Renovated Astoria Building For
For Sale
$1,399,999
Pending
21-07 38 St, Queens, NY 11105
Completely renovated building in the heart of Astoria.
Property Size4,500 SF
Lot Size0.05 Acres
Days on Market213
Property Features for 21-07 38 St
General Information
Standard status
Pending
Size
4,500 SF
Lot size
0.05 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$19,376
Building Details
Building Size
4,500 SF
Year Built
1931
Units
6
Listing Agency:
LAFFEY REAL ESTATE
Listed By:
Armen H. Caprielian
(516) 625-0944
Source:
Elliman
Added: Mar 10
Changed: Sep 29
Last Checked: Oct 7 at 2:25PM
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 LAFFEY REAL ESTATE
Investment Insights
Based on property information with market context.
This completely renovated building is located in the heart of Astoria. The area offers various shopping, transportation options, and recreational venues. The updated building is ready for a new owner.
Key Highlights
- Completely renovated building from top to bottom.
- Located in the heart of Astoria.
- Convenient access to shopping.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$110,000
Cap Rate
7.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,200,000
$2.2M
Cap Rate 7%
$1,571,429
$1.6M
Cap Rate 9%
$1,222,222
$1.2M
Market Conditions
NOI Build-Up for 4,500 SF
Gross rent
$207.9K $46.20/SF
− Vacancy
−$7.9K −$1.76/SF
EGI
$200.0K $44.44/SF
− OpEx
−$90.0K −$20.00/SF
NOI
$110.0K $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 Rate 5%
$2,200,000
Cap Rate 7%
$1,571,429
Cap Rate 9%
$1,222,222
Alternative Uses
Best Use
Apartment 5plus
$1.57M
$1.38M – $1.83M
NOI $110,000 @ 7.0% cap · market cap 7.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.32M
$2.90M – $3.87M
NOI $232,222 @ 7.0% cap · market cap 16.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,539
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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Frequently Asked Questions
What type of property is this?
Residential income property - Completely renovated building in the heart of Astoria.
Where is this residential income property located?
The property is located at 21-07 38 St Queens, NY.
What is the asking price?
The asking price for this property is $1,399,999.
What are key features of this property?
This property features: Completely renovated building from top to bottom.; Located in the heart of Astoria.; Convenient access to shopping.
