Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    31-19 Newtown Ave Astoria, NY 11102

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Prime Astoria medical office, 2,560 sqft.

    Lot size:
    2,560 SF

    Property Features for 31-19 Newtown Ave

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    2,560 SF

    Spaces For Lease

    at 31-19 Newtown Ave, Astoria, NY 11102 Contact us

    We can help!

    Listing Contact
    David B. Sargoy
    David B. Sargoy

    Listing Agency: Brown Harris Stevens Commercial Real Estate, LLC Listing Agent: David B. Sargoy

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This 2,560 square foot medical office space in Astoria, Queens County, New York, is currently fully vacant and available for lease. The property is located at 31-19 Newtown Avenue, zip code 11102, and features two elevators. The building allows for multiple tenancies, with a minimum divisible space of 1,520 square feet and a maximum contiguous space of 1,040 square feet. Heat is included in the rental rate. Electricity and air conditioning are separately metered at a rate of $3.75 per square foot. Parking is available in a garage, as well as on the street. A work letter is negotiable. The property is ideally suited for medical practices or other office uses, and benefits from its excellent location in Astoria. The property is situated in Queens County, New York, and offers a convenient and accessible location for patients and staff. This is a fantastic opportunity to secure a well-located and versatile medical office space in a thriving neighborhood.
    Property Profile Location Intelligence

    Current Use by Public Records

    LML LLC Employment Agency Astoria Periodontics & Implants Dental Office Sacco & Fillas LLP Law Firm Luciana G Ares ... Dental Office Kokis & Associates Law Firm

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Astoria
    County
    Queens
    State
    New York
    Longitude
    -73.9202294
    Latitude
    40.7671967

    Nearby Similar for Lease

    • $4,200 /Mo
      2,000 SF

      Turnkey Medical Suite in Astoria

      Move-in-ready medical office in a high-traffic Astoria location.
      23-12 21St Ave, Astoria, NY 11105
      View Details
    • $3,000 /Mo
      1,500 SF

      Astoria Office Space for Lease

      1500 SF office space in Long Island City, Queens.
      2409 41St Ave, Astoria, NY 11101
      View Details
    • $7,500 /Mo
      13,915 SF

      Astoria Warehouse with Office Space

      Commercial loft featuring open floor plan, offices, and natural light.
      1005 35Th Ave, Astoria, NY 11106
      View Details
    • New
      $4,000 /Mo
      720 SF

      Astoria Retail or Office Space

      720 SF retail or office space in prime Astoria location.
      25-59 31St St, Astoria, NY 11102
      View Details
    • $15,000 /Mo

      Renovated Retail/Commercial Space in Astoria

      4,600 SF renovated retail/commercial space in prime Astoria location.
      30-75 Steinway St, Astoria, NY 11103
      View Details
    • $85 SF/Yr

      New Retail Space in Astoria

      New construction retail space in a luxury boutique building.
      31-16 21St St, Astoria, NY 11106
      View Details
    • $2,000 /Mo
      400 SF

      Furnished Astoria Office Near Transit

      Turnkey office space in prime Astoria location near N/W train.
      22-45 31St St, Astoria, NY 11105
      View Details
    • $3,300 /Mo
      1,100 SF

      Modern Office Space in Astoria

      Move-in-ready office space in a prime Astoria location.
      3119 Newtown Ave, Astoria, NY 11102
      View Details
    • $3,500 /Mo
      1,300 SF

      Renovated Office Space in Astoria

      Renovated office space suitable for various businesses in Astoria.
      18-37 Steinway St, Astoria, NY 11105
      View Details
    • Contact for pricing
      15,000 SF

      Newly Rehabbed Astoria Warehouse

      Newly rehabbed industrial warehouse in Astoria, New York available for lease.
      2004 33Rd St, Astoria, NY 11105
      View Details
    • $6,600 /Mo
      2,178 SF

      Retail Space on Ditmars Blvd

      Prime commercial space near Astoria - Ditmars Blvd subway station.
      28-13 Ditmars Blvd, Astoria, NY 11105
      View Details
    • $4,500 /Mo
      1,400 SF

      Astoria Office Space with Terrace

      1400 SF office space with direct street access.
      31-22 Steinway St, Astoria, NY 11105
      View Details

    FAQs

    What type of property is this?
    Medical office - Prime Astoria medical office, 2,560 sqft.
    Where is this medical office located?
    The property is located at 31-19 Newtown Ave Astoria, NY.
    What are key features of this property?
    This property features: On-site concierge services.; Two high-speed elevators.; Fully ADA compliant.
    (516) 203-8134 Call to check price and availability
    Request Owner's contact information
    31-19 Newtown Ave Astoria, NY 11102
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    31-19 Newtown Ave
    Astoria, NY 11102
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    31-19 Newtown Ave Astoria, NY 11102
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing David B. Sargoy
    David B. Sargoy
    (516) 203-8134 (917) 805-6441 (516) 203-8100
    Learn more
    Google sign-in failed. Please try again or use another login method.