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    32-87 Steinway St Queens, NY 11103

    Sponsored
    For Lease
    $25 SF/Yr

    Prime corner retail space, Astoria, NY. High-traffic location.

    Lot size:
    11,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional commercial property at 32-87 Steinway Street in Astoria, Queens, presents a unique investment opportunity. The building offers a substantial 11,000 square feet of ground-level retail space, previously occupied by Rite Aid, providing ample room for a diverse range of businesses. The expansive layout is complemented by an additional 5,000 square feet of basement space, perfect for storage, expansion, or supplementary retail operations. A convenient freight elevator ensures efficient movement of goods and merchandise throughout the building. This prime corner location benefits from exceptional visibility and accessibility, situated directly adjacent to a subway station, ensuring convenient access for both customers and employees. The property's strategic placement, just one block from the Innovation QNS development, positions it ideally for businesses within the technology and innovation sectors. This high-traffic location in the vibrant Astoria neighborhood of Queens County, New York (zip code 11103) offers unparalleled potential for a thriving business. The property's size, location, and amenities make it an exceptional opportunity for businesses seeking a prominent presence in a rapidly growing area. This single-tenant retail space is ready for its next chapter.

    Property Features for 32-87 Steinway St

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    11,000 SF

    Unit(s) available at that property

    Space
    Size
    11,000 SF
    Rate per SF
    $25

    HighLights

    • 11,000 SF ground floor retail space, previously Rite Aid, plus 5,000 SF basement.
    • High‑traffic corner location with excellent visibility.
    • Adjacent to N/W Steinway St subway station.
    • One block from Innovation QNS development.
    Property Profile Location Intelligence

    Current Use by Public Records

    Rite Aid Pharmacy Pharmacy KeyMe Locksmith TD Bank ATM Atm higi Health Consultant Spirit Halloween Costume Store

    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
    -73.920971399999
    Latitude
    40.756594575961

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    FAQs

    What type of property is this?
    Retail property - Prime corner retail space, Astoria, NY. High-traffic location.
    Where is this retail property located?
    The property is located at 32-87 Steinway St Queens, NY.
    What is the lease rate?
    The lease rate is $25 SF/Yr.
    What are key features of this property?
    This property features: 11,000 SF ground floor retail space, previously Rite Aid, plus 5,000 SF basement.; High-traffic corner location with excellent visibility.; Adjacent to N/W Steinway St subway station.
    Request Owner's contact information
    32-87 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
    32-87 Steinway St Queens, NY 11103
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