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    36-38 31St St Queens, NY 11106

    Sponsored
    For Sale
    $5,650,000

    Eleven-unit building, prime Astoria location

    Property size:
    9,932 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional eleven-unit mixed-use building in Astoria, Queens, presents a compelling investment opportunity. The four-story structure encompasses 9,932 square feet of net rentable space, featuring nine residential units and two commercial units situated on the ground floor. Each residential unit is designed with contemporary finishes, offering comfortable living spaces. The commercial units are ideally positioned to capitalize on the high foot traffic of this vibrant neighborhood. The property benefits from significant tax advantages, including a 421A tax abatement extending until 2031 for the residential units and an ICAP tax abatement for the commercial units until 2030. Located in the heart of Astoria, this property enjoys convenient access to public transportation, being a short ten-minute walk from the subway and nearby retail corridors. The building is zoned R6A, C1-3, offering flexibility and potential for future development. With its blend of residential and commercial income streams, this property offers a strong return on investment in a highly desirable and rapidly developing area of Queens. The asking price is $5,650,000.

    Property Features for 36-38 31St St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    9,932 SF

    Building Details

    Buildings
    1
    Stories
    4
    Units
    11

    HighLights

    • $5,650,000 asking price for an eleven‑unit mixed‑use building.
    • 9,932 square feet, net rentable.
    • Four‑story building with eleven units (nine residential, two commercial).
    • Located at 36‑38 31st St, Queens, NY 11106, zoned R6A, C1‑3.
    • 421A tax abatement until 2031 and ICAP tax abatement until 2030.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Queens
    County
    Queens
    State
    New York
    Longitude
    -73.9307965
    Latitude
    40.7557077

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    FAQs

    What type of property is this?
    Mixed-use property - Eleven-unit building, prime Astoria location
    Where is this mixed-use property located?
    The property is located at 36-38 31St St Queens, NY.
    What is the asking price?
    The asking price for this property is $5,650,000.
    What are key features of this property?
    This property features: $5,650,000 asking price for an eleven-unit mixed-use building.; 9,932 square feet, net rentable.; Four-story building with eleven units (nine residential, two commercial).
    (347) 242-0353
    Request Owner's contact information
    36-38 31St St Queens, NY 11106
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    Queens, NY 11106
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    Realmo Value Estimation

    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.

    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.

    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
    36-38 31St St Queens, NY 11106
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