
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-story mixed-use property contains two residential units and one commercial storefront, with a full basement. Each apartment has three bedrooms and one full bathroom. The building dates to 1901 and has block construction, tile and vinyl flooring, natural gas and steam heat, and wall or window-unit cooling. Separate utility service includes three electric meters and three gas meters.
The 25-by-75-foot parcel is zoned R7X. The property is at 1833 27th Avenue in Astoria, near the N/W subway at Astoria Blvd, with shopping, restaurants, transportation, and neighborhood amenities nearby.
The 25-by-75-foot parcel is zoned R7X. The property is at 1833 27th Avenue in Astoria, near the N/W subway at Astoria Blvd, with shopping, restaurants, transportation, and neighborhood amenities nearby.
Key Highlights
- Two residential units and one commercial storefront
- Each apartment has 3 bedrooms and 1 full bathroom
- Three stories plus a full basement
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
$83,893
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
3.99%
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%
$1,677,860
$1.7M
Cap Rate 7%
$1,198,471
$1.2M
Cap Rate 9%
$932,144
$932.1K
Market Conditions
NOI Build-Up for 3,432 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
$158.6K $46.20/SF
− Vacancy
−$6.0K −$1.76/SF
EGI
$152.5K $44.44/SF
− OpEx
−$68.6K −$20.00/SF
NOI
$83.9K $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%
$1,677,860
Cap Rate 7%
$1,198,471
Cap Rate 9%
$932,144
Alternative Uses
Best Use
Apartment 5plus
$1.20M
$1.05M – $1.40M
NOI $83,893 @ 7.0% cap · market cap 3.99%
Second Best
Retail
$875.2K
$765.8K – $1.02M
NOI $61,261 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$2.53M
$2.21M – $2.95M
NOI $177,108 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,849
Businesses Nearby
Explore this area
Business Placement
Demographics for 11102, NY
37,468
Population
19,431
Households
1.9
Avg Household Size
36
Median Age
58%
College-Educated
90%
High-School Grad
0.7 sq mi
ZIP Area
53,526
Density / Sq Mi
$102,996
Median Household Income
$70,557
Median Earnings
$2,248
Median Rent
$779,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines two residential apartments with a ground-floor commercial space.
Where is this mixed-use property located?
The property is located at 1833 27th Avenue Astoria, NY.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Two residential units and one commercial storefront; Each apartment has 3 bedrooms and 1 full bathroom; Three stories plus a full basement
