Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    37-02 Francis Lewis Blvd Bayside, NY 11361

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Luxury Bayside 3-family, high returns.

    Property size:
    3,257 SF

    Property Features for 37-02 Francis Lewis Blvd

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,257 SF
    Class
    C

    Building Details

    Year Built
    2024
    Buildings
    3
    Stories
    3

    We can help!

    Listing Contact
    Luciane R. Serifovic
    Luciane R. Serifovic

    Listing Agency: Luxian International Realty Listing Agent: Luciane R. Serifovic

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Exceptional investment opportunity in Bayside, NY, presents a brand-new, three-family home, completed in 2024. This legal three-family residence boasts a prime location just two blocks from the Long Island Rail Road, providing easy access to Manhattan and surrounding areas. The property features three units: a spacious duplex (Unit 1) with a private backyard and parking, offering approximately 1,806 square feet of living space (including a 903 sq ft cellar); a 3-bedroom, 1.5-bath unit (Unit 2) with two private balconies, totaling approximately 986 square feet; and a luxurious 3-bedroom duplex penthouse (Unit 3) featuring approximately 1,393 square feet of living space, high cathedral ceilings, two balconies, and a private terrace. All units are currently 100% occupied. The building's construction incorporates energy-efficient features such as 12-inch thick walls, extra insulation, and double-pane windows, promising reduced operating costs and a comfortable living environment. The total square footage is 3,257, spread across three stories. This property offers a compelling combination of location, modern amenities, and strong rental potential, making it an ideal investment for owner-users seeking high returns. The asking price is $2,488,000. Under-construction pricing expires March 1st.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bayside
    County
    Queens
    State
    New York
    Longitude
    -73.7858063
    Latitude
    40.7629087

    Nearby Similar for Sale

    • $10,988,000
      5,000 SF

      Modern Commercial Portfolio on Northern Boulevard

      Three-building commercial portfolio with high visibility and upside potential.
      210-08/12 Northern Boulevard, Bayside, NY 11361
      View Details
    • $300,000
      1,100 SF

      Bayside Business Opportunity For Sale

      Restaurant and bar business opportunity in Bayside, Queens.
      4009 Bell Blvd, Bayside, NY 11361
      View Details
    • $550,000
      3,000 SF

      Nail Salon Business Opportunity

      Established nail salon business for sale in Bayside, NY.
      203-06 45Th Ave, Bayside, NY 11361
      View Details
    • New
      $2,588,000
      3,383 SF

      New Bayside Three-Family Residence

      New three-family residence near LIRR, stores, restaurants, and Manhattan.
      37-08 Francis Lewis Blvd, Bayside, NY 11361
      View Details
    • New
      $999,888
      Pending

      Bayside All Brick Legal Duplex

      Legal 2-family in the heart of Bayside, convenient to transportation.
      207-04 42Nd Ave, Bayside, NY 11361
      View Details
    • $998,000
      Pending

      Two-Family Townhouse in Bayside

      Two-family townhouse in Oakland Gardens, Bayside, offering income potential.
      5840 206Th St, Bayside, NY 11364
      View Details
    • New
      $2,398,888

      New Bayside Three-Family Residence

      Brand-new three-family residence near LIRR, stores, and restaurants.
      37-02 Francis Lewis Blvd, Bayside, NY 11361
      View Details
    • New
      $1,045,000
      805 SF

      Bayside Multifamily Investment Opportunity

      Two 1-bedroom units in excellent Bayside location.
      20410 42Nd Ave, Bayside, NY 11361
      View Details
    • New
      $2,280,000
      Pending

      Contemporary Two-Family Residence in Bayside

      Luxurious two-family home near Northern Boulevard with modern design.
      200-38 45Th Ave, Bayside, NY 11361
      View Details
    • $2,088,000
      Pending

      Bayside Multifamily Investment Property

      Like-new triplex in Bayside, central north Flushing location.
      3617 194Th St, Bayside, NY 11358
      View Details
    • $1,878,888
      Pending

      Renovated Bayside Two-Family Home

      Spacious, renovated two-family home in Bayside, close to transportation.
      39-26/24 213Th St, Bayside, NY 11361
      View Details
    • $1,698,000

      Bayside Two-Family Home Opportunity

      Spacious two-family home in Bay Terrace community with income potential.
      215-03 17Th Ave, Bayside, NY 11360
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Luxury Bayside 3-family, high returns.
    Where is this multifamily property located?
    The property is located at 37-02 Francis Lewis Blvd Bayside, NY.
    What is the asking price?
    The asking price for this property is $2,488,000.
    What are key features of this property?
    This property features: $2,488,000 asking price.; New construction, legal three-family in Bayside, NY.; 3,257 square feet, 100% occupancy.
    (917) 567-8767 Call to check price and availability
    Request Owner's contact information
    37-02 Francis Lewis Blvd Bayside, NY 11361
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    37-02 Francis Lewis Blvd
    Bayside, NY 11361
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    37-02 Francis Lewis Blvd Bayside, NY 11361
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Luciane R. Serifovic
    Luciane R. Serifovic
    Real Estate License ID: 10491208575
    (917) 567-8767
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!