2005-Constructed Three-Family
For Sale
Contact for pricing
26-01 2nd Street, Astoria, NY 11102
2005-constructed three-family building with one 1-bedroom and two 2-bedroom units.
Property Size8,562 SF
Price / SF$490.54
Days on Market35
Property Features for 26-01 2nd Street
General Information
Standard status
Active
Size
8,562 SF
Total Parking Spaces
3
Property subtype
Multifamily
Zoning
R6
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$189,471
Additional Details
Multifamily Units
3
Building Details
Year Built
2005
Buildings
3
Stories
3
Units
9
Tenancy
Multi
Listing Agency:
Bridge Advisory Group
Listed By:
Eric Delafraz · License #10401334366
Source:
Crexi
Added: Jul 20
Changed: Aug 18
Last Checked: Aug 22 at 10:12AM
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 Bridge Advisory Group
Investment Insights
Based on property information with market context.
This modern three-family residential building was constructed in 2005 and is designed for a low-maintenance operating footprint. The first floor features a 1-bedroom unit, while the upper floors include two 2-bedroom units. The property also lends itself to light, targeted cosmetic updates to support ongoing income and presentation.
Located at 26-01 2nd Street in Astoria, the building is positioned near the Astoria Ferry Landing along the Hallets Point peninsula. The remarks note a transit-oriented commute into Long Island City, Roosevelt Island, and Manhattan.
With a practical unit mix—one 1-bedroom and two 2-bedroom layouts—the property offers a straightforward structure for multifamily ownership and management, while remaining focused on efficient, manageable improvements.
Located at 26-01 2nd Street in Astoria, the building is positioned near the Astoria Ferry Landing along the Hallets Point peninsula. The remarks note a transit-oriented commute into Long Island City, Roosevelt Island, and Manhattan.
With a practical unit mix—one 1-bedroom and two 2-bedroom layouts—the property offers a straightforward structure for multifamily ownership and management, while remaining focused on efficient, manageable improvements.
Key Highlights
- 2005‑built three‑family building with low‑maintenance construction
- Unit mix includes 1 first‑floor 1‑bedroom and two upper‑floor 2‑bedroom units
- First‑floor layout features a 1‑bedroom unit; upper floors include two spacious 2‑bedroom units
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
$209,293
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
4.98%
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%
$4,185,860
$4.2M
Cap Rate 7%
$2,989,900
$3.0M
Cap Rate 9%
$2,325,478
$2.3M
Market Conditions
NOI Build-Up for 8,562 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
$395.6K $46.20/SF
− Vacancy
−$15.0K −$1.76/SF
EGI
$380.5K $44.44/SF
− OpEx
−$171.2K −$20.00/SF
NOI
$209.3K $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%
$4,185,860
Cap Rate 7%
$2,989,900
Cap Rate 9%
$2,325,478
Alternative Uses
Best Use
Apartment 5plus
$2.99M
$2.62M – $3.49M
NOI $209,293 @ 7.0% cap · market cap 4.98%
Second Best
Multifamily LT 5
$2.02M
$1.77M – $2.36M
NOI $141,715 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$6.31M
$5.52M – $7.36M
NOI $441,840 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,287
Businesses Nearby
Explore this area
Business Placement
Demographics for 11102, NY
37,468
Population
19,431
Households
1.9
Avg Household Size
36
Median Age
58%
College-Educated
90%
High-School Grad
0.7 sq mi
ZIP Area
53,526
Density / Sq Mi
$102,996
Median Household Income
$70,557
Median Earnings
$2,248
Median Rent
$779,800
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?
Triplex - 2005-constructed three-family building with one 1-bedroom and two 2-bedroom units.
Where is this triplex located?
The property is located at 26-01 2nd Street Astoria, NY.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: 2005‑built three‑family building with low‑maintenance construction; Unit mix includes 1 first‑floor 1‑bedroom and two upper‑floor 2‑bedroom units; First‑floor layout features a 1‑bedroom unit; upper floors include two spacious 2‑bedroom units
