Mixed-Use Masonry
For Sale
$2,390,000
Pending
3076 Steinway Street, Astoria, NY 11103
Commercial Sale, Astoria, NY
Property Size4,500 SF
Lot Size0.05 Acres
Days on Market198
Property Features for 3076 Steinway Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
C4-2A
Rooms
Basement
Standard status
Pending
APN
00660-0180
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
35344
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Central Air
Water source
Public
Building Details
Year built
1928
Building materials
Asbestos
Listing Agency:
EXP Realty
(888) 276-0630
Listed By:
Zhao Li · License #10401361860
(347) 399-8556
Added: Feb 14
Changed: Aug 31
Last Checked: Aug 31 at 9:06PM
MLS# 961702
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use masonry property was built in 1928 and includes two levels above a full basement with 10-foot ceilings. The second floor has approved plans for two independent three-bedroom, two-bathroom residential units, each measuring 1,125 square feet. The plans contemplate a new Certificate of Occupancy following completion of the conversion. C4-2A zoning supports the property’s mixed-use classification, while additional air rights are identified at approximately 6,777 BSF for potential vertical expansion. Building systems include baseboard heating, central air, natural gas availability, public water, and public sewer.
The property is positioned in Astoria’s South Astoria retail corridor near Starbucks, Walgreens, Banana Republic Factory Store, and Planet Fitness. Steinway St and 30th Ave subway stations are within walking distance and serve the E, F, N, W, and R lines. The source also identifies a projected CAP rate exceeding 7%.
The property is positioned in Astoria’s South Astoria retail corridor near Starbucks, Walgreens, Banana Republic Factory Store, and Planet Fitness. Steinway St and 30th Ave subway stations are within walking distance and serve the E, F, N, W, and R lines. The source also identifies a projected CAP rate exceeding 7%.
Key Highlights
- Approved plans for two 3‑bedroom, 2‑bathroom residential units on the second floor
- Each approved residential unit measures 1,125 square feet
- Full basement with 10‑foot ceiling height
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
$80,325
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
3.36%
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%
$1,606,500
$1.6M
Cap Rate 7%
$1,147,500
$1.1M
Cap Rate 9%
$892,500
$892.5K
Market Conditions
NOI Build-Up for 4,500 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
$135.0K $30.00/SF
− Vacancy
−$20.3K −$4.50/SF
EGI
$114.8K $25.50/SF
− OpEx
−$34.4K −$7.65/SF
NOI
$80.3K $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%
$1,606,500
Cap Rate 7%
$1,147,500
Cap Rate 9%
$892,500
Alternative Uses
Best Use
Retail
$1.15M
$1.00M – $1.34M
NOI $80,325 @ 7.0% cap · market cap 3.36%
Second Best
Mixed Use
$827.4K
$723.9K – $965.3K
NOI $57,915 @ 7.0% cap · market cap 2.42%
Theoretical Best
Office A
$3.32M
$2.90M – $3.87M
NOI $232,222 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
7,351
Businesses Nearby
202k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 43%
Shops & Services 25%
Groceries 23%
Electronics 5%
Burger King
Dining
36,225 visits/mo
0.5 miles
Key Food Supermarket
Groceries
20,925 visits/mo
0.4 miles
Las Margaritas
Dining
14,548 visits/mo
0.3 miles
C-Town Supermarkets
Groceries
14,284 visits/mo
0.2 miles
BP
Shops & Services
11,847 visits/mo
0.0 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?
Mixed-use property - Two-level property with basement space, C4-2A zoning, and approved plans for residential conversion.
Where is this mixed-use property located?
The property is located at 3076 Steinway Street Astoria, NY.
What is the asking price?
The asking price for this property is $2,390,000.
What are key features of this property?
This property features: Approved plans for two 3‑bedroom, 2‑bathroom residential units on the second floor; Each approved residential unit measures 1,125 square feet; Full basement with 10‑foot ceiling height
