Mixed-Use Property with
For Sale
$2,980,000
3072 Steinway St, Astoria, NY 11103
C4-2A / R6A property combines street-level retail with two upper-floor three-bedroom apartments.
Property Size2,260 SF
Lot Size0.05 Acres
Price / SF$1,318
Days on Market414
Property Features for 3072 Steinway St
General Information
Standard status
Active
Size
2,260 SF
Lot size
0.05 Acres
Property subtype
Mixed Use
Zoning
C4-2A / R6A
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Amenities
Electric
3
Building Details
Buildings
1
Stories
3
Tenancy
Single
Listing Agency:
P R O Links Realty Inc
(917) 418-8233
Listed By:
Siang Liu
(917) 418-8233
Source:
Xome
Added: Jul 14, 2025
Changed: Aug 30
Last Checked: Aug 31 at 12:36PM
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 P R O Links Realty Inc
Investment Insights
Based on property information with market context.
This mixed-use building on Steinway Street pairs a street-facing retail component with residential space above. The ground floor includes a commercial area with an existing gas line, while the second and third floors each contain a three-bedroom apartment of approximately 1,350 SF. The property occupies a 25' x 90' lot and has a 22' x 61' building footprint.
Located in Astoria, the property is a few blocks from multiple subway stations and sits along the Steinway Street retail corridor. C4-2A / R6A zoning supports the existing combination of commercial and residential space.
Located in Astoria, the property is a few blocks from multiple subway stations and sits along the Steinway Street retail corridor. C4-2A / R6A zoning supports the existing combination of commercial and residential space.
Key Highlights
- Mixed‑use property with street‑level retail and two upper‑floor apartments
- 25' x 90' lot with a 22' x 61' existing building footprint
- Second- and third‑floor apartments each offer 3 bedrooms and approximately 1,350 SF
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
$104,598
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
3.51%
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%
$2,091,960
$2.1M
Cap Rate 7%
$1,494,257
$1.5M
Cap Rate 9%
$1,162,200
$1.2M
Market Conditions
NOI Build-Up for 2,260 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
$149.2K $66.00/SF
− Vacancy
−$9.7K −$4.29/SF
EGI
$139.5K $61.71/SF
− OpEx
−$34.9K −$15.43/SF
NOI
$104.6K $46.28/SF
Area
Queens County, NY
Vacancy
6.50%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,091,960
Cap Rate 7%
$1,494,257
Cap Rate 9%
$1,162,200
Alternative Uses
Best Use
Specialty Retail
$1.49M
$1.31M – $1.74M
NOI $104,598 @ 7.0% cap · market cap 3.51%
Second Best
Apartment 5plus
$789.2K
$690.6K – $920.7K
NOI $55,244 @ 7.0% cap · market cap 1.85%
Theoretical Best
Office A
$1.67M
$1.46M – $1.94M
NOI $116,627 @ 7.0% cap · market cap 3.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
7,351
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - C4-2A / R6A property combines street-level retail with two upper-floor three-bedroom apartments.
Where is this mixed-use property located?
The property is located at 3072 Steinway St Astoria, NY.
What is the asking price?
The asking price for this property is $2,980,000.
What are key features of this property?
This property features: Mixed‑use property with street‑level retail and two upper‑floor apartments; 25' x 90' lot with a 22' x 61' existing building footprint; Second- and third‑floor apartments each offer 3 bedrooms and approximately 1,350 SF
