Six-Story Mixed-Use
For Sale
Contact for pricing
37-10 31st Avenue, Astoria, NY 11103
Modern residential and retail property with an elevator, updated building systems, and select apartments offering private outdoor space.
Property Size8,366 SF
Price / SF$788.91
Days on Market53
Property Features for 37-10 31st Avenue
General Information
Standard status
Active
Size
8,366 SF
Elevators
Yes
Property subtype
Retail, Multifamily, Mixed Use
Additional Details
Public Transit
Yes
Multifamily Units
9
Amenities
private outdoor space
Building Details
Year Built
2013
Buildings
1
Stories
6
Listing Agency:
SERHANT
Listed By:
Jade Shenker · License #10401352442
(786) 300-2869
Source:
Crexi
Added: Sep 9
Changed: Oct 25
Last Checked: Oct 30 at 2:02PM
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 SERHANT
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Investment Insights
Based on property information with market context.
Completed in 2013, this six-story mixed-use building combines nine residential apartments with a ground-floor retail component totaling approximately 8,366 square feet. The property includes an elevator, modern building systems, and private outdoor space attached to select apartments. A 421-a tax abatement remains in place through 2031.
The building is located at 37-10 31st Avenue in Astoria, along an established commercial corridor near restaurants, shops, and daily conveniences. Nearby N/W subway service provides access to Midtown Manhattan. The combination of residential occupancy, street-level retail, contemporary construction, and transit connectivity creates a diversified property configuration.
The building is located at 37-10 31st Avenue in Astoria, along an established commercial corridor near restaurants, shops, and daily conveniences. Nearby N/W subway service provides access to Midtown Manhattan. The combination of residential occupancy, street-level retail, contemporary construction, and transit connectivity creates a diversified property configuration.
Key Highlights
- Nine residential apartments plus ground‑floor retail space
- Approximately 8,366 square feet across a six‑story building
- Built in 2013 with modern building systems and an elevator
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$204,502
Cap Rate
3.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,090,040
$4.1M
Cap Rate 7%
$2,921,457
$2.9M
Cap Rate 9%
$2,272,244
$2.3M
Market Conditions
NOI Build-Up for 8,366 SF
Gross rent
$386.5K $46.20/SF
− Vacancy
−$14.7K −$1.76/SF
EGI
$371.8K $44.44/SF
− OpEx
−$167.3K −$20.00/SF
NOI
$204.5K $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%
$4,090,040
Cap Rate 7%
$2,921,457
Cap Rate 9%
$2,272,244
Alternative Uses
Best Use
Apartment 5plus
$2.92M
$2.56M – $3.41M
NOI $204,502 @ 7.0% cap · market cap 3.10%
Second Best
Retail
$2.13M
$1.87M – $2.49M
NOI $149,333 @ 7.0% cap · market cap 2.26%
Theoretical Best
Office A
$6.17M
$5.40M – $7.20M
NOI $431,726 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
8,159
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Modern residential and retail property with an elevator, updated building systems, and select apartments offering private outdoor space.
Where is this mixed-use property located?
The property is located at 37-10 31st Avenue Astoria, NY.
What is the asking price?
The asking price for this property is $6,600,000.
What are key features of this property?
This property features: Nine residential apartments plus ground‑floor retail space; Approximately 8,366 square feet across a six‑story building; Built in 2013 with modern building systems and an elevator
