Astoria Multifamily Property for
For Sale
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32-80 30th St, Astoria, NY 11106
Four-story multifamily property in Astoria with eight residential units.
Property Size7,228 SF
Price / SF$498.06
Days on Market193
Property Features for 32-80 30th St
General Information
Standard status
Active
Size
7,228 SF
Class
A
Property subtype
Multifamily
Zoning
R5
Occupancy
100%
Net Operating Income
$207,690
Building Details
Year Built
1983
Buildings
1
Stories
4
Units
8
Listing Agency:
Safdie Realty Group
Listed By:
Roni Yaghoobzar · License #NY 10401324145
Source:
Crexi
Added: Feb 11
Changed: Aug 15
Last Checked: Aug 23 at 8:20AM
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 Safdie Realty Group
Investment Insights
Based on property information with market context.
Located in Astoria, New York, the property at 32-80 30th Street is a four-story multifamily walk-up building. The building has a brick exterior and contains 7,228 square feet of space. The property includes eight residential units, each featuring three bedrooms and one bathroom. The units have been renovated while retaining original architectural details. The property is located between Broadway and 34th Avenue, a few blocks from the Broadway Station, which provides access to the N and W train lines, and the Steinway Street Station, which provides access to the E, F, M, and R train lines, offering convenient access to Manhattan.
Key Highlights
- Convenient access to Manhattan via nearby Broadway (N, W trains) and Steinway Street (E, F, M, R trains) subway stations.
- Large, 4‑story brick multifamily building with 7,228 square feet of space.
- Consists of eight (8) residential units.
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
$176,684
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
4.91%
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%
$3,533,680
$3.5M
Cap Rate 7%
$2,524,057
$2.5M
Cap Rate 9%
$1,963,156
$2.0M
Market Conditions
NOI Build-Up for 7,228 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
$333.9K $46.20/SF
− Vacancy
−$12.7K −$1.76/SF
EGI
$321.2K $44.44/SF
− OpEx
−$144.6K −$20.00/SF
NOI
$176.7K $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 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%
$3,533,680
Cap Rate 7%
$2,524,057
Cap Rate 9%
$1,963,156
Alternative Uses
Best Use
Apartment 5plus
$2.52M
$2.21M – $2.94M
NOI $176,684 @ 7.0% cap · market cap 4.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.33M
$4.66M – $6.22M
NOI $372,999 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,065
Businesses Nearby
Explore this area
Business Placement
Demographics for 11106, NY
41,722
Population
21,681
Households
1.9
Avg Household Size
37
Median Age
52%
College-Educated
89%
High-School Grad
0.9 sq mi
ZIP Area
46,358
Density / Sq Mi
$85,573
Median Household Income
$62,254
Median Earnings
$2,032
Median Rent
$639,200
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?
Apartment building - Four-story multifamily property in Astoria with eight residential units.
Where is this apartment building located?
The property is located at 32-80 30th St Astoria, NY.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: Convenient access to Manhattan via nearby Broadway (N, W trains) and Steinway Street (E, F, M, R trains) subway stations.; Large, 4‑story brick multifamily building with 7,228 square feet of space.; Consists of eight (8) residential units.
