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    7 Northern Boulevard Great Neck, NY 11021

    View on Map
    For Lease
    $42 SF/Yr

    COMMERCIAL - Great Neck, NY

    Added:
    Oct 15, 2025
    Days on Market:
    169
    Last Refresh:
    Apr 1 at 1:06 am

    Property Features for 7 Northern Boulevard

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Rooms
    Basement
    Standard status
    Active

    Taxes and HOA fees

    TaxYear
    2025

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Electric (Heating)
    Cooling system
    Electric
    Water source
    Public

    Building Details

    Building materials
    Brick

    We can help!

    Listing Contact
    Meiyu Li
    Meiyu Li

    Listing agent Meiyu Li

    Listing office E Realty International Corp 3907 Prince St Ste 4D, Flushing, NY

    Listing date Oct 15, 2025

    MLS# 924960

    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.

    Overview

    Retail Storefront on Northern Blvd

    This retail storefront is located on Northern Blvd in Great Neck, NY. The property benefits from exceptional exposure and visibility within a high-traffic corridor. The surrounding area includes a mix of national and local retailers such as Starbucks, H-Mart, Chase Bank, AT&T, a gas station, and a pharmacy. Transportation options are readily available, with convenient access to the Long Island Rail Road (LIRR) and multiple bus lines, including the N20G and Q12 to Flushing, the Q36 to Jamaica, and the QM3 to Manhattan. The property features approximately 4,000 square feet of space on the first floor, complemented by tall glass storefront windows. An additional 4,000 square feet of basement space is available for storage or other uses. Shared parking is available in the rear of the building.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Lavender Spa Alternative Medicine Practice CUCKOO RENTAL (쿠쿠 ... General Contractor 쿠쿠생활가전 CUCKOO Great ... General Contractor CUCKOO Great Neck General Contractor

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Great neck florist — 352 Great Neck Rd, Great Neck, NY 11021
    • Love U Flowers — 164 Northern Blvd, Great Neck, NY 11020

    Location Insight

    • Map
    • Local Demand
    City
    Great Neck
    County
    Nassau
    State
    New York
    Longitude
    -73.733624
    Latitude
    40.772834

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    FAQs

    What type of property is this?
    Storefront property - Prime retail space with high visibility and convenient transportation access.
    Where is this storefront property located?
    The property is located at 7 Northern Boulevard Great Neck, NY.
    What is the lease rate?
    The lease rate is $42 SF/Yr.
    What are key features of this property?
    This property features: Prime location on Northern Blvd with exceptional exposure and high foot traffic.; Spacious 4,000 SF 1st floor with **tall glass storefront windows**.; Additional 4,000 SF basement for storage or other uses.
    (718) 666-5751
    We can help!
    Listing Contact
    Meiyu Li
    Meiyu Li
    Learn More
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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
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