Current Use by Public Records
- Yun & Park LLC / Law Firm
Property Details for 15011 Northern Blvd
- Year built
- 2005
- Property type
- Office Spaces
- Property subtype
- Mixed-use properties
Description
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.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.8146
- Latitude
- 40.7654
