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Newly Built Corner Retail & Office Building 215-15 Northern Blvd 30,771 SF 98% Leased 4-Star Retail Building Bayside, NY 11361 $15,000,000 ($487.47/SF) 8.04% Cap Rate
INVESTMENT HIGHLIGHTS
- Calling All Investors, Developers & End-Users!!! 100% Occupied 30,700+ Sqft. Corner Building With Private Parking Lot On Prestigious Northern Blvd.!!!
- The Building Features Excellent Signage, Great Exposure, R6B/R4/C2-2 Zoning, High 17’ Ceilings, Private Parking Lot, 2 Elevators, Sprinklers, +++!!!
- The Property Has 101’ Of Frontage On Northern Blvd. + 143’ Of Frontage On 215th St. & Has A Daily Traffic Count Of 50,000+ Vehicles Per Day!!!
- The Property Is Located In The Heart Of Bayside On Northern Blvd. 2 Blocks From Bell Blvd. & Only Minutes From The Bayside LIRR Station!!!
- Neighbors Include Starbucks, BMW, Jeep-Dodge-Ram, Nissan, USPS, UPS, Northwell Health, Chase Bank, Capital One, Citibank, TD Bank, +++!!!
- This Property Offers HUGE Upside Potential!!!
EXECUTIVE SUMMARY
Calling All Investors, Developers & End-Users!!! 100% Occupied 30,700+ Sqft. Corner Building With Private Parking Lot On Prestigious Northern Blvd. For Sale!!! The Property Is Located In The Heart Of Bayside On Northern Blvd. 2 Blocks From Bell Blvd. & Only Minutes From The Bayside LIRR Station!!! The Property Is Situated Midway Between I-295 & The Cross Island Pkwy.!!! The Building Features Excellent Signage, Great Exposure, R6B/R4/C2-2 Zoning, High 17’ Ceilings, Private Parking Lot, 2 Elevators, Sprinklers, Strategically Placed Curb Cut, 3 Stories, 23 Parking Spaces, 3 Phase Power, All New LED Lighting, CAC, +++!!! Neighbors Include Starbucks, BMW, Jeep-Dodge-Ram, Nissan, USPS, UPS, Northwell Health, Chase Bank, Capital One, Citibank, TD Bank, Investor’s Bank, Verizon, AT&T, CubeSmart Self Storage, Staples, Dunkin’, 7-Eleven, Tropical Smoothie Cafe, Wendy’s, Orangetheory Fitness, Bareburger, CVS, +++!!! The Property Has 101’ Of Frontage On Northern Blvd. + 143’ Of Frontage On 215th St.!!! This Property Has A Daily Traffic Count Of 50,000+ Vehicles Per Day!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Income:
1st Floor:
Register Abstract Company (1,060 Sqft.): $98,808.12 Ann.; 3% Ann. Inc.; Lease Exp.: 1/31/30.
Lucia Pizza (1,200 Sqft.): $75,398.23 Ann.; 3% Ann. Inc.; Lease Exp.: 6/30/32.
Tiger Schulmann (3,500 Sqft.): $166,980 Ann.; 10% Inc. Every 5 Years; Lease Exp.: 9/30/29.
2nd Floor:
The Learning Experience (10,000 Sqft.): $484,660.08 Ann.; 10% Inc. Every 5 Years; Lease Exp.: 4/30/35.
3rd Floor:
Mark Khandhorov, Esq. (1,800 Sqft.): $60,000 Ann.; 3% Ann. Inc.; Lease Exp.: 1/31/28.
RJ Capital (2,000 Sqft.): $150,000 Ann.; 3% Ann. Inc.; Lease Exp.: 9/30/29.
Lend IQ (8,500 Sqft.): $150,000 Ann.; 3% Ann. Inc.; Lease Exp.: 10/31/34.
Ground Floor:
KOH Architecture (700 Sqft.): $30,000 Ann.; 10% Inc. Every 5 Years; Lease Exp.: 4/30/26.
Mava Law (600 Sqft.): $30,000 Ann.; 10% Inc. Every 5 Years; Lease Exp.: 10/31/29.
Tax Reimbursement: $96,185.04 Ann.
CAM Reimbursement: $23,155.20 Ann.
Expenses:
Gas: $0 Ann.
Electric: $15,000 Ann.
Water: $3,900 Ann.
Trash: $850 Ann.
Insurance: $27,960 Ann.
