Fully Occupied Mixed-Use
2447 44th Street Astoria Ny, NY 11103
2447 44th Street Astoria, Ny, NY, 11103
$11,500,000
For Sale
$11,500,000
Fully occupied mixed-use building with 24 residential units, 4 commercial spaces, and 11 on-site parking spaces.
Property Size27,600 SF
Price / SF$416.67
Days on Market9
Property Features for 2447 44th Street Astoria
General Information
- Standard status
- Active
- Size
- 27,600 SF
Building Details
- Year Built
- 1948
Listing Agency
Park Assets Real Estate Corp
(718) 684-8000
Listed by
Chavanne Samuels
(718) 684-8000
Source
Parkassets
Added: Jul 10 Checked: Jul 11 at 2:38 am
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 Park Assets Real Estate Corp
Investment Insights
Based on property information with market context.
This fully occupied mixed-use building includes 24 residential units and 4 commercial spaces. The property features 11 on-site parking spaces, and tenants are responsible for their own utilities, which can help manage operating expenses. Income and expense details are available upon request.
Located at 24-47 44th Street in Astoria, NY, the property is in a well-connected area with convenient access to major highways, bridges, and public transportation. The surrounding neighborhood provides residential density and everyday retail and dining amenities.
For buyers seeking a diversified income stream within a single asset, the current tenant occupancy supports immediate revenue from both residential and commercial components.
Located at 24-47 44th Street in Astoria, NY, the property is in a well-connected area with convenient access to major highways, bridges, and public transportation. The surrounding neighborhood provides residential density and everyday retail and dining amenities.
For buyers seeking a diversified income stream within a single asset, the current tenant occupancy supports immediate revenue from both residential and commercial components.
Key Highlights
- Fully occupied mixed‑use building with 24 residential units (free market) and 4 commercial spaces
- 11 on‑site parking spaces included
- Tenants pay their own utilities, helping manage operating expenses
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.66M | $60.00 |
| − Vacancy | −$248.4k | −$9.00 |
| EGI | $1.41M | $51.00 |
| − OpEx | −$527.9k | −$19.13 |
| NOI | $879.8k | $31.88 |
27,600 SF · lease $60.00/SF/yr · vacancy 15.00% · expense 37.50%
Alternative Uses
Best Use
Retail
$55.49M
$48.55M – $64.73M
NOI $3,883,997 @ 7.0% cap · market cap 33.77%
Second Best
Mixed Use
$12.57M
$11.00M – $14.66M
NOI $879,750 @ 7.0% cap · market cap 7.65%
Theoretical Best
Specialty Retail
$68.70M
$60.11M – $80.15M
NOI $4,809,024 @ 7.0% cap · market cap 41.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Fully occupied mixed-use building with 24 residential units, 4 commercial spaces, and 11 on-site parking spaces.
Where is this apartment building located?
The property is located at 2447 44th Street Astoria Ny, NY.
What is the asking price?
The asking price for this property is $11,500,000.
What are key features of this property?
This property features: Fully occupied mixed‑use building with 24 residential units (free market) and 4 commercial spaces; 11 on‑site parking spaces included; Tenants pay their own utilities, helping manage operating expenses
