Good luck, but I would be very, very cautious on this.
Here are a few things to keep in mind. The American Booksellers Association, the primary trade organization for independant bookstores, had 5000+ members about 10 years ago. That number has dropped to about 1700 members today.
Finances for bookstores are tough. For inventory alone you will need to be spend a lot of money. As an example, most general bookstores try to turn their inventory twice a year. This means that if you have $1 million in sales per year, you will need to have $500,000 in inventory at any given time to sustain this.
That $500K (at retail) will cost you approx $300K (at wholesale), and most publishers and wholesale companies will only extend 30-60 days of credit. The back-of-the-envelope calculation means that you will be able to float $100K (at cost) of inventory on publishers credit (assuming an inventory turn of 2, $1 million in annual sales, and 60 day credit for all of your inventory), but the other $200K (at cost) of inventory will need to be paid for before you sell it. In other words, out of your pocket.
This is just the inventory cost. You will also need to pay for real estate, wages, fixtures, cash registers/computers, advertising, legal fees, etc.
Mirki2's suggestions are more suited to a college bookstore business model. I do not htink that this is what you are thinking about, but it is also not terribly suitable to Astoria, as there is no easy way to connect with the student population as a whole, and any students in the area will be attending a number of different institutions. Plus, the college bookstore market is highly seasonal and operates on much lower gross margins than trade bookstores.