Maintenance & Repairs: $1,991.62 Ann.
Taxes: $109,906.16 Ann.
Gross Income: $1,365,186.67 Ann.
Total Expenses: $159,607.78 Ann.
Net Operating Income (NOI): $1,205,578.89 Ann. (8.04% Cap!!!)
Income:
1st Floor:
Register Abstract Company (1,060 Sqft.): $98,808.12 Ann.; 3% Ann. Inc.; Lease Exp.: 1/31/30.
Lucia Pizza (1,200 Sqft.): $75,398.23 Ann.; 3% Ann. Inc.; Lease Exp.: 6/30/32.
Tiger Schulmann (3,500 Sqft.): $166,980 Ann.; 10% Inc. Every 5 Years; Lease Exp.: 9/30/29.
2nd Floor:
The Learning Experience (10,000 Sqft.): $484,660.08 Ann.; 10% Inc. Every 5 Years; Lease Exp.: 4/30/35.
3rd Floor:
Mark Khandhorov, Esq. (1,800 Sqft.): $60,000 Ann.; 3% Ann. Inc.; Lease Exp.: 1/31/28.
RJ Capital (2,000 Sqft.): $150,000 Ann.; 3% Ann. Inc.; Lease Exp.: 9/30/29.
Lend IQ (8,500 Sqft.): $150,000 Ann.; 3% Ann. Inc.; Lease Exp.: 10/31/34.
Ground Floor:
KOH Architecture (700 Sqft.): $30,000 Ann.; 10% Inc. Every 5 Years; Lease Exp.: 4/30/26.
Mava Law (600 Sqft.): $30,000 Ann.; 10% Inc. Every 5 Years; Lease Exp.: 10/31/29.
Tax Reimbursement: $96,185.04 Ann.
CAM Reimbursement: $23,155.20 Ann.
Expenses:
Gas: $0 Ann.
Electric: $15,000 Ann.
Water: $3,900 Ann.
Trash: $850 Ann.
Insurance: $27,960 Ann.
Maintenance & Repairs: $1,991.62 Ann.
Taxes: $109,906.16 Ann.
Gross Income: $1,365,186.67 Ann.
Total Expenses: $159,607.78 Ann.
Net Operating Income (NOI): $1,205,578.89 Ann. (8.04% Cap!!!)
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$1,356,187
|
$44.07
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$1,356,187
|
$44.07
|
| Taxes |
$109,906
|
$3.57
|
| Operating Expenses |
$49,702
|
$1.62
|
| Total Expenses |
$159,608
|
$5.19
|
| Net Operating Income |
$1,196,579
|
$38.89
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $1,356,187 |
| Annual Per SF | $44.07 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $1,356,187 |
| Annual Per SF | $44.07 |
| Taxes | |
|---|---|
| Annual | $109,906 |
| Annual Per SF | $3.57 |
| Operating Expenses | |
|---|---|
| Annual | $49,702 |
| Annual Per SF | $1.62 |
| Total Expenses | |
|---|---|
| Annual | $159,608 |
| Annual Per SF | $5.19 |
| Net Operating Income | |
|---|---|
| Annual | $1,196,579 |
| Annual Per SF | $38.89 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
30,771 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2014
Price
$15,000,000
Price Per SF
$487.47
Cap Rate
8.04%
NOI
$1,205,579
Percent Leased
98%
Tenancy
Multiple
Building Height
3 Stories
Slab To Slab
10’
Building FAR
2.14
Lot Size
0.33 AC
Zoning
R6B/R4/C2-2 - Residential With A Commercial Overlay
Parking
23 Spaces (0.75 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- 24 Hour Access
- Conferencing Facility
- Corner Lot
- Restaurant
- Security System
- Signage
- Tenant Controlled HVAC
- Wheelchair Accessible
- Roof Terrace
- Storage Space
- Air Conditioning
- Balcony
Walk Score®
Walker's Paradise (94)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 06308-1001 | Total Assessment | $1,862,059 (2025) |
| Land Assessment | $374,976 (2025) | Annual Taxes | $109,906 ($3.57/SF) |
| Improvements Assessment | $1,487,083 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
06308-1001
Land Assessment
$374,976 (2025)
Improvements Assessment
$1,487,083 (2025)
Total Assessment
$1,862,059 (2025)
Annual Taxes
$109,906 ($3.57/SF)
Tax Year
2024
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Newly Built Corner Retail & Office Building | 215-15 Northern Blvd
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