For Sale
$3,300,000

15011 Northern BlvdQueens, NY 11354

6-Unit Building, High Potential

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional mixed-use property, located at 15011 Northern Blvd in Queens, NY 11354, presents a compelling investment opportunity. The 7,850 square foot building, constructed in 2005, boasts a strong current NOI of $189,684, yielding a 5.75% cap rate. A pro-forma analysis projects a significantly improved NOI of $242,462 and a 7.35% cap rate upon full occupancy. The building comprises six units: a ground floor doctor's office, three residential apartments (two 3-bedroom, 2-bathroom units and one 2-bedroom, 2-bathroom unit), and a duplex apartment (two 2-bedroom, 2-bathroom units) on the fourth floor. A fully finished basement adds further versatility. Currently operating at 83% occupancy, the property is projected to reach full occupancy by November 12, 2024. The asking price is $3,300,000, translating to $445.86 per square foot. This well-maintained building offers a blend of commercial and residential income streams, making it an attractive investment for owner-users or seasoned investors seeking strong returns in a desirable Queens location. The property's walk-up daycare potential in the basement adds to its long-term value and income generation possibilities.

Highlights

  • 7,850 SF mixed-use building in desirable Queens location, built in 2005.
  • Ground floor doctor's office.
  • Three residential apartments: two 3-bedroom/2-bathroom units and one 2-bedroom/2-bathroom unit.
  • Fourth floor duplex with two 2-bedroom/2-bathroom units.
  • Fully finished basement with walk-up daycare potential.

Property Details for 15011 Northern Blvd

Property type
Office properties, Mixed-use properties
Square Feet
7,850 SF
Year Built
2005
Units
6

Location Insight

City
Queens
County
Queens
State
New York
Latitude
40.76545
Longitude
-73.814634
15011 Northern Blvd, Queens, New York

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15011 Northern Blvd
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