25-47 Steinway StAstoria, NY 11103

Property Details for 25-47 Steinway St

Year built

1920

Property size (Sq ft)

3,420 SF

Property type

Retail properties

Property subtype

Mixed-use properties

Description

This exceptional mixed-use property at 25-47 Steinway Street in Astoria, Queens, NY 11103 presents a compelling investment opportunity. The three-story, 3,420 square foot building, constructed in 1920, sits on a 1,900 square foot lot (19.33 x 100 feet building dimensions are 19.33 x 60 feet). The property boasts five residential units: three two-bedroom apartments, one one-bedroom apartment, and one additional two-bedroom unit that will be delivered vacant. All residential units are month-to-month tenancies, with tenants responsible for their own electricity and cooking gas. A significant portion of the building comprises a 1200 square foot commercial space with backyard and full basement access. Currently occupied by a restaurant under lease until 2030 with a five-year option, this tenant pays their own utilities and contributes 50% of the property taxes, along with a 3% annual rent increase. The property's net operating income (NOI) is $105,000, resulting in a 5.00% capitalization rate. The asking price is $1,995,000. Tentative property taxes are $43,557.00 annually. This property offers a blend of stable rental income and significant commercial potential in a thriving Astoria location. The combination of residential and commercial income streams provides a diversified investment strategy with strong potential for future appreciation.

Location Insight

City

Astoria

County

Queens

State

New York

Latitude

40.7667

Longitude

-73.9124

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].