Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Space Near Subway Title is generated by Realmo AI

    3063 31st Street C3, Astoria, NY 11102

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $8,000 /Mo

    Second-floor commercial space suitable for office or training center.

    Type:Rental
    Added:
    Dec 10, 2024
    Days on Market:
    528
    Last Refresh:
    May 19 at 10:22 pm

    Property Features for 3063 31st Street C3

    General Information

    Standard status
    Active
    Property subtype
    Rental

    We can help!

    Listing Contact
    Man Jiang

    Listing agent Man Jiang License #10401251242

    Listing office E Realty International Corp

    Listing date Dec 10, 2024

    Source Exitrealty

    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 E Realty International Corp

    HighLights

    • Great location: just a 3‑minute walk to the subway.
    • Brand new bricks and concrete building.
    • Suitable for various businesses: office, training center, etc.
    • Commercial space available for lease or sale.
    • Busy street location.
    • Nice neighborhood.

    Overview

    This commercial space is available for lease or sale on the second floor of a newly constructed brick and concrete building. The property is suitable for various uses, including an office or training center. It benefits from a location in a desirable neighborhood on a busy street, with convenient access to transportation, being just a 3-minute walk to the subway. Any legal business is welcome.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Astoria
    County
    Queens
    State
    New York
    Longitude
    -73.92271
    Latitude
    40.76475

    Nearby Similar for Lease

    • $3,000/Mo
      2,000 SF

      Turnkey Medical Suite in Astoria

      Move-in-ready medical office in Ditmars-Steinway neighborhood.
      23-12 21st Avenue, Astoria, NY 11105
      View Details
    • $6,000/Mo
      2,200 SF

      Finished Office Space in Astoria

      Full-service office space in prime Astoria, Queens for rent.
      2449 47th Street, Astoria, NY 11103
      View Details
    • $13,500/Mo
      4,600 SF

      Astoria Retail Full-Building Opportunity

      4,600 SF retail space ideal for showroom or medical use.
      30-75 Steinway Street, Astoria, NY 11103
      View Details
    • $66 SF/Yr
      1,202 SF

      Astoria Retail Corner Space Available

      New construction retail space in a high-traffic Astoria location.
      31-16 21st Street, Astoria, NY 11106
      View Details
    • $13,935/Mo
      5,225-5,225 SF

      Astoria Warehouse with High Ceilings

      Astoria warehouse with soaring ceilings and heavy power for lease.
      2636 2Nd St, Astoria, NY 11102
      View Details
    • $7,600/Mo
      2,050 SF

      Turnkey Restaurant Space Available

      Restaurant space with beer & wine license in Astoria.
      37-14 31st Ave, Astoria, NY
      View Details
    • $4,000/Mo
      1,400 SF

      Astoria Office Space with Terrace

      1400 SF office space with direct street access.
      31-22 Steinway St, Astoria, NY
      View Details
    • Contact for pricing
      6,500 SF

      Turnkey Medical Office in Astoria

      6,500 SF medical office space available for lease.
      23-22 30th Ave., astoria, NY 11102
      View Details
    • $36,250 SF/Yr
      15,000 SF

      Newly Rehabbed Astoria Warehouse

      Newly rehabbed industrial warehouse in Astoria, New York available for lease.
      2004 33rd St, Astoria, NY
      View Details
    • Contact for pricing
      2,400 SF

      Restaurant Space with Mezzanine

      Restaurant space featuring an open floor plan and mezzanine level.
      1106 31st Dr, Astoria, NY
      View Details
    • Contact for pricing
      2,000 SF

      Astoria Retail Space Available

      2000 SF retail space for rent in Astoria.
      3094 Steinway St, Astoria, NY
      View Details
    • $9,000/Mo
      4,500 SF

      Turn Key Office Space

      Office space for rent with high ceilings and hardwood floors.
      3627 36th St, Astoria, NY
      View Details

    FAQs

    What type of property is this?
    Office units - Second-floor commercial space suitable for office or training center.
    Where is this office units located?
    The property is located at 3063 31st Street C3 Astoria, NY.
    What is the lease rate?
    The lease rate is $8,000 /Mo.
    What are key features of this property?
    This property features: Great location: just a 3‑minute walk to the subway.; Brand new bricks and concrete building.; Suitable for various businesses: office, training center, etc.
    (718) 886-8110
    We can help!
    Listing Contact
    Man Jiang
    Real Estate License ID: 10401251242
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3063 31st Street C3, Astoria, NY 11102
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!