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    43-02 Newtown Rd Queens, NY 11103
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    43-02 Newtown Rd Queens, NY 11103

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    • Retail properties & Spaces
    • 2,310 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 43-02 Newtown Rd

    Year built
    1930
    Property size
    2,310 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Mixed-use properties

    Description

    This exceptional mixed-use property, located at 43-02 Newtown Road (also known as 31-11 43rd Street) in Central Astoria, Queens, NY 11103, presents a rare value-add investment opportunity. The three-story brick building offers 2,310 square feet of space, including two residential units, one commercial unit, and a four-car garage. Each residential unit features high ceilings, triple exposure, ten windows, two bedrooms, an eat-in kitchen, and a windowed bath. The ground floor commercial space boasts 11-foot ceilings and frontage on both Newtown Road and 43rd Street. A full basement provides additional potential for expansion. The property sits on a 1,848 square foot lot (22.67 x 97) and is zoned R5 with a FAR of 1.25. Public records indicate a gross floor area of 1,998 square feet, with an additional 312 square feet of unbuilt floor area. The building is conveniently located three blocks from Steinway Street, one block from 30th Avenue, and one block from Broadway. The asking price is $1,695,000, representing a 7.07% cap rate and a NOI of $119,880. Annual property taxes are $8,760. The building will be delivered vacant. The adjacent block has recently been upzoned, presenting further development potential. Prospective buyers are urged to independently verify all information.

    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
    -73.9148
    Latitude
    40.7598

    Comparable in this City

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      13,900 SF

      4013-4015 Broadway

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      1,989 SF

      25-76 Steinway St

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      3,547 SF

      33-29 Astoria Blvd

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    • Value Estimation by Request
      3,420 SF

      25-47 Steinway St

      Mixed-use properties • 3,420 SF
      25-47 Steinway St, Queens, NY 11103
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    • Value Estimation by Request

      25th Ave Steinway St

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      25th Ave Steinway St, Queens, NY 11103
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    Similar Nearby for Sale

    • Contact for pricing
      6,822 SF

      Astoria Mixed-Use Investment Opportunity

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      Astoria Mixed-Use Investment Opportunity

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      Fully Occupied Mixed-Use Investment

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      Mixed-Use Building in South Astoria

      High-visibility, mixed-use building with expansion potential in a prime location.
      3076 Steinway St, Queens, NY 11103
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    Similar Nearby for Lease

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      2,050 SF

      Turnkey Restaurant Space Available

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      Retail/Office Space on Steinway

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      2,200 SF

      Finished Office Space in Astoria

      Full-service office space in prime Astoria, Queens for rent.
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    • $2,900 /Mo

      Retail/Office Space with Storage

      High-traffic location with basement storage and parking available.
      2590 41St St, Queens, NY 11103
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    43-02 Newtown Rd
    Queens, NY 11103
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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.

    More about this property
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