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31-53 Steinway St 6,860 SF 100% Leased Retail Building Astoria, NY 11103 $4,500,000 ($655.98/SF) 7.56% Cap Rate
Executive Summary
Fully occupied, NNN leased property
Credit rated anchor tenant; Children’s Place has been at location since 2002 and signed a new lease in March of 2025
Retail space renovated in 2025 with new electrical and AC system; Second floor (offices) and third floor (apartments) fully gut renovated in 2021
In the heart of Astoria with many national retailers on the block
1 Block to the M and R subway station, allowing access to Manhattan in 10 minutes
Fully free market property
Ideal for a 1031 exchange
Credit rated anchor tenant; Children’s Place has been at location since 2002 and signed a new lease in March of 2025
Retail space renovated in 2025 with new electrical and AC system; Second floor (offices) and third floor (apartments) fully gut renovated in 2021
In the heart of Astoria with many national retailers on the block
1 Block to the M and R subway station, allowing access to Manhattan in 10 minutes
Fully free market property
Ideal for a 1031 exchange
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
6,860 SF
Building Class
C
Year Built/Renovated
1930/2020
Price
$4,500,000
Price Per SF
$655.98
Cap Rate
7.56%
NOI
$340,175
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.62
Lot Size
0.06 AC
Zoning
C4-2A - General Commercial Contextual Zoning district in NYC
Frontage
28’ on Steinway Street
Amenities
- Signage
Exceptionally walkable
100/100
Moderately drivable
60/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 00678-0020 | Improvements Assessment | $690,120 |
| Land Assessment | $270,000 | Total Assessment | $960,120 |
Property Taxes
Parcel Number
00678-0020
Land Assessment
$270,000
Improvements Assessment
$690,120
Total Assessment
$960,120
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