For Sale
$1,750,000
32-63 41St St, Astoria, NY 11103
Significant Income and Development Opportunity Around The Block Steinway St Subways & Broadway!
Property Size2,400 SF
Price / SF$729.17
Days on Market213
Property Features for 32-63 41St St
General Information
Standard status
Active
Property type
Multifamily properties, Duplexes, Triplexes, Residential income properties
Size
2,400 SF
Total Parking Spaces
7
Elevators
No
Building Details
Year Built
1945
Year Renovated
1997
Buildings
1
Stories
3
Units
3
Listed By:
John Chong Hong
(718) 640-4431
Added: Mar 18
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Investment Insights
Based on property information with market context.
Key Highlights
- Significant versatile investment, land value appreciation & qualified federal, New york city community development tax opportunity zone! Spacious 4k square feet lot with a 7 car driveway and 20 feet of street frontage.
- Around the block from the Steinway street E,F,M,R subways and Broadway.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,667
Cap Rate
3.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,173,340
$1.2M
Cap Rate 7%
$838,100
$838.1K
Cap Rate 9%
$651,856
$651.9K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$110.9K $46.20/SF
− Vacancy
−$4.2K −$1.76/SF
EGI
$106.7K $44.44/SF
− OpEx
−$48.0K −$20.00/SF
NOI
$58.7K $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 Rate 5%
$1,173,340
Cap Rate 7%
$838,100
Cap Rate 9%
$651,856
Alternative Uses
Best Use
Apartment 5plus
$838.1K
$733.3K – $977.8K
NOI $58,667 @ 7.0% cap · market cap 3.35%
Second Best
Multifamily LT 5
$567.5K
$496.6K – $662.1K
NOI $39,724 @ 7.0% cap · market cap 2.27%
Theoretical Best
Office A
$1.77M
$1.55M – $2.06M
NOI $123,852 @ 7.0% cap · market cap 7.08%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
6,597
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Significant Income and Development Opportunity Around The Block Steinway St Subways & Broadway!
Where is this multifamily property located?
The property is located at 32-63 41St St Astoria, NY.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Significant versatile investment, land value appreciation & qualified federal, New york city community development tax opportunity zone! Spacious 4k square feet lot with a 7 car driveway and 20 feet of street frontage.; Around the block from the Steinway street E,F,M,R subways and Broadway.
