Renovated Triplex
For Sale
Contact for pricing
20-14 41st Street, Astoria, NY 11105
Three renovated residences will be delivered vacant, with balconies and private outdoor space supporting flexible occupancy options.
Property Size2,863 SF
Price / SF$820.82
Days on Market22
Property Features for 20-14 41st Street
General Information
Standard status
Active
Size
2,863 SF
Property subtype
Multifamily
Zoning
R5
Additional Details
Multifamily Units
3
Amenities
balcony
private outdoor space
Building Details
Buildings
1
Stories
2
Listing Agency:
Cushman & Wakefield New York
Listed By:
Dylan Walsh · License #10401384207
(718) 307-6517
Source:
Crexi
Added: Sep 10
Changed: Sep 30
Last Checked: Oct 1 at 11:08AM
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 Cushman & Wakefield New York
Investment Insights
Based on property information with market context.
This two-story walk-up contains three renovated residences within 2,863 gross square feet. The building includes two balconies and a large private outdoor area, and all units are scheduled for vacant delivery. The configuration supports either full-building leasing or owner occupancy with additional residences available for rental.
Located at 20-14 41st Street in Astoria, the property occupies a residential block between 20th Road and 20th Avenue, near the Steinway Street and Ditmars Boulevard commercial corridors. R5 zoning and approximately 2,025 square feet of available air rights add development context, while the Tax Class 1 designation is also in place.
Located at 20-14 41st Street in Astoria, the property occupies a residential block between 20th Road and 20th Avenue, near the Steinway Street and Ditmars Boulevard commercial corridors. R5 zoning and approximately 2,025 square feet of available air rights add development context, while the Tax Class 1 designation is also in place.
Key Highlights
- Three renovated units delivered vacant
- 2,863 gross square feet in a two‑story walk‑up
- Two balconies and a large private outdoor area
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
$69,984
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
2.98%
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%
$1,399,680
$1.4M
Cap Rate 7%
$999,771
$999.8K
Cap Rate 9%
$777,600
$777.6K
Market Conditions
NOI Build-Up for 2,863 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
$132.3K $46.20/SF
− Vacancy
−$5.0K −$1.76/SF
EGI
$127.2K $44.44/SF
− OpEx
−$57.3K −$20.00/SF
NOI
$70.0K $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%
$1,399,680
Cap Rate 7%
$999,771
Cap Rate 9%
$777,600
Alternative Uses
Best Use
Apartment 5plus
$999.8K
$874.8K – $1.17M
NOI $69,984 @ 7.0% cap · market cap 2.98%
Second Best
Multifamily LT 5
$677.0K
$592.3K – $789.8K
NOI $47,387 @ 7.0% cap · market cap 2.02%
Theoretical Best
Office A
$2.11M
$1.85M – $2.46M
NOI $147,745 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,465
Businesses Nearby
Explore this area
Business Placement
Demographics for 11105, NY
38,001
Population
17,518
Households
2.2
Avg Household Size
37
Median Age
55%
College-Educated
91%
High-School Grad
1.6 sq mi
ZIP Area
23,751
Density / Sq Mi
$100,306
Median Household Income
$62,464
Median Earnings
$2,211
Median Rent
$1,089,000
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?
Triplex - Three renovated residences will be delivered vacant, with balconies and private outdoor space supporting flexible occupancy options.
Where is this triplex located?
The property is located at 20-14 41st Street Astoria, NY.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: Three renovated units delivered vacant; 2,863 gross square feet in a two‑story walk‑up; Two balconies and a large private outdoor area
