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    25-34 Steinway St Queens, NY 11103

    Sponsored
    For Sale
    $9,875,000

    Prime Queens location, fully leased.

    Property size:
    22,155 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 22,155 square foot mixed-use building, constructed in 2017, presents a lucrative investment opportunity in Astoria, Queens. The four-story property boasts 13 units: two ground-floor commercial spaces with basement access, four one-bedroom units on the second and third floors each, and two two-bedroom, two-bathroom units on the fourth floor. Currently fully leased, this asset benefits from a prime location within a high-demand retail corridor in Queens, offering exceptional convenience to tenants due to its proximity to public transportation. The building includes added revenue streams from on-site coin-operated laundry and storage lockers. Significant tax advantages are available through the 421-a tax abatement for the residential units and an ICAP abatement for the commercial units. Tenants are responsible for their own heating costs, minimizing operational expenses for the owner. The property is zoned C 2-3, reflecting its versatile commercial and residential capabilities. This is a rare opportunity to acquire a new construction, fully leased, mixed-use building with substantial tax benefits and strong rental income potential in a thriving Queens neighborhood. The asking price is $9,875,000.

    Property Features for 25-34 Steinway St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    22,155 SF

    Building Details

    Year Built
    2017
    Stories
    4
    Units
    13

    HighLights

    • $9,875,000 asking price for a fully leased mixed‑use building.
    • Prime Astoria, Queens location in a high‑traffic retail corridor.
    • New construction (2017), 22,155 square feet, 13 units (2 commercial, 11 residential).
    • 421‑a tax abatement for residential units and ICAP abatement for commercial units.
    • On‑site laundry and storage.
    Property Profile Location Intelligence

    Current Use by Public Records

    Sitan Gym Muay ... Martial Arts School steinwayhouse Apartment Building Gorillas Astoria Grocery Delivery Service Urban Modesty Queens Women'S Clothing Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Queens
    County
    Queens
    State
    New York
    Longitude
    -73.91242566118
    Latitude
    40.767020185383

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    FAQs

    What type of property is this?
    Mixed-use property - Prime Queens location, fully leased.
    Where is this mixed-use property located?
    The property is located at 25-34 Steinway St Queens, NY.
    What is the asking price?
    The asking price for this property is $9,875,000.
    What are key features of this property?
    This property features: $9,875,000 asking price for a fully leased mixed-use building.; Prime Astoria, Queens location in a high-traffic retail corridor.; New construction (2017), 22,155 square feet, 13 units (2 commercial, 11 residential).
    (347) 242-0353
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    25-34 Steinway St Queens, NY 11103
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    Queens, NY 11103
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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
    25-34 Steinway St Queens, NY 11103
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