31-07 31St Ave Queens, NY 11106
- Mixed-use properties
Current Use by Public Records
- Astoria House Of Smokes / Convenience Store
Property Details for 31-07 31St Ave
- Property type
- Mixed-use properties
Description
This exceptional mixed-use property in Astoria, Queens, presents a compelling investment opportunity. Located at 31-07 31st Ave, this brand-new, 11,000 square foot building sits on a 0.04-acre lot and boasts a remarkable Walk Score of 98. The property features ten modern rental units: five two-bedroom and five one-bedroom apartments, all currently 100% occupied. Amenities include a rooftop, balconies, an elevator, security cameras, and on-site laundry facilities. A significant advantage is the inclusion of a 35-year 421A tax abatement. The asking price is $11,500,000, yielding a 4.39% cap rate and a net operating income (NOI) of $504,480. The building's design and location, combined with the current high occupancy and the tax abatement, create a strong potential for consistent and substantial returns. Negotiable rental rates further enhance the investment's appeal. This is a rare opportunity to acquire a premier property in a highly desirable Astoria location. The property's prime location and modern amenities ensure strong tenant demand and long-term value.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.9229
- Latitude
- 40.7643
