Astoria Multifamily Investment
For Sale
$3,595,000
30-74-76 30th Street, Astoria, NY 11102
Well-maintained 12-unit building in Astoria, Queens, built in 2004.
Property Size6,637 SF
Days on Market167
Property Features for 30-74-76 30th Street
General Information
Standard status
Active
Size
6,637 SF
Property subtype
Commercial
Zoning
R6B
Taxes and HOA fees
Annual Taxes
$39,894
Building Details
Building Size
6,637 SF
Year Built
2004
Stories
3
Units
12
Listing Agency:
Astoria Realty Brokerage Svcs
(917) 242-7756
Listed By:
Theodosis Neocli
(917) 242-7756
Source:
Cohenandcohenrealty
Added: Mar 11
Changed: Aug 23
Last Checked: Aug 23 at 8:32AM
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 Astoria Realty Brokerage Svcs
Investment Insights
Based on property information with market context.
This well-maintained 12-unit multifamily building is located in Astoria, Queens. Constructed in 2004, the building features 8 one-bedroom apartments and 4 two-bedroom apartments. The property has a low vacancy rate. Each unit is equipped with separate utilities. The building is located in a vibrant area known for its diverse culture, thriving dining scene, and easy access to public transportation and Manhattan. The property offers long-term value and growth potential with the free market lease conversion plus the installation of laundry facilities. The location has a bike score of 80, indicating it is very bikeable. The walk score is 97, designating it as a walker's paradise, and the transit score is 99, classifying it as a rider's paradise.
Key Highlights
- Prime Astoria, Queens location with excellent walk (97), bike (80), and transit (99) scores, offering easy Manhattan access.
- Strong income potential with upside from free market lease conversion on lease renewals.
- Well‑maintained, modern building constructed in 2004.
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
$162,238
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
4.51%
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%
$3,244,760
$3.2M
Cap Rate 7%
$2,317,686
$2.3M
Cap Rate 9%
$1,802,644
$1.8M
Market Conditions
NOI Build-Up for 6,637 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
$306.6K $46.20/SF
− Vacancy
−$11.7K −$1.76/SF
EGI
$295.0K $44.44/SF
− OpEx
−$132.7K −$20.00/SF
NOI
$162.2K $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%
$3,244,760
Cap Rate 7%
$2,317,686
Cap Rate 9%
$1,802,644
Alternative Uses
Best Use
Apartment 5plus
$2.32M
$2.03M – $2.70M
NOI $162,238 @ 7.0% cap · market cap 4.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.89M
$4.28M – $5.71M
NOI $342,501 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,065
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?
Apartment building - Well-maintained 12-unit building in Astoria, Queens, built in 2004.
Where is this apartment building located?
The property is located at 30-74-76 30th Street Astoria, NY.
What is the asking price?
The asking price for this property is $3,595,000.
What are key features of this property?
This property features: Prime Astoria, Queens location with excellent walk (97), bike (80), and transit (99) scores, offering easy Manhattan access.; Strong income potential with upside from free market lease conversion on lease renewals.; Well‑maintained, modern building constructed in 2004.
