Mixed-Use
Bayside New Construction Mixed-Use
215-15 Northern Blvd, Queens, NY 11361
Listing Price: $15,750,000
Investment Overview
215-15 Northern Boulevard is a fully leased, three-story mixed-use asset with on-site parking, offering a turnkey opportunity for investors or 1031 exchange buyers seeking stable, immediate cash flow. Anchored by The Learning Experience (2,700 SF on the first floor and 7,300 SF on the second floor, lease through April 2030), the building also features long-term tenants such as Tiger Schulmann's Martial Arts, Register Abstract Co., Lucia Pizza Bayside and two professional office occupiers. All retail tenants reimburse some portion or all CAM charges and/or real estate taxes; the office tenants are on gross leases.
Bayside New Construction Mixed-Use
Investment Highlights
- Pricing and yield: Offered at $15,750,00, reflecting a 6.00% capitalization rate on current net operating income
- Secure, long term income: 100% leased to six tenants with staggered expirations from 2029 to 2036, featuring built-in annual escalations (max 3%) and extension options to further de-risk cash flow
- Prime Bayside retail corridor: Situated on Northern Boulevard with 50,000+ vehicles per day, the property benefits from high visibility and walk-by traffic
- Best-in-class accessibility: Blocks from LIRR Bayside station (30 minutes to Midtown Manhattan) and served by Q12/Q13/Q3 bus lines; minutes to the Cross Island Parkway, Clearview Expressway, LIE and Grand Central Parkway
- Proximity to airports: 10 miles to LaGuardia and 12 miles to JFK, enhancing appeal to both local and corporate occupiers
- Surrounding co-tenancy: Nearby national and credit brands include Starbucks, McDonald's, Subway, Dunkin', Verizon, plus popular retailers on Bell Boulevard such as Martha's Country Bakery and Taverna Kyclades
Exclusively Listed By
Financing By
Listing Price: $15,750,000
Investment Highlights
- Pricing and yield: Offered at $15,750,00, reflecting a 6.00% capitalization rate on current net operating income
- Secure, long term income: 100% leased to six tenants with staggered expirations from 2029 to 2036, featuring built-in annual escalations (max 3%) and extension options to further de-risk cash flow
- Prime Bayside retail corridor: Situated on Northern Boulevard with 50,000+ vehicles per day, the property benefits from high visibility and walk-by traffic
- Best-in-class accessibility: Blocks from LIRR Bayside station (30 minutes to Midtown Manhattan) and served by Q12/Q13/Q3 bus lines; minutes to the Cross Island Parkway, Clearview Expressway, LIE and Grand Central Parkway
- Proximity to airports: 10 miles to LaGuardia and 12 miles to JFK, enhancing appeal to both local and corporate occupiers
- Surrounding co-tenancy: Nearby national and credit brands include Starbucks, McDonald's, Subway, Dunkin', Verizon, plus popular retailers on Bell Boulevard such as Martha's Country Bakery and Taverna Kyclades
Investment Overview
215-15 Northern Boulevard is a fully leased, three-story mixed-use asset with on-site parking, offering a turnkey opportunity for investors or 1031 exchange buyers seeking stable, immediate cash flow. Anchored by The Learning Experience (2,700 SF on the first floor and 7,300 SF on the second floor, lease through April 2030), the building also features long-term tenants such as Tiger Schulmann's Martial Arts, Register Abstract Co., Lucia Pizza Bayside and two professional office occupiers. All retail tenants reimburse some portion or all CAM charges and/or real estate taxes; the office tenants are on gross leases.
Exclusively Listed By
Financing By
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