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Mixed-Use Facility in Prime Location

15011 Northern Blvd, Flushing, NY

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For Sale

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Custom-built mixed-use property with commercial and residential spaces.

Type:RETAIL

Property size:

7,850 SF

Lot size:

0.04 Acres

Price / SF:

$445/SF

HighLights

Mixed‑use facility (7,850SF) with commercial and residential spaces.
Prime location near multiple transport links (bus routes, LIRR, subway lines).
Located in renowned School District #25 (PS 21, JHS Bleeker, Flushing High School).
Ground floor configured as a premium medical office (3,140SF).
Second and third levels each have 3‑bedroom, 2‑bathroom residential units.
Fourth tier offers two architecturally crafted 2‑bedroom, 2‑bathroom duplex residences.

We can help!

Listing Contact

Rosalyn Meyer

Learn more

For Sale

Contact for pricing

Custom-built mixed-use property with commercial and residential spaces.

Type:RETAIL

Property size:

7,850 SF

Lot size:

0.04 Acres

Price / SF:

$445/SF

Added:: Nov 11, 2024
Days on Market:: 581
Last Refresh:: May 20 at 8:27 pm

Property Features for 15011 Northern Blvd

General Information

Standard status: Active
Size: 7,850 SF
Lot size: 0.04 Acres
Property subtype: RETAIL

We can help!

Listing Contact

Rosalyn Meyer

Listing agent Rosalyn Meyer

Listing office Sotheby's - Daniel Gale | Manhasset

Listing date Nov 11, 2024

Source Moodyscre

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

All listing content including descriptions, pricing, images are the copyrighted material of Sotheby's - Daniel Gale | Manhasset

HighLights

Mixed‑use facility (7,850SF) with commercial and residential spaces.
Prime location near multiple transport links (bus routes, LIRR, subway lines).
Located in renowned School District #25 (PS 21, JHS Bleeker, Flushing High School).
Ground floor configured as a premium medical office (3,140SF).
Second and third levels each have 3‑bedroom, 2‑bathroom residential units.
Fourth tier offers two architecturally crafted 2‑bedroom, 2‑bathroom duplex residences.

Overview

This is a 2005 custom-built mixed-use facility with 7,850 square feet, blending commercial and residential spaces. The 3,140-square-foot ground floor is configured as a medical office, showcasing the property's adaptability for various professional requirements. The second and third levels each house residential units, complete with 3 bedrooms and 2 bathrooms. The fourth tier offers two duplex residences, each equipped with 2 bedrooms and 2 bathrooms. A 540-square-foot basement provides potential for further customization or storage solutions. The property is in proximity to transport links, including the Q28/13, Q15/15A bus routes, LIRR Murray Hill station, and main subway lines. Prime shopping districts are also within reach. Located in School District #25, prospective residents have access to PS 21 Elementary, JHS Bleeker Middle, and Flushing High School. The basement provides additional space for rental.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$395.6k	$50.40
− Vacancy	−$51.0k	−$6.50
EGI	$344.6k	$43.90
− OpEx	−$86.2k	−$10.97
NOI	$258.5k	$32.92

7,850 SF · lease $50.40/SF/yr · vacancy 12.90% · expense 25.00%

Alternative Uses

Best Use

Office B

$3.69M

$3.23M – $4.31M (±1% cap)

NOI $258,452 @ 7.0% cap · market cap 7.38%

Second Best

Apartment 5plus

$2.74M

$2.40M – $3.20M (±1% cap)

NOI $191,889 @ 7.0% cap · market cap 5.48%

Theoretical Best

Office A

$5.79M

$5.06M – $6.75M (±1% cap)

NOI $405,098 @ 7.0% cap · market cap 11.57%

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

Location Intelligence

Current Use by Public Records

Medical Office Space

Suggested Use

Location Insight

Map
Local Demand

City: Flushing
County: Queens
State: New York
Longitude: -73.8429
Latitude: 40.7758

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For sale
Mixed-use properties
NY
Flushing
15011 Northern Blvd

What type of property is this?

Mixed-use property - Custom-built mixed-use property with commercial and residential spaces.

Where is this mixed-use property located?

The property is located at 15011 Northern Blvd Flushing, NY.

What is the asking price?

The asking price for this property is $3,500,000.

What are key features of this property?

This property features: Mixed‑use facility (7,850SF) with commercial and residential spaces.; Prime location near multiple transport links (bus routes, LIRR, subway lines).; Located in renowned School District #25 (PS 21, JHS Bleeker, Flushing High School).

15011 Northern Blvd, Flushing, NY

Custom-built mixed-use property with commercial and residential spaces.

Property Features for 15011 Northern Blvd

General Information

We can help!

HighLights

Overview

Local Financial Insights For Office B

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Flushing Union Center Commercial Space

Flushing Retail and Office Building

Union Center: Class A Commercial

Flushing Retail Strip Center For Sale

Flushing Union Center Commercial Space

Union Center: Class A Commercial

Flushing Union Center Commercial Space

New Class A Commercial Development

Flushing Commercial Condominium For Sale

Union Center: Class A Commercial

Income-Producing Multifamily Property in Flushing

Union Center Commercial Space

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