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    30-71 Steinway St Queens, NY 11103

    For Sale
    $2,900,000

    High-Yield Investment Opportunity in NYC

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional three-story mixed-use building, located at 30-71 Steinway St in Queens, NY 11103, presents a compelling investment opportunity. Built in 1931, the property boasts a substantial 2,070 square foot lot and offers a strong 5.16% capitalization rate. The asking price is $2,900,000, translating to $35.44 per square foot. The building's current net operating income (NOI) stands at $149,730. All units are currently fully occupied, providing immediate cash flow. A key component of the income stream is a commercial store operating under a 10-year lease with a 5-year renewal option, ensuring long-term stability. The property is classified as Class C and zoned C4-2A, offering flexibility for future development or operational adjustments. This prime location in Queens offers excellent access to transportation and a vibrant commercial environment. This is a rare opportunity to acquire a well-performing mixed-use asset in a high-demand area of New York City. The building's solid history, strong tenant occupancy, and favorable zoning make it an ideal addition to any investment portfolio. Further details are available upon request.

    Property Features for 30-71 Steinway St

    General Information

    Property type
    Mixed-use properties
    Class
    C

    Building Details

    Year Built
    1931
    Buildings
    1
    Stories
    3

    HighLights

    • Exceptional three‑story mixed‑use building in Queens, NY, offering a 5.16% cap rate.
    • Asking price: $2,900,000, $35.44/SF.
    • 2,070 SF lot, 149,730 NOI, fully occupied.
    • 10‑year lease (plus 5‑year option) on commercial store.
    • Class C building, C4‑2A zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Radiant Aesthetics Med ... Laser Hair Removal Service Skin Studio By ... Day Spa Fusion Hair Extensions Hair Replacement Service Patricia's Hair Loss ... Hair Salon

    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
    -73.916438208822
    Latitude
    40.762154015184

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    FAQs

    What type of property is this?
    Mixed-use property - High-Yield Investment Opportunity in NYC
    Where is this mixed-use property located?
    The property is located at 30-71 Steinway St Queens, NY.
    What is the asking price?
    The asking price for this property is $2,900,000.
    What are key features of this property?
    This property features: Exceptional three-story mixed-use building in Queens, NY, offering a 5.16% cap rate.; Asking price: $2,900,000, $35.44/SF.; 2,070 SF lot, 149,730 NOI, fully occupied.
    (347) 665-8019
    Request Owner's contact information
    30-71 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
    30-71 Steinway St Queens, NY 11103
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