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    40 Stone Ave, Unit O1 Great Neck Plaza, NY 11021

    Sponsored
    For Sale
    $499,000

    SINGLE_FAMILY - Great Neck Plaza, NY

    Type:Office
    Days on Market:
    47
    Last Refresh:
    Jan 30 at 6:06 am

    Property Features for 40 Stone Ave

    General Information

    Property type
    Residential
    Property subtype
    Office
    Standard status
    Active
    Appliances
    Cooktop, Dishwasher, Microwave, Refrigerator

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Window Unit(s), Wall/Window Unit(s)
    Water source
    Public

    Building Details

    Building materials
    Block

    We can help!

    Listing Contact
    Weidong Shen

    Lin Pan Realty Group LLC (516) 693-9888

    Listing agent Weidong Shen

    Listing date Dec 15, 2025

    MLS# 943866

    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.

    Learn more

    Property Insight Report

    Overview

    Medical Office in Great Neck

    This is an exceptional opportunity to acquire a medical office within a well-maintained co-op building in the heart of Great Neck Plaza, New York. The property is ideally located a short walk from the Great Neck Long Island Rail Road (LIRR) station, offering outstanding accessibility and visibility. The office has been owner-occupied for more than 40 years, reflecting long-term stability and a proven professional presence at this location. This is the first time the property has been offered for sale. The office benefits from a dedicated, private entrance, separately designated by the building specifically for this unit, providing enhanced privacy and convenience for both practitioners and patients. The unit is well-suited for a physician's practice or other professional or commercial use, subject to co-op board approval. Transfer of ownership requires standard co-op board review and approval. This property is ideal for practitioners looking to establish or expand their practice in a highly desirable Great Neck market with excellent transit access for both patients and staff.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical offices

    Similar Places Nearby

    Long Island Bird & Exotics Veterinary Clinic, Great Neck Animal Hospital, NORVET

    Map

    City
    Great Neck Plaza
    County
    Nassau
    State
    New York
    Longitude
    -73.7291
    Latitude
    40.786

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    FAQs

    What type of property is this?
    Medical office - Prime medical office space in Great Neck Plaza for sale.
    Where is this medical office located?
    The property is located at 40 Stone Ave, Unit O1 Great Neck Plaza, NY.
    What is the asking price?
    The asking price for this property is $499,000.
    What are key features of this property?
    This property features: - Prime Great Neck location, short walk to LIRR station, offering outstanding accessibility and visibility.; - Rare opportunity: first time offered for sale after 40+ years of owner occupancy, indicating stability.; - Dedicated, private entrance providing enhanced privacy and convenience.
    (347) 320-4291
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    40 Stone Ave, Unit O1 Great Neck Plaza, NY 11021
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    We can help!
    Listing Contact
    Weidong Shen
    (347) 320-4291
    Learn more
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