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    25-76 Steinway St Queens, NY 11103

    Sponsored
    For Sale
    $2,250,000

    Prime Astoria location: 3-unit building with store.

    Property size:
    1,989 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use property, located at 25-76 Steinway Street in Astoria, Queens, NY 11103, presents a compelling investment opportunity. The building boasts a total of 1,989 square feet and comprises three units: a 1,100-square-foot ground-floor convenience store/grocery storefront with a full basement, and two 1,000-square-foot apartments on the upper floors. The property sits on a 1,781-square-foot lot and is zoned C4-2. The store currently has a lease in place with a remaining term of four years, extending to August 2028. The apartments are currently vacant, offering immediate potential for rental income. The building, constructed in 2010, is a three-story structure in excellent condition. The property enjoys a prime location in a highly desirable area, characterized by high pedestrian traffic and proximity to Astoria Park, the subway, and LaGuardia Airport. This translates to strong rental demand for both commercial and residential spaces. The current annual net operating income (NOI) is $124,400, representing a 5.53% cap rate on the asking price of $2,250,000. This is a rare opportunity to acquire a well-situated mixed-use property with significant upside potential in a thriving Queens neighborhood. The property is offered as an owner/user investment.

    Property Features for 25-76 Steinway St

    General Information

    Property type
    Individual retail properties
    Square Feet
    1,989 SF
    Class
    C

    Building Details

    Year Renovated
    2010
    Buildings
    1
    Stories
    3
    Units
    3

    HighLights

    • High pedestrian traffic counts.
    • Excellent walkability.
    • Convenient subway access.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    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
    -73.913160090069
    Latitude
    40.76612983781

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    FAQs

    What type of property is this?
    Individual retail property - Prime Astoria location: 3-unit building with store.
    Where is this individual retail property located?
    The property is located at 25-76 Steinway St Queens, NY.
    What is the asking price?
    The asking price for this property is $2,250,000.
    What are key features of this property?
    This property features: High pedestrian traffic counts.; Excellent walkability.; Convenient subway access.
    Request Owner's contact information
    25-76 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
    25-76 Steinway St Queens, NY 11103
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