Corner Flex Space with
For Sale
$1,700,000
29-30 12th Street Astoria, Ny, NY 11102
Open-plan commercial space offers three-sided exposure and floor-to-ceiling windows along a busy Astoria corridor.
Property Size4,100 SF
Price / SF$414.63
Days on Market63
Property Features for 29-30 12th Street Astoria
General Information
Standard status
Active
Size
4,100 SF
Site & Location
Frontage
25 ft
Corner Location
Yes
Road Access
Yes
Additional Details
Clear Height
17 ft
Taxes and HOA fees
Annual Taxes
$33,878
Amenities
1
No
Public
4100
Building Details
Building Size
4,100 SF
Buildings
1
Stories
1
Listing Agency:
(845) 765-6128
Listed By:
Peter Quartironi
(845) 765-6128
Source:
Town-and-country-fishkill-ny.remax
Added: Jun 30
Changed: Aug 30
Last Checked: Aug 30 at 1:05PM
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 Peter Quartironi
Investment Insights
Based on property information with market context.
This 4,100 SF ground-floor flex property combines an open interior with a showroom-oriented layout. The building has approximately 17-foot ceilings and 25 feet of frontage with wide glass windows, creating a configuration suited to retail display, showroom operations, or other commercial uses. The corner position provides exposure on three sides.
The property is located at 29-30 12th Street in Astoria, at the intersection with 30th Avenue. The surrounding commercial corridor includes restaurants, shops, and community amenities, with both pedestrian and vehicle activity. The space is identified as suitable for uses including restaurant, retail, fitness, medical or professional office, grocery, laundry, training school, and art studio operations.
The property is located at 29-30 12th Street in Astoria, at the intersection with 30th Avenue. The surrounding commercial corridor includes restaurants, shops, and community amenities, with both pedestrian and vehicle activity. The space is identified as suitable for uses including restaurant, retail, fitness, medical or professional office, grocery, laundry, training school, and art studio operations.
Key Highlights
- 4,100 SF ground‑floor open layout
- Approximately 17 ft ceiling height
- 25 ft frontage with wide glass windows
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
$100,737
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
5.93%
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%
$2,014,740
$2.0M
Cap Rate 7%
$1,439,100
$1.4M
Cap Rate 9%
$1,119,300
$1.1M
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
$172.2K $42.00/SF
− Vacancy
−$17.2K −$4.20/SF
EGI
$155.0K $37.80/SF
− OpEx
−$54.2K −$13.23/SF
NOI
$100.7K $24.57/SF
Area
New York, NY
Vacancy
10.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
35.00%
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%
$2,014,740
Cap Rate 7%
$1,439,100
Cap Rate 9%
$1,119,300
Alternative Uses
Best Use
Retail
$8.24M
$7.21M – $9.62M
NOI $576,971 @ 7.0% cap · market cap 33.94%
Second Best
Flex RnD
$1.44M
$1.26M – $1.68M
NOI $100,737 @ 7.0% cap · market cap 5.93%
Theoretical Best
Specialty Retail
$10.21M
$8.93M – $11.91M
NOI $714,384 @ 7.0% cap · market cap 42.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
17 ft
Clear height
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
41,855
Businesses Nearby
Under-served
Demand for This Use
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 Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Open-plan commercial space offers three-sided exposure and floor-to-ceiling windows along a busy Astoria corridor.
Where is this flex space located?
The property is located at 29-30 12th Street Astoria Ny, 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: 4,100 SF ground‑floor open layout; Approximately 17 ft ceiling height; 25 ft frontage with wide glass windows
