Mixed-Use Building with
4509 28th Avenue, Astoria, NY 11103
For Sale
$1,738,000
Two apartments occupy the upper floor, with a commercial space configured as an attorney’s office at street level.
Property Size2,600 SF
Price / SF$668.46
Days on Market33
Property Features for 4509 28th Avenue
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Public Transit
Utilities to Site
Units
Unit Mix
Multifamily Units
Office Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
EXP Realty
Listed By:
Xingye Fu
(516) 336-9417
Source:
Serhant
Added: Oct 13
Changed: Nov 13
Last Checked: Nov 12 at 6:44PM
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 EXP Realty
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Investment Insights
Based on property information with market context.
This mixed-use building contains approximately 2,600 square feet across a ground-floor commercial space and two second-floor apartments: one with two bedrooms and one bathroom, and another with one bedroom and one bathroom. The commercial area is configured as an attorney’s office. The property is vacant and was built in 1928, with an approximately 20-by-65-foot building footprint. Separate utility systems include three electric meters, three gas meters, three gas heat boilers, and three hot water tanks. Roof waterproofing has been updated, and the property is zoned R5.
Located in Astoria, the property is near E, F, M, and R subway lines, as well as shopping, restaurants, and neighborhood amenities.
Located in Astoria, the property is near E, F, M, and R subway lines, as well as shopping, restaurants, and neighborhood amenities.
Key Highlights
- Two residential apartments: one 2‑bedroom, 1‑bathroom unit and one 1‑bedroom, 1‑bathroom unit
- Approximately 2,600 sq. ft. of interior space
- Ground‑floor commercial space configured as an attorney’s office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,555
Cap Rate
3.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,271,100
$1.3M
Cap Rate 7%
$907,929
$907.9K
Cap Rate 9%
$706,167
$706.2K
Market Conditions
NOI Build-Up for 2,600 SF
Gross rent
$120.1K $46.20/SF
− Vacancy
−$4.6K −$1.76/SF
EGI
$115.6K $44.44/SF
− OpEx
−$52.0K −$20.00/SF
NOI
$63.6K $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%
$1,271,100
Cap Rate 7%
$907,929
Cap Rate 9%
$706,167
Alternative Uses
Best Use
Apartment 5plus
$907.9K
$794.4K – $1.06M
NOI $63,555 @ 7.0% cap · market cap 3.66%
Second Best
Mixed Use
$478.0K
$418.3K – $557.7K
NOI $33,462 @ 7.0% cap · market cap 1.93%
Theoretical Best
Office A
$1.92M
$1.68M – $2.24M
NOI $134,172 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Office units
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,766
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
$1,003,500
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Queens County, NY
Properties on Market for Mixed-use properties in Queens County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two apartments occupy the upper floor, with a commercial space configured as an attorney’s office at street level.
Where is this mixed-use property located?
The property is located at 4509 28th Avenue Astoria, NY.
What is the asking price?
The asking price for this property is $1,738,000.
What are key features of this property?
This property features: Two residential apartments: one 2‑bedroom, 1‑bathroom unit and one 1‑bedroom, 1‑bathroom unit; Approximately 2,600 sq. ft. of interior space; Ground‑floor commercial space configured as an attorney’s office
