Mixed-Use Asset on Steinway
For Sale
Contact for pricing
20-70 Steinway Street, Astoria, NY 11105
Mixed-use property with retail, residential, and parking income streams.
Property Size4,250 SF
Price / SF$305.41
Days on Market86
Property Features for 20-70 Steinway Street
General Information
Standard status
Active
Size
4,250 SF
Property subtype
Retail, Multifamily, Mixed Use
Zoning
C2-3 and R5D
Occupancy
100%
Building Details
Year Renovated
1989
Buildings
1
Tenancy
Multi
Listing Agency:
Compass Long Island
(917) 453-9333
Listed By:
Nicholas Colombos
Source:
Crexi
Added: May 16
Changed: Aug 8
Last Checked: Aug 7 at 7:44AM
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 Compass Long Island
Investment Insights
Based on property information with market context.
The property at 20-70 Steinway Street is a mixed-use asset located on a high-traffic thoroughfare in Queens. The well-maintained property provides a diversified income stream through a blend of retail, residential units, and private indoor parking. The property includes one retail unit, three apartments, and one private garage. The ground floor retail unit benefits from commercial zoning, supporting a wide array of high-street users. The residential component provides fully occupied rentals. Private, enclosed parking garages are scarce in Astoria, providing a value-add amenity to an apartment or a separate monthly income based upon a separate lease. The property is situated in the northern section of Steinway Street and has a size of 4250 square feet.
Key Highlights
- High visibility retail unit on Steinway Street
- Diversified income stream from retail, residential, and parking
- Three fully occupied residential apartments
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
$75,863
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
5.84%
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%
$1,517,260
$1.5M
Cap Rate 7%
$1,083,757
$1.1M
Cap Rate 9%
$842,922
$842.9K
Market Conditions
NOI Build-Up for 4,250 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
$127.5K $30.00/SF
− Vacancy
−$19.1K −$4.50/SF
EGI
$108.4K $25.50/SF
− OpEx
−$32.5K −$7.65/SF
NOI
$75.9K $17.85/SF
Area
Queens County, NY
Vacancy
15.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,517,260
Cap Rate 7%
$1,083,757
Cap Rate 9%
$842,922
Alternative Uses
Best Use
Retail
$1.08M
$948.3K – $1.26M
NOI $75,863 @ 7.0% cap · market cap 5.84%
Second Best
Mixed Use
$781.4K
$683.7K – $911.6K
NOI $54,698 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$3.13M
$2.74M – $3.66M
NOI $219,320 @ 7.0% cap · market cap 16.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,351
Businesses Nearby
202k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 43%
Shops & Services 25%
Groceries 23%
Electronics 5%
Burger King
Dining
36,225 visits/mo
0.5 miles
Key Food Supermarket
Groceries
20,925 visits/mo
0.4 miles
Las Margaritas
Dining
14,548 visits/mo
0.3 miles
C-Town Supermarkets
Groceries
14,284 visits/mo
0.2 miles
BP
Shops & Services
11,847 visits/mo
0.0 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with retail, residential, and parking income streams.
Where is this mixed-use property located?
The property is located at 20-70 Steinway Street Astoria, NY.
What is the asking price?
The asking price for this property is $1,298,000.
What are key features of this property?
This property features: High visibility retail unit on Steinway Street; Diversified income stream from retail, residential, and parking; Three fully occupied residential apartments
