201-24 43rd Ave 3 Unit Apartment Building $2,900,000 ($966,667/Unit) Bayside, NY 11361

A truly unique dual-asset acquisition opportunity in the heart of Bayside, Queens — a well-maintained three-story mixed-use brick corner building being offered together with a highly productive, 22-year established dental practice as a combined package at $2,900,000 ($2,200,000 real estate / $700,000 business).
The Property
This attractive three-story brick corner building at 201-24 43rd Avenue offers three distinct income streams under one roof. The ground floor houses an established dental practice of over two decades in a fully built-out ~1,100 SF professional dental suite with three treatment operatories, digital imaging infrastructure, full nitrous oxide plumbing, and a networked seven-workstation computer system. The second and third floors each feature a spacious 3-bedroom, 2-bathroom residential apartment. A full finished basement with a separate private entrance provides additional utility, and two private parking spaces complete the offering — a premium amenity in this dense Queens neighborhood.
The Income Opportunity
All three income streams are currently below market, creating significant and immediately actionable upside for a new owner with zero capital expenditure required. The ground-floor dental tenant currently pays $3,500/month on a month-to-month basis with no formal lease in place — fair market rent for this space is $5,500/month, representing $24,000 in additional annual income available immediately upon execution of a new lease. The second floor apartment rents for $2,750/month and the third floor for $2,600/month, both with approximately six months remaining on existing leases. Market rent for each unit is $3,750/month, adding $25,800 in additional annual income upon lease expiration. Combined, these three rent resets alone add $49,800 per year in gross income without a single dollar of capital invested.
Additionally, the current real estate tax burden of $35,000 annually appears assessed at a rate more consistent with a primarily commercial property. Given that the commercial space represents less than 50% of total building square footage — with the majority of the building comprising two full-floor residential apartments — a new owner has a strong basis to file a tax grievance seeking residential reclassification. A successful grievance could reduce the tax burden by an estimated 50%, adding approximately $17,500 per year directly to NOI. At full stabilization including the tax grievance, the property generates a NOI of $124,064 — a 5.64% cap rate on the $2,200,000 real estate asking price.
The Business
The dental practice operating on the ground floor (available separately at $700,000) is a full-scope, fee-for-service dominant general dentistry practice generating $730,962 in gross collections in 2025 — its strongest revenue year on record — with 2026 trending at an annualized pace of approximately $749,000. The practice operates on a PPO-only model with 50% private pay and 50% PPO insurance. No Medicaid. No HMO. No capitation. Adjusted net income is $139,779 with total Seller's Discretionary Earnings of $235,766. Three experienced staff members with periodontist are in place and committed to remaining post-sale. The practice currently operates only two days per week with no hygiene department, creating immediate and straightforward revenue growth opportunities for a new owner-operator.
The Owner-User Advantage
For a dentist-buyer, this is the ideal scenario. Own your building, eliminate your landlord, and collect $90,000 per year in residential rental income at market rents — effectively using your tenants to pay down your mortgage while you build equity in both the real estate and the practice simultaneously. With three equipped operatories, room for an associate, no hygienist currently in place, and only two operating days per week, the practice upside is immediate and requires no additional capital investment.
Location
Bayside is one of Northeast Queens' most affluent and desirable communities, with high household incomes, strong residential density, and excellent transit access via the Long Island Rail Road Bayside Station with direct service to Penn Station and Grand Central Madison. The surrounding neighborhood is characterized by stable, owner-occupied housing and a high-income patient demographic — ideal for a premium fee-for-service dental practice.
All inquiries strictly confidential. A signed Non-Disclosure Agreement is required prior to disclosure of tenant identities and detailed financial records. All information must be independently verified by the prospective buyer and their advisors.