Two-Story Industrial Flex
1 Alexander Place Glen Cove, NY 11542
1 Alexander Place, Glen Cove, NY, 11542
Contact for pricing
For Sale
Contact for pricing
Two-story building on 1.98 acres with 17-foot first-floor and 15-foot second-floor clear ceiling heights.
Property Size34,000 SF
Lot Size1.98 Acres
Price / SF$250
Days on Market22
Property Features for 1 Alexander Place
General Information
- Standard status
- Active
- Size
- 34,000 SF
- Lot size
- 1.98 Acres
- Property subtype
- Mixed Use, Industrial
Building Details
- Year Built
- 1960
Listing agency
BERKSHIRE HATHAWAY
(516) 734-1299
Listed by
Shri Singh · License #10301221745
Source
Crexi
Added: Jun 30 Updated: Jul 21 at 5:51AM Checked: Jul 21 at 5:51AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BERKSHIRE HATHAWAY
Investment Insights
Based on property information with market context.
This for-sale industrial flex property features a 34,000-square-foot, two-story building originally built in 1960 and renovated in 1980 and 2023. The first floor offers 17-foot ceiling height, and the second floor provides 15-foot clear ceiling height, supporting a variety of light industrial or operational needs. The property sits on 1.98 acres and includes additional lots 204 and 1023.
Located on Cedar Swamp Road in Glen Cove, the site is positioned along a commercial corridor and offers convenient access to major roadways and surrounding North Shore communities. It is also described as being close to downtown Glen Cove shopping, dining, and transportation.
Overall, the asset combines substantial building size, higher ceiling clear heights, and recent renovations, with the added land flexibility provided by the additional lots.
Located on Cedar Swamp Road in Glen Cove, the site is positioned along a commercial corridor and offers convenient access to major roadways and surrounding North Shore communities. It is also described as being close to downtown Glen Cove shopping, dining, and transportation.
Overall, the asset combines substantial building size, higher ceiling clear heights, and recent renovations, with the added land flexibility provided by the additional lots.
Key Highlights
- Two‑story 34,000 SF commercial building originally built in 1960 on 1.98 acres (Cedar Swamp Road, Glen Cove)
- Extensively renovated in 1980 and 2023
- 17 ft first‑floor ceiling height and 15 ft second‑floor clear ceiling height
Local Financial Insights For Industrial
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 | $746.6k | $21.96 |
| − Vacancy | −$51.5k | −$1.52 |
| EGI | $695.1k | $20.44 |
| − OpEx | −$208.5k | −$6.13 |
| NOI | $486.6k | $14.31 |
34,000 SF · lease $21.96/SF/yr · vacancy 6.90% · expense 30.00%
Alternative Uses
Best Use
Industrial
$6.95M
$6.08M – $8.11M
NOI $486,585 @ 7.0% cap · market cap 5.72%
Second Best
Flex RnD
$6.45M
$5.65M – $7.53M
NOI $451,829 @ 7.0% cap · market cap 5.32%
Theoretical Best
Specialty Retail
$22.48M
$19.67M – $26.23M
NOI $1,573,605 @ 7.0% cap · market cap 18.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Two-story building on 1.98 acres with 17-foot first-floor and 15-foot second-floor clear ceiling heights.
Where is this flex space located?
The property is located at 1 Alexander Place Glen Cove, NY.
What is the asking price?
The asking price for this property is $8,500,000.
What are key features of this property?
This property features: Two‑story 34,000 SF commercial building originally built in 1960 on 1.98 acres (Cedar Swamp Road, Glen Cove); Extensively renovated in 1980 and 2023; 17 ft first‑floor ceiling height and 15 ft second‑floor clear ceiling height
