Two-Story Spa & Wellness
For Sale
$999,900
1 School Street, Glen Cove, NY 11542
Commercial Sale, Glen Cove, NY
Property Size3,500 SF
Lot Size0.43 Acres
Price / SF$285.69
Days on Market156
Property Features for 1 School Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Parking
100
Parking features
Parking Lot, Garage
Standard status
Active
APN
0600-31-085-00-0026-UCA010200302
Lot size
0.43 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
14312
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Private
Building Details
Floors in Building
2
Flooring type
Tile - Ceramic
Listing Agency:
Douglas Elliman Real Estate
(516) 623-4500
Listed By:
Gus Lafkas · License #10301201664
(516) 445-0657
Added: Apr 2
Changed: Aug 19
Last Checked: Sep 4 at 6:06AM
MLS# 980614
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This salon space comprises 3,500 square feet across two floors within a well-maintained condominium complex. The property includes ceramic tile flooring, central air conditioning, natural gas heating, private water, and public sewer. Parking is provided through a combination of a parking lot and garage facilities.
Located in Glen Cove, the property includes 100 on-site parking spaces for client and staff use. The operating salon business is sold separately, allowing the offering to focus on the underlying real estate.
Located in Glen Cove, the property includes 100 on-site parking spaces for client and staff use. The operating salon business is sold separately, allowing the offering to focus on the underlying real estate.
Key Highlights
- 3,500 square feet arranged across two floors
- 100 on‑site parking spaces
- Located within a well‑maintained condominium complex
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$69,311
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,386,220
$1.4M
Cap Rate 7%
$990,157
$990.2K
Cap Rate 9%
$770,122
$770.1K
Market Conditions
NOI Build-Up for 3,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$105.0K $30.00/SF
− Vacancy
−$6.0K −$1.71/SF
EGI
$99.0K $28.29/SF
− OpEx
−$29.7K −$8.49/SF
NOI
$69.3K $19.80/SF
Area
Nassau County, NY
Vacancy
5.70%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,386,220
Cap Rate 7%
$990,157
Cap Rate 9%
$770,122
Alternative Uses
Best Use
Retail
$990.2K
$866.4K – $1.16M
NOI $69,311 @ 7.0% cap · market cap 6.93%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.31M
$2.02M – $2.70M
NOI $161,989 @ 7.0% cap · market cap 16.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,770
Businesses Nearby
163k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 39%
Shops & Services 37%
Office Supplies 12%
Leisure 11%
McDonald's
Dining
26,580 visits/mo
0.5 miles
Staples
Office Supplies
19,565 visits/mo
0.2 miles
AMC Glen Cove 6
Leisure
18,623 visits/mo
0.2 miles
Wendy's
Dining
17,929 visits/mo
0.5 miles
Mobil
Shops & Services
12,334 visits/mo
0.1 miles
Demographics for 11542, NY
29,171
Population
11,374
Households
2.6
Avg Household Size
43
Median Age
41%
College-Educated
86%
High-School Grad
6.7 sq mi
ZIP Area
4,354
Density / Sq Mi
$92,284
Median Household Income
$52,855
Median Earnings
$2,350
Median Rent
$659,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Amity Acupuncture Wellness PLLC — 10 Cedar Swamp Rd 2nd Floor Suite 10, Glen Cove, NY 11542
- Judge Acupuncture & Oriental Medicine Community Clinic — 14 Glen St, Glen Cove, NY 11542
- Universal Balance Acupuncture P.C. — 70 Glen St #380, Glen Cove, NY 11542
- Optimal Wellness — 70 Glen St #240, Glen Cove, NY 11542
- Li Acupuncture — 50 Glen St Suite 229, Glen Cove, NY 11542
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Salon-oriented condominium space with central air, ceramic tile flooring, and convenient on-site parking.
Where is this spa & wellness property located?
The property is located at 1 School Street Glen Cove, NY.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: 3,500 square feet arranged across two floors; 100 on‑site parking spaces; Located within a well‑maintained condominium complex
