Astoria Mixed-Use Income
For Sale
Contact for pricing
25-76 Steinway St, Queens, NY 11103
Mixed-use property with store and apartments in prime Astoria location.
Property Size1,989 SF
Price / SF$1,131
Days on Market886
Property Features for 25-76 Steinway St
General Information
Standard status
Active
Size
1,989 SF
Class
C
Property subtype
Mixed Use, Retail
Zoning
C4-2
Lease Type
Modified Gross
Investment Type
Owner/User
Net Operating Income
$124,400
Building Details
Year Renovated
2010
Buildings
1
Stories
3
Units
3
Tenancy
Multi
Listing Agency:
RE/MAX Team
(917) 806-7040
Listed By:
Victor Weinberger · License #NY
Source:
Crexi
Added: Mar 19, 2024
Changed: Aug 10
Last Checked: Aug 20 at 9:11PM
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 RE/MAX Team
Investment Insights
Based on property information with market context.
This mixed-use property is located in a prime area of Astoria and features a two-family layout with a grocery store. The store spans 1,100 square feet and includes a full basement. Each of the two apartments offers 1,000 square feet of living space. The apartments are currently without leases. The store has a lease in place until August 2028. The property generates a yearly income of $163,000, with yearly expenses totaling $38,600, resulting in a net income of $124,400. The property is situated in a highly desirable area with convenient access to Manhattan, Astoria Park, the subway, and LaGuardia Airport. The surrounding commercial area is well-established and offers a range of conveniences. The location benefits from heavy pedestrian traffic. The stores and apartments in this area are easy to rent. The property size is 1,989 square feet.
Key Highlights
- High Net Income: $124,400 annually.
- Prime Astoria location with heavy pedestrian traffic.
- Mixed‑use 2 Family with a grocery store providing diverse income streams.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$92,056
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,841,120
$1.8M
Cap Rate 7%
$1,315,086
$1.3M
Cap Rate 9%
$1,022,844
$1.0M
Market Conditions
NOI Build-Up for 1,989 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$131.3K $66.00/SF
− Vacancy
−$8.5K −$4.29/SF
EGI
$122.7K $61.71/SF
− OpEx
−$30.7K −$15.43/SF
NOI
$92.1K $46.28/SF
Area
Queens County, NY
Vacancy
6.50%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,841,120
Cap Rate 7%
$1,315,086
Cap Rate 9%
$1,022,844
Alternative Uses
Best Use
Specialty Retail
$1.32M
$1.15M – $1.53M
NOI $92,056 @ 7.0% cap · market cap 4.09%
Second Best
Apartment 5plus
$694.6K
$607.8K – $810.3K
NOI $48,620 @ 7.0% cap · market cap 2.16%
Theoretical Best
Office A
$1.47M
$1.28M – $1.71M
NOI $102,642 @ 7.0% cap · market cap 4.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,465
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with store and apartments in prime Astoria location.
Where is this mixed-use 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 Net Income: $124,400 annually.; Prime Astoria location with heavy pedestrian traffic.; Mixed‑use 2 Family with a grocery store providing diverse income streams.
