23-66 Steinway St
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23-66 Steinway St
4,125 SF Retail Building Astoria, NY 11105 $3,756,163 CAD ($911 CAD/SF) 8.50% Cap Rate
Investment Highlights
- New Roof, New Systems, Good Condition, Stable tenancy, High NOI
Executive Summary
Unlock a spectacular investment opportunity with this 4125s SF mixed-use building located on 28 Steinway Street in Astoria. Featuring a ground-floor commercial space, currently operating as a thriving club with an active 4 AM liquor license, full bar, kitchen, and event-ready lower level. Property also includes two fully updated residential units on the upper floors.
The property offers 25 FT of street frontage in a high-visibility location, drawing strong foot traffic and demand. With $21,500 in monthly rental income from long-term tenants and recent upgrades including a new roof, HVAC system, and 2023 water heater, this investment/location is designed for stability and growth. This is being sold as a true 8.5 Cap.
Situated in the heart of Astoria, the building is just minutes from major transit like Astoria Boulevard and Ditmars Boulevard stations, as well as LaGuardia Airport, making it highly accessible. Zoned R5/C2-2, the property provides medium-density residential and commercial flexibility, with the potential to add additional SF, ideal for owners or investors looking to maximize long-term value. To note, the club is not being sold and is under lease, the residential tenants are month to month at below market rate.
The property offers 25 FT of street frontage in a high-visibility location, drawing strong foot traffic and demand. With $21,500 in monthly rental income from long-term tenants and recent upgrades including a new roof, HVAC system, and 2023 water heater, this investment/location is designed for stability and growth. This is being sold as a true 8.5 Cap.
Situated in the heart of Astoria, the building is just minutes from major transit like Astoria Boulevard and Ditmars Boulevard stations, as well as LaGuardia Airport, making it highly accessible. Zoned R5/C2-2, the property provides medium-density residential and commercial flexibility, with the potential to add additional SF, ideal for owners or investors looking to maximize long-term value. To note, the club is not being sold and is under lease, the residential tenants are month to month at below market rate.
Financial Summary (Actual - 2023) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
4,125 SF
Building Class
C
Year Built/Renovated
1925/2024
Price
$3,756,163 CAD
Price Per SF
$911 CAD
Cap Rate
8.50%
NOI
$319,274 CAD
Tenancy
Single
Building Height
2 Stories
Building FAR
1.58
Land Acres
0.06 AC
Zoning
R5,C2-2 - Medium density district, primarily residential with commercial uses on the street level
Frontage
28 ft on Steinway St
Amenities
- Air Conditioning
Walk Score ®
Walker's Paradise (97)
Transit Score ®
Excellent Transit (80)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 00803-0073 | Total Assessment | $65,853 CAD |
| Land Assessment | $10,869 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $54,984 CAD | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
00803-0073
Land Assessment
$10,869 CAD
Improvements Assessment
$54,984 CAD
Total Assessment
$65,853 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2023
-
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23-66 Steinway St
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