Current Use by Public Records
- Mixed-use properties
Property Details for 150-15 Northern Blvd
- Year built
- 2005
- Property type
- Mixed-use properties
Description
This exceptional five-story mixed-use property, located at 150-15 Northern Boulevard in Flushing, Queens, New York, presents a compelling investment opportunity. The 7,850 square foot building, constructed in 2005, boasts a desirable location on a high-traffic thoroughfare. The property features a diverse mix of six units: two retail spaces situated on the cellar and first floor, and four residential apartments, each with multiple bedrooms and bathrooms. The second, third, and fourth floors each contain a three-bedroom, two-bathroom apartment, while the fifth floor offers a two-bedroom, two-bathroom unit. The building sits on a 1,600 square foot lot and is zoned R6A/C2-2. The current Net Operating Income (NOI) is $136,750, yielding a 3.52% cap rate. However, a pro-forma NOI of $199,150 projects a significantly higher 5.13% cap rate, indicating substantial upside potential. The asking price is $3,880,000, translating to a price per square foot of $494.27. Conveniently located near public transportation, including the Q13, Q15, Q15A, and Q28 buses, the LIRR Murray Hill station (within five minutes), and the 7 train (a 20-minute walk), this property offers unparalleled access to a vibrant and densely populated area. Nearby amenities include supermarkets, restaurants, shops, and banks. Owner/seller financing is available. This is a rare opportunity to acquire a well-positioned mixed-use property with strong income potential and significant upside.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.8145
- Latitude
- 40.7654
