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    15011 Northern Blvd Queens, NY 11354

    For Sale
    $3,300,000

    6-Unit Building, High Potential

    Property size:
    7,850 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional mixed-use property, located at 15011 Northern Blvd in Queens, NY 11354, presents a compelling investment opportunity. The 7,850 square foot building, constructed in 2005, boasts a strong current NOI of $189,684, yielding a 5.75% cap rate. A pro-forma analysis projects a significantly improved NOI of $242,462 and a 7.35% cap rate upon full occupancy. The building comprises six units: a ground floor doctor's office, three residential apartments (two 3-bedroom, 2-bathroom units and one 2-bedroom, 2-bathroom unit), and a duplex apartment (two 2-bedroom, 2-bathroom units) on the fourth floor. A fully finished basement adds further versatility. Currently operating at 83% occupancy, the property is projected to reach full occupancy by November 12, 2024. The asking price is $3,300,000, translating to $445.86 per square foot. This well-maintained building offers a blend of commercial and residential income streams, making it an attractive investment for owner-users or seasoned investors seeking strong returns in a desirable Queens location. The property's walk-up daycare potential in the basement adds to its long-term value and income generation possibilities.

    Property Features for 15011 Northern Blvd

    General Information

    Property type
    Multifamily properties
    Square Feet
    7,850 SF

    Building Details

    Year Built
    2005
    Units
    6

    HighLights

    • 7,850 SF mixed‑use building in desirable Queens location, built in 2005.
    • Ground floor doctor's office.
    • Three residential apartments: two 3‑bedroom/2‑bathroom units and one 2‑bedroom/2‑bathroom unit.
    • Fourth floor duplex with two 2‑bedroom/2‑bathroom units.
    • Fully finished basement with walk‑up daycare potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Yun & Park LLC Attorney

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Queens
    County
    Queens
    State
    New York
    Longitude
    -73.814634
    Latitude
    40.76545

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    FAQs

    What type of property is this?
    Multifamily property - 6-Unit Building, High Potential
    Where is this multifamily property located?
    The property is located at 15011 Northern Blvd Queens, NY.
    What is the asking price?
    The asking price for this property is $3,300,000.
    What are key features of this property?
    This property features: 7,850 SF mixed-use building in desirable Queens location, built in 2005.; Ground floor doctor's office.; Three residential apartments: two 3-bedroom/2-bathroom units and one 2-bedroom/2-bathroom unit.
    Request Owner's contact information
    15011 Northern Blvd Queens, NY 11354
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    Queens, NY 11354
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    Realmo Value Estimation

    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.

    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.

    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
    15011 Northern Blvd Queens, NY 11354
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