Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    33-10 28Th Ave Queens, NY 11103
    Property profile & analytics

    33-10 28Th Ave, Queens, NY 11103

    View on Map
    • Mixed-use properties
    • 2,700 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mixed-use properties

    Property Details for 33-10 28Th Ave

    Property type
    Mixed-use properties

    Description

    This exceptional development opportunity presents a 2,700 square foot lot (27.17 ft x 100 ft) located at 33-10 28th Ave in Astoria, Queens, NY 11103. The property includes a two-story mixed-use building of approximately 1,800 square feet, currently occupied under month-to-month leases with early termination options. This offers significant flexibility for redevelopment. Zoned R6-A, the site boasts a favorable floor area ratio (FAR), allowing for the development of up to 8,100 square feet of residential buildable area as-of-right. The property's prime location offers excellent visibility and accessibility, situated near the N & W subway lines and numerous bus routes. This makes it an ideal site for residential or community facility development, capitalizing on Astoria's thriving market. The asking price is $2,400,000. This is a single-ownership property, offering a unique chance to create a significant development in a highly desirable New York City neighborhood. The property is a sale/leaseback investment opportunity.

    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
    -73.9181
    Latitude
    40.7675

    Comparable in this City

    • Value Estimation by Request
      3,420 SF

      25-47 Steinway St

      Mixed-use properties
      25-47 Steinway St, Queens, NY 11103
      View Details
    • Value Estimation by Request

      25th Ave Steinway St

      Multifamily properties
      25th Ave Steinway St, Queens, NY 11103
      View Details
    • Value Estimation by Request
      3,420 SF

      25-47 Steinway St

      Individual retail properties
      25-47 Steinway St, Astoria, NY 11103
      View Details
    • Value Estimation by Request
      13,900 SF

      4013-4015 Broadway

      Mixed-use properties
      4013-4015 Broadway, Queens, NY 11103
      View Details
    • Value Estimation by Request
      1,989 SF

      25-76 Steinway St

      Individual retail properties
      25-76 Steinway St, Queens, NY 11103
      View Details
    • Value Estimation by Request

      32-42 45Th St

      Mixed-use properties
      32-42 45Th St, Astoria, NY 11103
      View Details

    Similar Nearby for Sale

    • $2,900,000

      Prime Queens Mixed-Use Building

      High-Yield Investment Opportunity in NYC
      30-71 Steinway St, Queens, NY 11103
      View Details
    • Contact for pricing

      Steinway Street Mixed-Use Building

      Three-story mixed-use building on high-traffic Steinway Street.
      3060 Steinway St, Astoria, NY 11103
      View Details
    • $2,390,000
      4,500 SF

      Mixed-Use Building in South Astoria

      High-visibility mixed-use building with redevelopment potential in a prime location.
      3076 Steinway St, Astoria, NY 11103
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Astoria Office Space for Lease

      Professional office space with city views in Astoria, NY.
      32-56 Steinway St, Astoria, NY 11103
      View Details
    • Contact for pricing
      16,031 SF

      Astoria Retail Space Available

      Prime retail space available in Astoria, Queens.
      31-08 Steinway St, Astoria, NY 11103
      View Details
    • Contact for pricing
      4,000 SF

      New Warehouse and Office Space

      4,000 SF warehouse with optional office space available.
      24-47 47Th St, Queens, NY 11103
      View Details
    • Contact for pricing
      2,000 SF

      Astoria Retail Space Available

      2000 SF retail space for rent in Astoria.
      3094 Steinway St, Astoria, NY 11103
      View Details
    • Contact for pricing

      Astoria Retail Space For Lease

      Prime retail space in Astoria, ideal for various businesses.
      43-04 30Th Ave, Queens, NY 11103
      View Details
    • Contact for pricing

      Retail/Office Space on Steinway

      Second floor retail/office space available for sublease.
      31-64 Steinway St, Long Island City, NY 11103
      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.
    33-10 28Th Ave
    Queens, NY 11103
    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

    Thank You for Inquiry
    33-10 28Th Ave, Queens, NY, 11103
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!