Full-Building Retail
For Sale
$2,700,000
30-75 Steinway Street, Astoria, NY 11103
Renovated full-building retail space spans three floors plus a basement, offering turnkey condition for immediate occupancy.
Property Size4,600 SF
Price / SF$586.96
Days on Market67
Property Features for 30-75 Steinway Street
General Information
Standard status
Active
Size
4,600 SF
Property subtype
Retail
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$80,829
Building Details
Building Size
4,600 SF
Year Built
1930
Stories
3
Tenancy
Single
Listing Agency:
B Square Realty
Listed By:
Li Li
Source:
Serhant
Added: Jul 1
Changed: Sep 4
Last Checked: Sep 4 at 1:26PM
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 B Square Realty
Investment Insights
Based on property information with market context.
This full-building retail opportunity spans three full floors plus a full basement, providing significantly more usable space than a typical storefront. The interior has been fully renovated and is offered in turnkey condition, supporting immediate occupancy with minimal additional build-out or renovation. The layout is described as flexible, accommodating a range of customer-facing and operational needs, including retail, medical, showroom, educational, wellness, or other professional uses that require office areas, storage, and day-to-day operations within the building.
The property is located on Steinway Street in Astoria and is positioned on an established retail corridor. The offering highlights strong visibility and consistent pedestrian and vehicle traffic, along with convenient access to nearby subway lines and major routes connecting Queens and Manhattan.
Overall, the asset is a full-building commercial property designed to support both owner-occupancy and long-term investment use, with renovated interiors ready for a qualified business or redeployment by an investor.
The property is located on Steinway Street in Astoria and is positioned on an established retail corridor. The offering highlights strong visibility and consistent pedestrian and vehicle traffic, along with convenient access to nearby subway lines and major routes connecting Queens and Manhattan.
Overall, the asset is a full-building commercial property designed to support both owner-occupancy and long-term investment use, with renovated interiors ready for a qualified business or redeployment by an investor.
Key Highlights
- Approximately 4,600 SF full‑building retail opportunity on Steinway Street in Astoria
- Spans three full floors plus a full basement, providing expanded usable space versus a typical storefront
- Interior has been fully renovated and is in turnkey condition for immediate occupancy
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
$82,110
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
3.04%
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%
$1,642,200
$1.6M
Cap Rate 7%
$1,173,000
$1.2M
Cap Rate 9%
$912,333
$912.3K
Market Conditions
NOI Build-Up for 4,600 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
$138.0K $30.00/SF
− Vacancy
−$20.7K −$4.50/SF
EGI
$117.3K $25.50/SF
− OpEx
−$35.2K −$7.65/SF
NOI
$82.1K $17.85/SF
Area
Queens County, NY
Vacancy
15.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,642,200
Cap Rate 7%
$1,173,000
Cap Rate 9%
$912,333
Alternative Uses
Best Use
Retail
$1.17M
$1.03M – $1.37M
NOI $82,110 @ 7.0% cap · market cap 3.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.39M
$2.97M – $3.96M
NOI $237,382 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,465
Businesses Nearby
58k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 50%
Shops & Services 39%
Home Improvements & Furnishings 11%
Lidl
Groceries
29,153 visits/mo
0.2 miles
Dollar Tree
Shops & Services
17,460 visits/mo
0.3 miles
Sherwin-Williams Paint Store
Home Improvements & Furnishings
5,669 visits/mo
0.2 miles
Prime Storage
Shops & Services
4,023 visits/mo
0.3 miles
Napa Auto Parts
Shops & Services
863 visits/mo
0.2 miles
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Renovated full-building retail space spans three floors plus a basement, offering turnkey condition for immediate occupancy.
Where is this retail space located?
The property is located at 30-75 Steinway Street Astoria, NY.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Approximately 4,600 SF full‑building retail opportunity on Steinway Street in Astoria; Spans three full floors plus a full basement, providing expanded usable space versus a typical storefront; Interior has been fully renovated and is in turnkey condition for immediate occupancy
