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    Bayside Second-Floor Office Space Title is generated by Realmo AI

    45-57 Bell Boulevard, Bayside, NY 11361

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    For Lease
    $40 SF/Yr

    COMMERCIAL - Bayside, NY

    Lot size:
    0.10 Acres
    Added:
    Sep 23, 2024
    Days on Market:
    619
    Last Refresh:
    Jun 3 at 6:06 pm

    Property Features for 45-57 Bell Boulevard

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    R4-C2-3
    Standard status
    Active
    APN
    07331-0007
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Annual Amount
    17500

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1967
    Floors in Building
    2
    Number of units
    1

    We can help!

    Listing Contact
    Peter T. Orisses

    Listing agent Peter T. Orisses License #31OR0981911

    Listing office United Realty Associates 4557 Bell Blvd, Bayside, NY

    Listing date Sep 23, 2024

    MLS# L3580525

    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.

    HighLights

    • Bayside 2nd‑floor office space for rent
    • Lease terms include a 5‑year lease with an option and negotiable lease structure
    • Space is suitable for professional office, professional medical, or school use
    • Central Air cooling; natural gas forced‑air heating
    • Utilities tied to public sewer
    • Near buses with walkability to Northern Blvd and LIRR; EZ street parking in the area; NNN (triple net) lease

    Overview

    Located at 45-57 Bell Boulevard in Bayside, this second-floor office space offers flexible use for professional medical, professional office, or school operations. The property is available under a triple net lease structure, and terms include a 5-year lease with an option. The space is positioned for daily customer and student traffic and supports professional tenant requirements in a walkable urban setting.

    The location is positioned near all buses, with the ability to walk to Northern Blvd and the LIRR. High visibility and high pedestrian traffic can support businesses that benefit from consistent foot traffic, while the surrounding area offers easy street parking for visitors and staff. Public transit access and walkability help simplify commuting for employees and clients.

    Ideal for an operator seeking a multi-purpose second-floor location, this space fits professional medical practices, professional offices, and school-related uses, subject to applicable requirements. The triple net lease structure and 5-year term with an option provide longer-term stability for qualified tenants. Negotiable lease terms allow for discussions around fit for the intended use within the property’s commercial framework.
    Property Profile Location Intelligence

    Current Use by Public Records

    MNM Consultants Inc. Insurance Agency R. j. Russo ... Electrical Service

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office 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
    -73.781264
    Latitude
    40.788553

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    FAQs

    What type of property is this?
    Office units - Second-floor space suited for professional office, medical, or school use with strong visibility and transit access.
    Where is this office units located?
    The property is located at 45-57 Bell Boulevard Bayside, NY.
    What is the lease rate?
    The lease rate is $40 SF/Yr.
    What are key features of this property?
    This property features: Bayside 2nd‑floor office space for rent; Lease terms include a 5‑year lease with an option and negotiable lease structure; Space is suitable for professional office, professional medical, or school use
    (718) 631-1900
    We can help!
    Listing Contact
    Peter T. Orisses
    Real Estate License ID: 31OR0981911
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    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
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    45-57 Bell Boulevard, Bayside, NY 11361
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