Multifamily
For Sale
$1,650,000
30-28 41st St, Astoria, NY 11103
Multifamily asset in Astoria, Queens, positioned between 30th Avenue and 31st Avenue.
Property Size5,298 SF
Days on Market106
Property Features for 30-28 41st St
General Information
Standard status
Active
Size
5,298 SF
Property subtype
Multifamily
Additional Details
Cap Rate
5.9%
Amenities
27.42 Feet Wide
3 FM | 3 RS
Building Details
Building Size
5,298 SF
Units
6
Listing Agency:
Marcus & Millichap | Manhattan
Listed By:
Matt Fotis · License #License(s): NY: 10301207136
(212) 430-5234
Source:
Marcusmillichap
Added: Jun 3
Changed: Sep 3
Last Checked: Sep 14 at 5:41AM
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 Marcus & Millichap | Manhattan
Investment Insights
Based on property information with market context.
This multifamily property is located at 30-28 41st Street in Astoria, Queens, New York. The site sits between 30th Avenue and 31st Avenue, within the Astoria section of Queens.
Key Highlights
- Multifamily property in Astoria, Queens
- Located at 30‑28 41st Street, Astoria, NY 11103
- Positioned between 30th Avenue and 31st Avenue
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
$129,507
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
7.85%
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%
$2,590,140
$2.6M
Cap Rate 7%
$1,850,100
$1.9M
Cap Rate 9%
$1,438,967
$1.4M
Market Conditions
NOI Build-Up for 5,298 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
$244.8K $46.20/SF
− Vacancy
−$9.3K −$1.76/SF
EGI
$235.5K $44.44/SF
− OpEx
−$106.0K −$20.00/SF
NOI
$129.5K $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%
$2,590,140
Cap Rate 7%
$1,850,100
Cap Rate 9%
$1,438,967
Alternative Uses
Best Use
Apartment 5plus
$1.85M
$1.62M – $2.16M
NOI $129,507 @ 7.0% cap · market cap 7.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.91M
$3.42M – $4.56M
NOI $273,402 @ 7.0% cap · market cap 16.57%
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
1,465
Businesses Nearby
Explore this area
Business Placement
Demographics for 11103, NY
37,362
Population
18,833
Households
2
Avg Household Size
36
Median Age
52%
College-Educated
89%
High-School Grad
0.7 sq mi
ZIP Area
53,374
Density / Sq Mi
$92,787
Median Household Income
$59,050
Median Earnings
$2,120
Median Rent
$1,003,500
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 Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily asset in Astoria, Queens, positioned between 30th Avenue and 31st Avenue.
Where is this multifamily property located?
The property is located at 30-28 41st St Astoria, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Multifamily property in Astoria, Queens; Located at 30‑28 41st Street, Astoria, NY 11103; Positioned between 30th Avenue and 31st Avenue
