Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    31St St Queens, NY 11106

    • Retail properties
    • 2,450 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 0 31St St

    Property size
    2,450 SF
    Property type
    Retail properties
    Property subtype
    Restaurants

    Description

    This exceptional commercial property, located at 34-39 34th Street in Queens, New York, 11106, offers a fantastic opportunity for retail or restaurant businesses. The building boasts a total of 2,450 square feet, currently entirely vacant and available for lease. This presents a unique chance to establish a presence in a vibrant Queens neighborhood. The space is divisible, with a minimum leasable area of 450 square feet and a maximum contiguous space of 2,000 square feet, providing flexibility for various business needs and expansion plans. The property's location in Queens County offers excellent visibility and accessibility, making it an ideal spot to attract customers. The address is conveniently situated near 31st Street, providing easy access to major transportation routes and local amenities. This is a rare opportunity to secure a substantial, fully vacant retail space in a high-traffic area of Queens. The property is classified as both retail and restaurant-suitable, catering to a wide range of potential tenants. The building's size and layout offer significant potential for customization and branding opportunities. Don't miss this chance to secure a prime location for your business in a thriving Queens community. Contact us today to learn more about leasing options and to schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Queens
    County
    Queens
    State
    New York
    Longitude
    -73.9271
    Latitude
    40.7598

    Comparable in this City

    • Value Estimation by Request

      34-15 Broadway

      Restaurants
      34-15 Broadway, Queens, NY 11106
      View Details
    • Value Estimation by Request
      55,000 SF

      35-01 36Th Ave

      Restaurants • 55,000 SF
      35-01 36Th Ave, Queens, NY 11106
      View Details
    • Value Estimation by Request

      25-15 Broadway

      Restaurants
      25-15 Broadway, Queens, NY 11106
      View Details
    • Value Estimation by Request

      32-19 Broadway

      Restaurants
      32-19 Broadway, Queens, NY 11106
      View Details
    • Value Estimation by Request

      29-09 Broadway

      Restaurants
      29-09 Broadway, Queens, NY 11106
      View Details
    • Value Estimation by Request

      29-01 36Th Ave

      Restaurants
      29-01 36Th Ave, Queens, NY 11106
      View Details

    Similar Nearby for Sale

    • $3,850,000
      0.04 Acres

      Astoria Mixed-Use Investment Opportunity

      Four-story building with apartments and a restaurant in Astoria.
      34-55 32Nd St, Astoria, NY 11106
      View Details
    • $3,850,000
      6,480 SF

      Astoria Multifamily Building with Restaurant

      Four-story building with apartments and a restaurant in Astoria.
      34-55 32Nd St, Astoria, NY 11106
      View Details
    • $4,500,000
      5,000 SF

      Astoria Mixed-Use Investment

      Prime Astoria location, high NOI, value-add potential.
      0 Broadway, Astoria, NY 11106
      View Details
    • $1,900,000
      2,000 SF

      Prime Queens Manufacturing Facility

      1-Story, 2,000 SF Manufacturing Building, 100% Occupied
      34-26 31St St, Queens, NY 11106
      View Details
    • $1,470,000
      Pending

      Astoria Multifamily Building with Parking

      Six-unit building with parking in prime Astoria location.
      3142 34Th St, Astoria, NY 11106
      View Details
    • $6,500,000

      Astoria Commercial Property for Sale

      Four commercial stores available on Broadway in Astoria, NY.
      25-08 Broadway, Astoria, NY 11106
      View Details

    Similar Nearby for Lease

    • $9,500 /Mo

      Astoria Restaurant Space for Lease

      Prime 1,200 sq ft restaurant space in vibrant Astoria.
      25-24 Broadway, Queens, NY 11106
      View Details
    • Contact for pricing
      2,400 SF

      Restaurant Space with Mezzanine

      Restaurant space featuring an open floor plan and mezzanine level.
      1106 31St Dr, Astoria, NY 11106
      View Details
    • Contact for pricing
      2,500 SF

      Queens Medical Office Space For Lease

      2,500 SF Freestanding Medical Office
      36-02 21St St, Queens, NY 11106
      View Details
    • Contact for pricing
      2,300 SF

      Broadway Retail Space - Queens

      High-traffic retail space, flexible lease options.
      31-09 Broadway, Queens, NY 11106
      View Details
    • $4,000 /Mo

      Astoria Retail/Office Space for Lease

      Commercial space in high-traffic Astoria location, steps from N/W train.
      35-36 31St St, Queens, NY 11106
      View Details
    • Contact for pricing
      2,500 SF

      Astoria Retail Space For Rent

      Retail space available in Astoria, New York.
      3602 21St St, Astoria, NY 11106
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    31St St
    Queens, NY 11106
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.