Mixed-Use Property With Indoor
For Sale
$1,598,000
2070A Steinway Street, Astoria, NY 11105
Retail, apartments, and enclosed parking combine within a fully occupied mixed-use asset on Steinway Street.
Property Size3,150 SF
Price / SF$507.30
Days on Market86
Property Features for 2070A Steinway Street
General Information
Standard status
Active
Size
3,150 SF
Total Parking Spaces
2
Property subtype
Multi Family
Occupancy
100%
Units
Unit Mix
4 x 1BR/1BTH
Multifamily Units
4
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$37,814
Building Details
Building Size
3,150 SF
Year Built
1988
Tenancy
Multi
Listing Agency:
Compass Greater NY LLC
(347) 992-3245
Listed By:
Ioannis Gloumis
Source:
Cbwarburg
Added: May 16
Changed: Aug 9
Last Checked: Aug 9 at 5:48AM
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 Greater NY LLC
Investment Insights
Based on property information with market context.
This mixed-use property combines a ground-floor retail unit with four residential apartments, each configured with one bedroom and one bathroom. The building also includes a private, enclosed garage with capacity for two cars. Built in 1988, the asset brings together retail, residential, and parking components in a single property, with the rental spaces reported as fully occupied.
The retail space carries commercial zoning and is positioned along Steinway Street in Astoria, Queens, a heavily traveled thoroughfare. The enclosed parking component provides dedicated indoor parking within the property and can support a separate lease arrangement or complement the residential units, as described in the property information.
The retail space carries commercial zoning and is positioned along Steinway Street in Astoria, Queens, a heavily traveled thoroughfare. The enclosed parking component provides dedicated indoor parking within the property and can support a separate lease arrangement or complement the residential units, as described in the property information.
Key Highlights
- Ground‑floor retail unit with commercial zoning
- Four 1br/1bth residential apartments
- Private, enclosed 2‑car garage
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
$77,000
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
4.82%
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%
$1,540,000
$1.5M
Cap Rate 7%
$1,100,000
$1.1M
Cap Rate 9%
$855,556
$855.6K
Market Conditions
NOI Build-Up for 3,150 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
$145.5K $46.20/SF
− Vacancy
−$5.5K −$1.76/SF
EGI
$140.0K $44.44/SF
− OpEx
−$63.0K −$20.00/SF
NOI
$77.0K $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%
$1,540,000
Cap Rate 7%
$1,100,000
Cap Rate 9%
$855,556
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$962.5K – $1.28M
NOI $77,000 @ 7.0% cap · market cap 4.82%
Second Best
Retail
$803.3K
$702.9K – $937.1K
NOI $56,228 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$2.32M
$2.03M – $2.71M
NOI $162,555 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
7,351
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail, apartments, and enclosed parking combine within a fully occupied mixed-use asset on Steinway Street.
Where is this mixed-use property located?
The property is located at 2070A Steinway Street Astoria, NY.
What is the asking price?
The asking price for this property is $1,598,000.
What are key features of this property?
This property features: Ground‑floor retail unit with commercial zoning; Four 1br/1bth residential apartments; Private, enclosed 2‑car garage
