2366 Steinway St, Astoria, NY

Listing Agency: EXR | Brooklyn Show Phone

Listed By: Archibald Rowan Show Phone

Source: Moodyscre

Added: May 8, 2025 Changed: Oct 26 Last Checked: Nov 6 at 7:40AM

Report an Issue

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 EXR | Brooklyn

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 4125 square foot mixed-use building is located on Steinway Street in Astoria. The ground floor features a commercial space, currently operating as a club with a 4 AM liquor license, a full bar, a kitchen, and an event-ready lower level. The property also includes two updated residential units on the upper floors. The building offers 25 feet of street frontage in a high-visibility location with strong foot traffic. The property generates $21,500 in monthly rental income from long-term tenants. Recent upgrades include a new roof, HVAC system, and a 2023 water heater. Situated in Astoria, the building is near the Astoria Boulevard and Ditmars Boulevard stations, as well as LaGuardia Airport. Zoned R5/C2-2, the property provides medium-density residential and commercial flexibility, with the potential to add additional square footage. The club is under lease, and the residential tenants are month to month at below market rate. This is being sold as a true 8.5 Cap.

Key Highlights

• High monthly rental income of $21,500 from long‑term tenants.
• Prime Astoria location with 25 FT of street frontage and high foot traffic.
• Ground‑floor commercial space with an active 4 AM liquor license, full bar, kitchen, and event‑ready lower level.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$190,915

Cap Rate

7.95%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,818,300 $3.8M

Cap Rate 7%

$2,727,357 $2.7M

Cap Rate 9%

$2,121,278 $2.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,125 SF

Gross rent

$272.3K $66.00/SF

− Vacancy

−$17.7K −$4.29/SF

EGI

$254.6K $61.71/SF

− OpEx

−$63.6K −$15.43/SF

NOI

$190.9K $46.28/SF

Area

Queens County, NY

Vacancy

6.50%

Lease Rate

$66.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,818,300

Cap Rate 7%

$2,727,357

Cap Rate 9%

$2,121,278

Alternative Uses

Best Use

Specialty Retail

$2.73M

$2.39M – $3.18M (±1% cap)

NOI $190,915 @ 7.0% cap · market cap 7.95%

Second Best

Apartment 5plus

$1.44M

$1.26M – $1.68M (±1% cap)

NOI $100,833 @ 7.0% cap · market cap 4.20%

Theoretical Best

Office A

$3.04M

$2.66M – $3.55M (±1% cap)

NOI $212,870 @ 7.0% cap · market cap 8.87%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Bars & Pubs

Suggested Use

Top Pick Law Firm Parking Lot & Garage Nursing Home Pet Grooming Service Home Appliance Store Clothing & Fashion Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

6,128

Businesses Nearby

Explore this area Business Placement

Market

Average Price Trend$/SF for Mixed-use properties in Queens County, NY

$758 Jul

$684 Aug

$604 Sep

$582 Oct

Properties on Market for Mixed-use properties in Queens County

Jul

Aug

Sep

Oct

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Similar For Sale Nearby

See more

Six-Unit Apartment Building

34-17 11th Street, Astoria, NY 11106

$1,900,000

4,242 SF

View details

Six-Unit Brick Apartment Building

429 27th Avenue, Astoria, NY 11102

$1,799,000

4,080 SF

View details

Full-Building Retail Opportunity

30-75 Steinway Street, Astoria, NY 11103

$2,700,000

4,600 SF

View details

Three-Unit Mixed-Use Building

1833 27th Ave, Astoria, NY 11102

$2,100,000

3,432 SF

View details

Brick Triplex with Garage

3121 46th Street, Astoria, NY 11103

$2,150,000

3,364 SF

View details

Six-Unit Apartment Building

34-30 28th Street, Astoria, NY 11106

$1,888,888

4,800 SF

View details

6-Family Brick Apartment Building

34-35 33rd Street, Astoria, NY 11106

$1,550,000

3,660 SF

View details

6-Unit Apartment Building

2446 38th St, Astoria, NY 11103

$1,499,000

4,620 SF

View details

Three-Family Home with Detached Garage

20-70 45th Street, Astoria, NY 11105

$2,999,000

0.15 Acres

View details

Multifamily Property with Garage

2504 42nd Street, Astoria, NY 11103

$1,798,000

3,139 SF

View details

Duplex Property with Private Backyard

1445 30th Drive, Astoria, NY 11102

$1,699,999

3,216 SF

View details

Multifamily Property

30-28 41st St, Astoria, NY 11103

$1,550,000

View details

Frequently Asked Questions

What type of property is this?

Mixed-use property - Mixed-use building with commercial space and residential units.

Where is this mixed-use property located?

The property is located at 2366 Steinway St Astoria, NY.

What is the asking price?

The asking price for this property is $2,400,750.

What are key features of this property?

This property features: High monthly rental income of $21,500 from long‑term tenants.; Prime Astoria location with **25 FT of street frontage and high foot traffic.**; Ground‑floor commercial space with an **active 4 AM liquor license, full bar, kitchen, and event‑ready lower level.**