Mixed-Use Brick Astoria Corner
For Sale
$3,200,000
4229 Newtown Rd, Queens, NY 11103
Mixed-use building with residential and commercial units in Astoria.
Property Size5,408 SF
Lot Size0.15 Acres
Days on Market157
Property Features for 4229 Newtown Rd
General Information
Standard status
Active
Size
5,408 SF
Lot size
0.15 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$57,046
Building Details
Building Size
5,408 SF
Year Built
1928
Units
6
Listing Agency:
Golden One Realty Group LLC
(347) 539-0052
Listed By:
Alina Yukhtman · License #10491212763
(347) 539-0052
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 4:42AM
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 Golden One Realty Group LLC
Investment Insights
Based on property information with market context.
This mixed-use brick corner building is located in the heart of Astoria. The property features four residential units and two commercial units. The ground floor contains the two commercial units. Two apartments have two bedrooms and one bathroom each, while the other two apartments have one bedroom and one bathroom each. The lot size is 101 x 66. The property is zoned R5 with a C1-2 overlay. Situated a few blocks from subway lines R, F, E, N, and W, the location offers access to retail space. This property is suitable for passive income and investment.
Key Highlights
- Mixed‑use brick corner building in the heart of Astoria.
- Four residential units and two commercial units, ideal for income generation.
- Excellent location, a few blocks from R, F, E, N, and W subway lines.
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
$132,195
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
4.13%
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%
$2,643,900
$2.6M
Cap Rate 7%
$1,888,500
$1.9M
Cap Rate 9%
$1,468,833
$1.5M
Market Conditions
NOI Build-Up for 5,408 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
$249.8K $46.20/SF
− Vacancy
−$9.5K −$1.76/SF
EGI
$240.4K $44.44/SF
− OpEx
−$108.2K −$20.00/SF
NOI
$132.2K $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%
$2,643,900
Cap Rate 7%
$1,888,500
Cap Rate 9%
$1,468,833
Alternative Uses
Best Use
Apartment 5plus
$1.89M
$1.65M – $2.20M
NOI $132,195 @ 7.0% cap · market cap 4.13%
Second Best
Retail
$1.38M
$1.21M – $1.61M
NOI $96,533 @ 7.0% cap · market cap 3.02%
Theoretical Best
Office A
$3.99M
$3.49M – $4.65M
NOI $279,079 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,612
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with residential and commercial units in Astoria.
Where is this mixed-use property located?
The property is located at 4229 Newtown Rd Queens, NY.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Mixed‑use brick corner building in the heart of Astoria.; Four residential units and two commercial units, ideal for income generation.; Excellent location, a few blocks from R, F, E, N, and W subway lines.
