Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3414 Steinway St Long Island City, NY 11101-1306

    • Retail space
    • 23,250 SF
    • 0.54 lot acres
    OFF-MARKET
    Value Estimations
    $4,310,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1662807
    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.

    Current Use by Public Records

    • Met Fresh & Organic / Specialty Food Shop / Supermarket

    Property Details for 3414 Steinway St

    Year built
    1953
    Lot size
    0.54 lot acres
    Property size
    23,250 SF
    Zone code
    M1-1
    Property type
    Retail space
    APN
    00672-0013
    APU
    6720013

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Long Island City
    County
    Queens
    State
    New York
    Longitude
    -73.9217
    Latitude
    40.7563
    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
    $181,180
    $787,500
    $936,000
    $1,723,500
    -
    $1,750,000
    $2,080,000
    $3,830,000

    Comparable in this City

    • Value Estimation by Request
      3,700 SF

      43-12 Hunter St

      Restaurants • 3,700 SF
      43-12 Hunter St, Queens, NY 11101
      View Details
    • Value Estimation
      $5,220,000
      24,300 SF

      4207 Northern Blvd

      RETAIL STORES (PERSONAL SERVICES) • 24,300 SF
      4207 Northern Blvd, Long Island City, NY 11101
      View Details
    • Value Estimation
      $3,925,000
      12,847 SF

      4015 Northern Blvd

      RETAIL STORES (PERSONAL SERVICES) • 12,847 SF
      4015 Northern Blvd, Long Island City, NY 11101-1501
      View Details
    • Value Estimation
      $3,370,000
      26,830 SF

      2315 44th Drret

      RETAIL STORES (PERSONAL SERVICES) • 26,830 SF
      2315 44th Drret, Long Island City, NY 11101-8900
      View Details
    • Value Estimation by Request

      39-04 29Th St

      Individual retail properties
      39-04 29Th St, Queens, NY 11101
      View Details
    • Value Estimation
      $5,010,000
      17,842 SF

      2728 Thomson Ave, Unit COMM1

      RETAIL STORES (PERSONAL SERVICES) • 17,842 SF
      2728 Thomson Ave, Long Island City, NY 11101-2922
      View Details

    Similar Nearby for Sale

    • $18,888,000
      36,324 SF

      New Mixed-Use Building For Sale

      New construction mixed-use building with residential, retail, and parking.
      214-13 41St Ave, Queens, NY 11101
      View Details
    • $7,000,000
      10,048 SF

      Retail Condos in Hunters Point

      Five adjacent, fully leased retail condo units in Long Island City.
      533 48Th Ave, Long Island City, NY 11101
      View Details
    • $1,200,000

      Prime Retail Space in Queens

      New retail space in Long Island City with high visibility.
      1152 44Th Dr, Queens, NY 11101
      View Details
    • Contact for pricing

      Astoria Pre-War Apartment Building

      16,200 SF pre-war building with 22 apartments and retail.
      40-04 36Th Ave, Astoria, NY 11101
      View Details
    • $1,200,000

      Prime Retail Space in Long Island City

      New retail space in a rapidly growing Long Island City.
      1152 44Th Dr, Long Island City, NY 11101
      View Details
    • $120,000

      Auto Dealership in Long Island

      Operational auto dealership with service facility in high-traffic area.
      21-52 45Th Ave, Queens, NY 11101
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,421 SF

      Former Restaurant Space Near Subway

      Restaurant space near subway with shared parking and loading.
      32 Queens Blvd, Queens, NY 11101
      View Details
    • Contact for pricing
      1,688 SF

      Retail Space in Long Island

      Retail opportunity at the base of a 938-unit residential tower.
      23-15 44Th Dr, Long Island City, NY 11101
      View Details
    • Contact for pricing
      1,900 SF

      Prime Retail Space in Queens

      High-visibility retail space near subway lines, ideal for various businesses.
      43 Hunter St, Queens, NY 11101
      View Details
    • Contact for pricing
      1,100 SF

      Mixed-Use Space in Long Island City

      1097 SF mixed-use space in the heart of Long Island City.
      13-22 Jackson Ave, Queens, NY 11101
      View Details
    • $125 SF/Yr
      3,000 SF

      Retail Space in Office Tower

      Ground floor retail space with corner visibility in Long Island City.
      24 44Th Rd, Long Island City, NY 11101
      View Details
    • Contact for pricing
      1,356 SF

      Retail Space on Queens Blvd

      Retail space available in a high-traffic location.
      39-01 Queens Blvd, Queens, NY 11101
      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.
    3414 Steinway St
    Long Island City, NY 11101-1306
    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

    Google sign-in failed. Please try again or use another login method.