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    High-Visibility Broadway Retail Storefront Title is generated by Realmo AI

    38-08 Broadway, Astoria, NY 11103

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    Storefront retail space with strong frontage and visibility near Broadway and Steinway Street.

    Type:Retail
    Added:
    Jun 2, 2026
    Days on Market:
    5
    Last Refresh:
    Jun 6 at 4:06 am

    Property Features for 38-08 Broadway

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Spaces For Lease

    at 38-08 Broadway Contact us

    We can help!

    Listing Contact
    Kenneth Schuckman

    Listing agent Kenneth Schuckman License #NY 1861183

    Listing office Schuckman Realty Inc

    Listing date Jun 2, 2026

    Source Crexi

    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 Schuckman Realty Inc

    HighLights

    • Retail storefront with strong frontage and high visibility along Broadway.
    • Located near the intersection of Broadway & Steinway Street in Astoria.
    • Property benefits from co‑tenancy with strong national and local retailers in the area.
    • Astoria Broadway/Steinway trade area includes more than 1,000 new residential units delivered, under construction, or planned.

    Overview

    This for-lease retail storefront offers excellent frontage and visibility along Broadway, positioned to capture consistent street-level attention. The space is presented as a high-exposure retail location within a busy commercial corridor.

    The property sits near the intersection of Broadway and Steinway Street in Astoria, Queens. The surrounding area is described as having strong national and local co-tenancy, and it benefits from ongoing residential development activity along the Broadway and Steinway corridors. Public remarks note more than 1,000 new residential units recently delivered, under construction, or planned across the broader trade area, supporting neighborhood retail demand through increased pedestrian activity and consumer density.

    For retailers looking to establish or expand street-facing presence, this location’s emphasis on visibility and neighborhood foot traffic is a practical fit. The asset’s storefront orientation along Broadway aligns well with concepts that rely on walk-in customers and impulse visits, while the corridor co-tenancy profile can help provide a supportive mix of nearby shopping destinations.
    Location Intelligence

    Current Use by Public Records

    T-Mobile Mobile Phone Store

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Caroline LaRocca Event Design
    • Long Island City Florist — 3537 36th St, Astoria, NY 11106
    • Burgos Design and Events — 25-21 36th Ave, Queens, NY 11106
    • Natural Flowers — 32-15 36th Ave, Astoria, NY 11106
    • Botanique Floral and Design — 34-01 38th ave, queens, ny 11101

    Location Insight

    • Map
    • Local Demand
    City
    Astoria
    County
    Queens
    State
    New York
    Longitude
    -73.932471
    Latitude
    40.765346

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    FAQs

    What type of property is this?
    Storefront property - Storefront retail space with strong frontage and visibility near Broadway and Steinway Street.
    Where is this storefront property located?
    The property is located at 38-08 Broadway Astoria, NY.
    What are key features of this property?
    This property features: Retail storefront with strong frontage and high visibility along Broadway.; Located near the intersection of Broadway & Steinway Street in Astoria.; Property benefits from co‑tenancy with strong national and local retailers in the area.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Kenneth Schuckman
    Real Estate License ID: NY 1861183
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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