Mixed-Use Building in Astoria,
25-47 Steinway St Queens, NY 11103
25-47 Steinway St, Queens, NY, 11103
Contact for pricing
For Sale
Contact for pricing
Three-story mixed-use building with apartments and a store.
Property Size3,420 SF
Price / SF$621.35
Days on Market870
Property Features for 25-47 Steinway St
General Information
- Standard status
- Active
- Size
- 3,420 SF
- Property subtype
- Mixed Use
Listing Agency
Highcap Group
Listed by
Anthony Volman · License #NY
Source
Crexi
Added: Mar 2, 2024 Checked: Jul 19 at 5:35 am
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 Highcap Group
Investment Insights
Based on property information with market context.
Located in South Astoria, Queens, this three-story mixed-use building features four apartments and one store. The four apartments are occupied by free market tenants on a month-to-month basis. The restaurant lease is active until July 2030. The property is classified as tax class 2A. The property size is 3,420 square feet. The net operating income is $181,000 (proforma), with an 8.5% proforma capitalization rate.
Key Highlights
- High Proforma NOI of $181k
- Attractive 8.5% Proforma CAP Rate
- Prime South Astoria, Queens Location
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $158.0k | $46.20 |
| − Vacancy | −$6.0k | −$1.76 |
| EGI | $152.0k | $44.44 |
| − OpEx | −$68.4k | −$20.00 |
| NOI | $83.6k | $24.44 |
3,420 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.19M
$1.05M – $1.39M
NOI $83,600 @ 7.0% cap · market cap 3.93%
Second Best
Retail
$872.1K
$763.1K – $1.02M
NOI $61,047 @ 7.0% cap · market cap 2.87%
Theoretical Best
Office A
$2.52M
$2.21M – $2.94M
NOI $176,488 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Hayati Lounge
Bar & Pub
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Three-story mixed-use building with apartments and a store.
Where is this mixed-use property located?
The property is located at 25-47 Steinway St Queens, NY.
What is the asking price?
The asking price for this property is $2,125,000.
What are key features of this property?
This property features: High Proforma NOI of $181k; Attractive 8.5% Proforma CAP Rate; Prime South Astoria, Queens Location
