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    26-17 23Rd Ave Astoria, NY 11105

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    26-17 23Rd Ave Astoria, NY 11105

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    • Office properties & Spaces
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    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Sunflower Beauty Studio / Medical Clinic / Skin Care Clinic

    Property Details for 26-17 23Rd Ave

    Property type
    Office properties & Spaces

    Description

    This thriving Astoria beauty studio, located at 26-17 23rd Avenue, presents a unique investment opportunity. Priced at $98,000, this established business offers a full range of services including facials, hair services, microblading, laser hair removal, and more. The studio boasts high-quality equipment, a substantial product inventory, and a modern, recently renovated aesthetic. Operating with a loyal clientele, it generates a healthy average annual income. The current lease has three years remaining with a renewal option, and the monthly rent is exceptionally low at $3050, a significant advantage in this vibrant neighborhood. A streamlined POS system ensures efficient payment processing. This turnkey operation is ideal for beauty professionals seeking a profitable, established business with significant growth potential. The square footage is not currently specified. This is a rare chance to acquire a well-regarded business in a prime Astoria location. The business is ready to operate immediately, offering a seamless transition for the new owner. The sale includes all existing equipment and inventory.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Astoria
    County
    36081
    State
    New York
    Longitude
    -73.9151
    Latitude
    40.7763

    Comparable in this City

    • Value Estimation
      $4,705,000
      29,654 SF

      4502 Ditmars Blvd

      OFFICE (GENERAL) • 29,654 SF
      4502 Ditmars Blvd, Long Island City, NY 11105-1319
      View Details
    • Value Estimation
      $625,000
      3,962 SF

      2311 21st Avecc

      OFFICE (GENERAL) • 3,962 SF
      2311 21st Avecc, Long Island City, NY 11105-3311
      View Details
    • Value Estimation by Request
      1,686 SF

      2311 21st Ave

      OFFICE (GENERAL) • 1,686 SF
      2311 21st Ave, Long Island City, NY 11105-3311
      View Details
    • Value Estimation by Request
      1,013 SF

      2309 31st St Ste, Unit 3

      OFFICE (GENERAL) • 1,013 SF
      2309 31st St Ste, Long Island City, NY 11105-2899
      View Details
    • Value Estimation by Request
      1,700 SF

      23-11 21St Ave

      Day care centers • 1,700 SF
      23-11 21St Ave, Queens, NY 11105
      View Details
    • Value Estimation
      $610,000
      2,170 SF

      2381 21st Stc1

      CONDOMINIUM OFFICES • 2,170 SF
      2381 21st Stc1, Long Island City, NY 11105-3750
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,300 SF

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      20,280 SF

      Long Island City Office Building

      Office building with parking in prime location.
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      3,450 SF

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      3,450 SF mixed-use building with apartments and parking.
      2354 Steinway St, Astoria, NY 11105
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    • $179,000
      3,143 SF

      Astoria Deli & Grocery Opportunity

      Established deli and grocery business for sale in Astoria, NY.
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    Similar Nearby for Lease

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      7,600 SF

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      7,600 SF office/loft space available for rent.
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    • Contact for pricing
      6,500 SF

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      6,500 SF office/loft space with freight elevator near 7 train.
      33-01 33Rd St, Astoria, NY 11105
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    • $4,000 /Mo
      1,400 SF

      Astoria Office Space with Terrace

      1400 SF office space with direct street access.
      31-22 Steinway St, Astoria, NY 11105
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    • Contact for pricing

      Office Space in Queens

      Single tenant office space available for rent in Queens.
      23-34 Sound St, Queens, NY 11105
      View Details
    • Contact for pricing
      4,000 SF

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      4,000 SF warehouse with optional office space available.
      24-47 47Th St, Queens, NY 11105
      View Details
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    Astoria, NY 11105
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    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.

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    26-17 23Rd Ave, Astoria, NY, 11105

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