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    2842 Steinway St Astoria, NY 11103
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    Property profile & analytics

    2842 Steinway St Astoria, NY 11103

    View on Map
    • Retail space
    • 4,950 SF
    • 0.06 lot acres
    For Lease
    $1,450,000
    View Listing →
    Astoria Retail Space For Rent For Lease
    $1,450,000
    1,500 SF

    Astoria Retail Space For Rent

    Retail space with high ceilings and full-size storage basement.

    2842 Steinway St, Astoria, NY
    View Listing
    Property ID
    US63-3320960
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,450,000
    Cap Rate Potential
    8%
    Retail space
    Location Intelligence

    Current Use by Public Records

    • Jewels of Buddha / Clothing Store / Jewelry Store

    Property Details for 2842 Steinway St

    Year built
    1926
    Lot size
    0.06 lot acres
    Property size
    4,950 SF
    Zone code
    C4-2A
    Property type
    Retail space
    APN
    00662-0037
    APU
    6620037

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,100,000
      ML approach
      $1,005,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,475,000
      6.5%
      $1,360,000
      7%
      $1,260,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,927,000
      Market price range: $1.93M - $4.71M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Long Island City
    County
    Queens
    State
    New York
    Longitude
    -73.9148
    Latitude
    40.7646
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $23,870
    $157,500
    $75,600
    $233,100
    -
    $350,000
    $168,000
    $518,000

    Comparable in this City

    • Value Estimation
      $730,000
      3,925 SF

      3801 31st Ave, Unit 2

      RETAIL STORES (PERSONAL SERVICES) • 3,925 SF
      3801 31st Ave, Long Island City, NY 11103-3823
      View Details
    • Value Estimation by Request
      3,420 SF

      25-47 Steinway St

      Individual retail properties • 3,420 SF
      25-47 Steinway St, Astoria, NY 11103
      View Details
    • Value Estimation
      $1,545,000
      8,800 SF

      3234 Steinway St

      RETAIL STORES (PERSONAL SERVICES) • 8,800 SF
      3234 Steinway St, Long Island City, NY 11103-4006
      View Details
    • Value Estimation
      $925,000
      3,375 SF

      3070 Steinway St

      RETAIL STORES (PERSONAL SERVICES) • 3,375 SF
      3070 Steinway St, Long Island City, NY 11103-3802
      View Details
    • Value Estimation by Request
      1,875 SF

      3139 Steinway St

      RETAIL STORES (PERSONAL SERVICES) • 1,875 SF
      3139 Steinway St, Long Island City, NY 11103-3908
      View Details
    • Value Estimation by Request
      1,000 SF

      3810 28th Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,000 SF
      3810 28th Ave, Long Island City, NY 11103
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,267 SF

      Astoria Mixed-Use Investment Opportunity

      Prime Steinway Street frontage with mixed-use flexibility in high-density Astoria.
      3090-3092 Steinway St, Queens, NY 11103
      View Details
    • Contact for pricing
      13,500 SF

      Prime Astoria Retail Building

      13,500 SF retail building in prime Steinway Street location.
      3135 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
      1,944 SF

      Retail Building in Astoria, Queens

      Two-story, single-tenant retail building with 1,944 SF in Astoria.
      3152 Steinway St, Astoria, NY 11103
      View Details
    • Contact for pricing
      2,000 SF

      Astoria Retail Space For Rent

      Retail space for rent in Astoria, walking distance to transit.
      3071 Steinway St, Astoria, NY 11103
      View Details
    • Contact for pricing
      700 SF

      Retail Space in High-Traffic Area

      Retail space in a dense residential neighborhood with high foot traffic.
      3187 Steinway St, Astoria, NY 11103
      View Details
    • Contact for pricing
      12,000 SF

      Astoria Retail Space Available

      12,000 SF retail space for rent in Astoria.
      3301 30Th Ave, Astoria, NY 11103
      View Details
    • Contact for pricing
      1,500 SF

      Astoria Retail Space For Rent

      Retail space with high ceilings and full-size storage basement.
      2842 Steinway St, Astoria, 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
    View Listing
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    Astoria, 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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