Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    22215 Northern Blvd Flushing, NY 11361-3678

    • Office buildings
    • 59,337 SF
    • 0.48 lot acres
    OFF-MARKET
    Value Estimations
    $15,025,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-5234133
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 22215 Northern Blvd

    Year built
    1989
    Lot size
    0.48 lot acres
    Property size
    59,337 SF
    Zone code
    R6B
    Property type
    Office buildings
    APN
    06328-0001
    APU
    63280001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Flushing
    County
    Queens
    State
    New York
    Longitude
    -73.759
    Latitude
    40.7622
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $306,880
    $297,900
    $2,797,200
    $3,095,100
    -
    $662,000
    $6,216,000
    $6,878,000

    Comparable in this City

    • Value Estimation by Request
      1,150 SF

      20920 35th Ave

      OFFICE BUILDING (MULTI-STORY) • 1,150 SF
      20920 35th Ave, Flushing, NY 11361-1429
      View Details
    • Value Estimation
      $5,300,000
      20,250 SF

      4219 Bell Blvd

      OFFICE BUILDING (MULTI-STORY) • 20,250 SF
      4219 Bell Blvd, Flushing, NY 11361-2863
      View Details
    • Value Estimation
      $4,410,000
      16,266 SF

      21445 42nd Ave

      OFFICE BUILDING (MULTI-STORY) • 16,266 SF
      21445 42nd Ave, Flushing, NY 11361
      View Details
    • Value Estimation
      $1,435,000
      3,395 SF

      4102 216th St

      OFFICE BUILDING (MULTI-STORY) • 3,395 SF
      4102 216th St, Flushing, NY 11361
      View Details
    • Value Estimation
      $1,620,000
      5,200 SF

      3520 Bell Blvd

      OFFICE BUILDING (MULTI-STORY) • 5,200 SF
      3520 Bell Blvd, Flushing, NY 11361-1732
      View Details
    • Value Estimation
      $1,560,000
      4,950 SF

      21154 45th Dr

      PROFESSIONAL BUILDING • 4,950 SF
      21154 45th Dr, Flushing, NY 11361-3382
      View Details

    Similar Nearby for Sale

    • $12,990,000

      Bayside Prime Location Opportunity

      Prime Bayside location with high foot traffic and income potential.
      214-25 42Nd Ave, Bayside, NY 11361
      View Details
    • $2,950,000
      14,283 SF

      Bayside Commercial Property For Sale

      Long-term ground lease with strong income and redevelopment potential.
      3806 Bell Blvd, Bayside, NY 11361
      View Details
    • $10,988,000
      30,013 SF

      Bayside Office Building Package Deal

      Three modern office buildings with prime frontage on Northern Boulevard.
      210-08/12 Northern Blvd, Bayside, NY 11361
      View Details
    • $1,850,000
      Pending

      Bayside Colonial Multifamily with Office

      Renovated Bayside multifamily property with doctor's office and parking.
      43-27 220Th St, Bayside, NY 11361
      View Details
    • $1,499,000
      2,886 SF

      Bayside Duplex with Spacious Backyard

      Two-family home in Bayside near LIRR with parking.
      4316 212Th St, Bayside, NY 11361
      View Details
    • $1,660,000
      Pending

      Bayside Duplex in Prime Location

      Two-family home in the heart of Bayside near amenities.
      214-27 38Th Ave, Bayside, NY 11361
      View Details

    Similar Nearby for Lease

    • $5,000 /Mo

      Office Space with Utilities Included

      Office building for rent with utilities and parking included.
      218-14 Northern Blvd, Queens, NY 11361
      View Details
    • $5,000 /Mo
      1,100 SF

      Bayside Office Space For Rent

      Office space available in Bayside, includes utilities and parking.
      218-14 Northern Blvd, Bayside, NY 11361
      View Details
    • $5,100 /Mo
      20,038 SF

      Bayside Commercial Building For Rent

      Commercial building suitable for various businesses, utilities and parking included.
      218-14 Northern Boulevard, Bayside, NY 11361
      View Details
    • $6,888 /Mo
      3,228 SF

      Bayside Community Facility For Lease

      New construction community facility near LIRR and Bell Blvd.
      39-20 214Th Pl, Bayside, NY 11361
      View Details
    • $40 SF/Yr
      1,100 SF

      Bell Boulevard Office Space Available

      Office space for rent on Bell Boulevard with high traffic.
      3834-3850 Bell Blvd, Bayside, NY 11361
      View Details
    • $5,000 /Mo

      Bayside Office Space For Rent

      Office space available in a well-maintained building; utilities included.
      218 Northern Boulevard, Bayside, NY 11361
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    22215 Northern Blvd
    Flushing, NY 11361-3678
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.