12 Northern BlvdGreat Neck, NY 11021

Property Details for 12 Northern Blvd

Year built

1948

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.09 AC

Property size (Sq ft)

375 SF

Property type

Retail space

APN

02-055-00-0660

APU

2055000660

Description

This vacant, single-story retail building presents a compelling investment or owner-user opportunity. Located at 12 Northern Boulevard in Great Neck, NY, this 2,500 square foot property sits on a 4,051 square foot lot and boasts four parking spaces. Built in 1948, the building is zoned for Business A District (B-A) use, making it ideal for a variety of retail ventures. The property enjoys exceptional visibility on Northern Boulevard, a major thoroughfare with over 50,000 average annual daily traffic, ensuring high exposure for any business. Its convenient location offers easy access to public transportation, including proximity to the Little Neck and Douglaston LIRR stations, as well as several bus routes. The surrounding area is densely populated, with approximately 731,747 residents within a five-mile radius, and features a strong concentration of national and regional retailers, including BP, Starbucks, H-MART, Chase Bank, and AT&T, creating a vibrant and established commercial environment. This property's prime location, ample parking, and high traffic volume make it an exceptional opportunity for a savvy investor or business owner seeking a strong foothold in a thriving market. The asking price is $1,250,000, translating to $500 per square foot.

• CAP approach

  CAP return

  Valuation

  6%

  $91,138

  6.5%

  $84,127

  7%

  $78,118

• Comparable approach

  Method

  Valuation

  Relative Method

  $123,474

  Geo Method

  $123,474

• Alternative Use

  Use

  Valuation

  Residential

  $70,965

  Hospitality

  $65,003

  Educational

  $54,082

  Medical

  $55,942

  Retail

  $84,127

Location Insight

City

Great Neck

County

Nassau

State

New York

Latitude

40.7726

Longitude

-73.7333

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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