21515 Northern Boulevard Bayside, NY 11361
MULTI_FAMILY - Bayside, NY
- Added:
- Jul 16, 2025
- Days on Market:
- 362
- Last Refresh:
- Jul 12 at 3:06 am
Property Features for 21515 Northern Boulevard
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R6B
- Parking
- 23
- Standard status
- Pending
- APN
- 06308-7501
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 109906
Utilities
- Sewer type
- Public Sewer
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 2014
- Floors in Building
- 3
- Number of units
- 9
- Building materials
- Frame
Listing agent Richard Matt Shane License #10301216230 (516) 279-8828
Listing office All Island Estates Realty Corp 3242 Railroad Ave, Wantagh, NY (516) 783-5600
Listing date Jul 16, 2025
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The building provides frontage on Northern Boulevard and 215th Street (101' and 143', respectively) and is described as having strong signage and exposure. Zoning is listed as R6B, with additional referenced zoning components of R4 and C2-2. The offering includes reported annual rent by floor, with ground-floor tenants including KOH Architecture and Mava Law; second-floor tenant The Learning Experience; and third-floor tenants including multiple commercial occupants plus legal services. Financials provided include gross income of $1,371,910.15 annually, expenses of $159,607.78 annually, and reported NOI of $1,212,302.37 annually (8.08% cap).
Key Highlights
- 30,700+ SF corner building in Bayside on Northern Blvd with private parking lot and 23 parking spaces
- 100% occupied with 13 tenants across three floors and ground floor; multiple lease expirations from 2026 to 2035
- Financials: $1,371,910.15 annual gross income; $1,212,302.37 annual NOI; 8.08% cap rate
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.42M | $46.20 |
| − Vacancy | −$53.9k | −$1.76 |
| EGI | $1.36M | $44.44 |
| − OpEx | −$614.0k | −$20.00 |
| NOI | $750.4k | $24.44 |
