705 Middle Neck RdGreat Neck, NY 11023

Property Details for 705 Middle Neck Rd

Year built

1910

Construction

FRAME

Lot size

0.06 AC

Property size (Sq ft)

2,495 SF

Property type

Office buildings

APN

01-088-00-0475

APU

1088000475

Description

This exceptional commercial property at 705 Middle Neck Road, Great Neck, NY 11023, offers 25,000 square feet of versatile office space, ideal for a variety of businesses. Recently renovated in 2022, the building boasts modern amenities and a prime location on a corner lot at the intersection of Middle Neck Road and Hicks Lane, ensuring high visibility and accessibility. The property features three suites within a four-building complex, with a minimum divisible space of 800 square feet and a maximum contiguous space of 13,000 square feet, providing flexibility for businesses of all sizes. Currently, 13,000 square feet is available. The building's three stories offer a 9-foot ceiling height, and the updated entrance includes high-tech finishes and a reception area with direct elevator access. The 0.8-acre lot provides ample space, and 25 private parking spaces are available for tenants and their clients. The building is conveniently located near major businesses such as Chase Bank, True Value, 7-Eleven, and the USPS, and benefits from public transportation access. Built in 1910, this Class B property offers a blend of historical charm and modern functionality, making it an attractive option for businesses seeking a prestigious and convenient location in Great Neck. The space is currently in shell condition, allowing for customization to meet specific tenant needs. Air conditioning is available.

• CAP approach

  CAP return

  Valuation

  6%

  $412,498

  6.5%

  $380,767

  7%

  $353,570

• Comparable approach

  Method

  Valuation

  Relative Method

  $325,997

  Geo Method

  $325,997

• Alternative Use

  Use

  Valuation

  Residential

  $472,152

  Hospitality

  $432,488

  Educational

  $359,825

  Medical

  $372,200

  Retail

  $559,728

Location Insight

City

Great Neck

County

Nassau

State

New York

Latitude

40.8059

Longitude

-73.735

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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