Corner Commercial Property in Garden
621 Chestnut Street Garden City, NY 11530
For Sale
$1,380,000
SINGLE_FAMILY - Garden City, NY
Property Size3,200 SF
Lot Size0.18 Acres
Price / SF$431.25
Days on Market168
Property Features for 621 Chestnut Street
General Information
Property type
Residential
Property subtype
Retail
Parking features
Parking Lot
Standard status
Active
APN
0023411200390
Size
3,200 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
44094
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1956
Floors in Building
1
Number of units
2
Building materials
Stucco
Listing Agency:
E Realty International Corp
(718) 886-8110
Listed By:
Teresa Han
(718) 838-0511
Added: Feb 12
Changed: May 12
Last Checked: Jul 30 at 8:06AM
MLS# 961029
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 corner commercial property in Garden City, NY, offers approximately 3,200 square feet of space on an 8,056 square foot lot. The property benefits from excellent visibility, situated directly across from the DMV, Labor Department, and a major bus terminal. It features two storefronts. The first unit is currently leased to a deli at $6,365 per month, with the lease extending through December 2028 and including a 3% annual increase. The second unit is vacant and suitable for various uses, including office space, retail, a restaurant, a pharmacy, a liquor store, or a laundromat. Tenants are responsible for covering all utility costs. This property is ideal for investors or owner-users.
Key Highlights
- Prime corner location directly across from high‑traffic DMV, Labor Department, and bus terminal.
- Two storefronts: one leased to a deli at $6,365/month through Dec 2028 with annual 3% rent increases.
- Vacant 2nd unit suitable for various businesses. Consider office, retail, restaurant, pharmacy, liquor store, or laundromat.
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $96.0k | $30.00 |
| − Vacancy | −$5.5k | −$1.71 |
| EGI | $90.5k | $28.29 |
| − OpEx | −$27.2k | −$8.49 |
| NOI | $63.4k | $19.80 |
3,200 SF · lease $30.00/SF/yr · vacancy 5.70% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$2.12M
$1.85M – $2.47M
NOI $148,104 @ 7.0% cap · market cap 10.73%
Second Best
Retail
$905.3K
$792.1K – $1.06M
NOI $63,370 @ 7.0% cap · market cap 4.59%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail property - Prime location with high visibility and ample parking.
Where is this retail property located?
The property is located at 621 Chestnut Street Garden City, NY.
What is the asking price?
The asking price for this property is $1,380,000.
What are key features of this property?
This property features: Prime corner location directly across from high‑traffic DMV, Labor Department, and bus terminal.; Two storefronts: one leased to a deli at $6,365/month through Dec 2028 with annual 3% rent increases.; Vacant 2nd unit suitable for various businesses. Consider office, retail, restaurant, pharmacy, liquor store, or laundromat.
