Mixed-Use Development
25-70 Steinway St Astoria, NY 11103
For Sale
Contact for pricing
High-traffic Steinway Street development site includes a vacant one-story nightclub and restaurant building plus roof terrace income.
Property Size4,750 SF
Price / SF$942.11
Days on Market156
Property Features for 25-70 Steinway St
General Information
- Standard status
- Active
- Size
- 4,750 SF
- Property subtype
- Retail
Listing Agency:
Mega Realty Group
(718) 812-6644
Listed By:
Robbie Salameh · License #NY
Source:
Crexi
Added: Feb 18
Changed: Jul 22
Last Checked: Jul 23 at 1:41PM
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 Mega Realty Group
Investment Insights
Based on property information with market context.
This property is a development site featuring an existing one-story building with approximately 4,750 square feet that has served as a nightclub and restaurant. The building will be delivered vacant, and the roof terrace is identified as an additional rentable component.
Located on high-traffic Steinway Street in Astoria, the site sits on a retail corridor surrounded by restaurants, cafes, and night clubs, along with many newly developed buildings.
The offering notes the ability to build approximately 19,000 square feet, including three retail stores and more than 10 apartments above. The remarks also reference two similar newly developed buildings on the same block, one with residential units and retail space and another described as a multi-story hotel.
Located on high-traffic Steinway Street in Astoria, the site sits on a retail corridor surrounded by restaurants, cafes, and night clubs, along with many newly developed buildings.
The offering notes the ability to build approximately 19,000 square feet, including three retail stores and more than 10 apartments above. The remarks also reference two similar newly developed buildings on the same block, one with residential units and retail space and another described as a multi-story hotel.
Key Highlights
- Development site on high‑traffic Steinway Street in Astoria, NY
- Vacant one‑story building with a 4,750 SF nightclub and restaurant
- Includes roof terrace income of $8,000/month
Financial Insights For Specialty Retail
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 | $313.5k | $66.00 |
| − Vacancy | −$20.4k | −$4.29 |
| EGI | $293.1k | $61.71 |
| − OpEx | −$73.3k | −$15.43 |
| NOI | $219.8k | $46.28 |
4,750 SF · lease $66.00/SF/yr · vacancy 6.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$3.14M
$2.75M – $3.66M
NOI $219,842 @ 7.0% cap · market cap 4.91%
Second Best
Retail
$1.21M
$1.06M – $1.41M
NOI $84,788 @ 7.0% cap · market cap 1.89%
Theoretical Best
Office A
$3.50M
$3.06M – $4.09M
NOI $245,123 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Bars & Pubs
Similar Off Market Nearby
- Alembi Hookah Lounge — 23-63 Steinway St, Queens, NY 11105
- Beer Soda Snacks — 40-13 Astoria Blvd N, Queens, NY 11105
- Studio 59 Lounge — 3702 Astoria Blvd S, Queens, NY 11105
- Aloha NYC — 37-02 Astoria Blvd S, Astoria, NY 11103
- Solletto — 23-66 Steinway St, Queens, NY 11105
FAQs
What type of property is this?
Bar & Pub - High-traffic Steinway Street development site includes a vacant one-story nightclub and restaurant building plus roof terrace income.
Where is this bar & pub located?
The property is located at 25-70 Steinway St Astoria, NY.
What is the asking price?
The asking price for this property is $4,475,000.
What are key features of this property?
This property features: Development site on high‑traffic Steinway Street in Astoria, NY; Vacant one‑story building with a 4,750 SF nightclub and restaurant; Includes roof terrace income of $8,000/month
