Mixed-Use Building with Medical
43-24 215th Street, Bayside, NY 11361
For Sale
$2,195,000
Residential Income, Bayside, NY
Property Size4,027 SF
Lot Size0.07 Acres
Price / SF$545.07
Days on Market8
Property Features for 43-24 215th Street
General Information
Property type
Property subtype
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Half bathrooms
Rooms
Parking features
Subdivision
High school district
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Property Use
Medical Specialty
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Water source
Amenities
hardwood floors
private balconies
high ceilings
Building Details
Year built
Floors in Building
Flooring type
Building materials
Architectural style
Buildings
Listing Agency:
HANMI REALTY
Listed By:
Mi Ryoung Chong
(718) 961-8801
Added: Nov 7
Changed: Nov 11
Last Checked: Nov 14 at 12:06AM
MLS# 12060781
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 4,027-square-foot brick property combines four residential units with a physical therapy office at street level. The building was constructed in 2007 and includes a finished basement, hardwood flooring, four separate utility meters, and a driveway with space for five cars. Three of the four residential units are occupied, and the apartments are offered on month-to-month leases. The medical office lease has one year remaining and includes a five-year renewal option.
The 2,925-square-foot lot is zoned R4. The property is a few blocks from the Bayside LIRR station and near the Northern Boulevard, Bell Boulevard, and Springfield Boulevard corridors. Nearby bus service includes the N20G, N20X, Q12, Q13, and Q31 routes.
The 2,925-square-foot lot is zoned R4. The property is a few blocks from the Bayside LIRR station and near the Northern Boulevard, Bell Boulevard, and Springfield Boulevard corridors. Nearby bus service includes the N20G, N20X, Q12, Q13, and Q31 routes.
Key Highlights
- Four‑unit mixed‑use building with a ground‑floor physical therapy office
- 4,027 square feet on a 2,925‑square‑foot lot
- Brick construction completed in 2007; full finished basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$132,584
Cap Rate
6.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,651,680
$2.7M
Cap Rate 7%
$1,894,057
$1.9M
Cap Rate 9%
$1,473,156
$1.5M
Market Conditions
NOI Build-Up for 4,027 SF
Gross rent
$203.0K $50.40/SF
− Vacancy
−$26.2K −$6.50/SF
EGI
$176.8K $43.90/SF
− OpEx
−$44.2K −$10.97/SF
NOI
$132.6K $32.92/SF
Area
Queens County, NY
Vacancy
12.90%
Lease Rate
$50.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,651,680
Cap Rate 7%
$1,894,057
Cap Rate 9%
$1,473,156
Alternative Uses
Best Use
Office B
$1.89M
$1.66M – $2.21M
NOI $132,584 @ 7.0% cap · market cap 6.04%
Second Best
Multifamily LT 5
$1.42M
$1.24M – $1.66M
NOI $99,510 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$2.97M
$2.60M – $3.46M
NOI $207,813 @ 7.0% cap · market cap 9.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
1
Office units
75%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,573
Businesses Nearby
Explore this area
Business Placement
Demographics for 11361, NY
29,116
Population
11,934
Households
2.4
Avg Household Size
43
Median Age
48%
College-Educated
88%
High-School Grad
1.7 sq mi
ZIP Area
17,127
Density / Sq Mi
$108,391
Median Household Income
$58,410
Median Earnings
$2,315
Median Rent
$900,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in Queens County, NY
Properties on Market for Mixed-use properties in Queens County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four residential units sit above a ground-floor physical therapy practice, with a finished basement and private driveway.
Where is this mixed-use property located?
The property is located at 43-24 215th Street Bayside, NY.
What is the asking price?
The asking price for this property is $2,195,000.
What are key features of this property?
This property features: Four‑unit mixed‑use building with a ground‑floor physical therapy office; 4,027 square feet on a 2,925‑square‑foot lot; Brick construction completed in 2007; full finished basement
