38 Northern BlvdGreat Neck, NY 11021

Property Details for 38 Northern Blvd

Year built

1986

Construction

FRAME

Lot size

0.18 AC

Property size (Sq ft)

352 SF

Property type

Office buildings

APN

02-055-00-0673

APU

2055000673

Description

This exceptional 8,600 square foot mixed-use building, located at 38 Northern Boulevard in Great Neck, New York, presents a unique investment opportunity. Built in 1986 and extensively renovated in 2009, this three-story Class C building boasts a prime location with high visibility and brand exposure, experiencing 40,000 cars passing daily. The property includes 21 parking spaces and sits on a 7,680 square foot lot. The building features a full camera security system, a five-zone HVAC system (with three condensers under two years old and two older condensers), and a complete sprinkler system (dry system in the parking lot and wet system indoors). A significant addition was constructed 15 years ago, and the concrete slab roof with a hard rubber top is only two years old. An 800 AMP service and an Otis elevator are also included. A back staircase provides private entry for medical professionals. All certificates of occupancy are complete. This owner/user opportunity is ideal for a cardiology practice or similar business, offering ample space and modern amenities. The asking price is $3,800,000.

• CAP approach

  CAP return

  Valuation

  6%

  $69,108

  6.5%

  $63,792

  7%

  $59,236

• Comparable approach

  Method

  Valuation

  Relative Method

  $45,992

  Geo Method

  $45,992

• Alternative Use

  Use

  Valuation

  Residential

  $79,102

  Hospitality

  $72,457

  Educational

  $60,284

  Medical

  $62,357

  Retail

  $93,775

Location Insight

City

Great Neck

County

Nassau

State

New York

Latitude

40.7732

Longitude

-73.7329

CBSA code

35620

CBSA name

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

Property Tax & Assessments

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