Astoria Retail & Warehouse
For Sale
$1,700,000
29-30 12th St, Queens, NY 11102
Corner commercial property on 30th Avenue with triple street exposure.
Property Size4,100 SF
Price / SF$414.63
Days on Market191
Property Features for 29-30 12th St
General Information
Standard status
Active
Size
4,100 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$33,878
Building Details
Building Size
4,100 SF
Stories
1
Units
1
Listing Agency:
Chase Global Realty Corp
Listed By:
Kayo Lee
(917) 225-5503
Source:
Elliman
Added: Mar 10
Changed: Sep 16
Last Checked: Sep 15 at 8:24AM
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 Chase Global Realty Corp
Investment Insights
Based on property information with market context.
This commercial property is located on Astoria’s 30th Avenue, offering triple street exposure and high visibility. The building has approximately 4,100 square feet with an open ground-floor layout. The frontage features 25 feet of wide glass windows. The ceiling height is approximately 17 feet, creating an open, high-ceiling industrial style. The property is situated at the intersection of 30th Avenue, surrounded by restaurants, shops, and community amenities. It is suitable for various uses, including a restaurant, retail space, fitness center, medical office, professional office, grocery store, laundry facility, training school, or art studio. The property benefits from excellent foot and vehicle traffic in one of Astoria’s dynamic commercial corridors. The location provides high visibility and accessibility. The common charges are $99509 per month and include water.
Key Highlights
- Prime corner location on Astoria's 30th Avenue with triple street exposure and exceptional visibility.
- Approx. 4,100 SF ground‑floor open layout suitable for diverse uses.
- High 17 ft ceilings create an open, industrial‑style space.
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
$134,988
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
7.94%
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%
$2,699,760
$2.7M
Cap Rate 7%
$1,928,400
$1.9M
Cap Rate 9%
$1,499,867
$1.5M
Market Conditions
NOI Build-Up for 4,100 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
$206.6K $50.40/SF
− Vacancy
−$26.7K −$6.50/SF
EGI
$180.0K $43.90/SF
− OpEx
−$45.0K −$10.97/SF
NOI
$135.0K $32.92/SF
Area
Queens County, NY
Vacancy
12.90%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
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%
$2,699,760
Cap Rate 7%
$1,928,400
Cap Rate 9%
$1,499,867
Alternative Uses
Best Use
Specialty Retail
$2.71M
$2.37M – $3.16M
NOI $189,758 @ 7.0% cap · market cap 11.16%
Second Best
Office B
$1.93M
$1.69M – $2.25M
NOI $134,988 @ 7.0% cap · market cap 7.94%
Theoretical Best
Office A
$3.02M
$2.64M – $3.53M
NOI $211,580 @ 7.0% cap · market cap 12.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,016
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Retail space - Corner commercial property on 30th Avenue with triple street exposure.
Where is this retail space located?
The property is located at 29-30 12th St Queens, NY.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Prime corner location on Astoria's 30th Avenue with triple street exposure and exceptional visibility.; Approx. 4,100 SF ground‑floor open layout suitable for diverse uses.; High 17 ft ceilings create an open, industrial‑style space.
