Ground-Floor Office Condo
For Sale
$890,000
1 BARSTOW RD, Great Neck, NY 11021
Office condominium with multiple private rooms, reception space, kitchen, bathroom, central air, and parking.
Property Size2,035 SF
Price / SF$437.35
Days on Market9
Property Features for 1 BARSTOW RD
General Information
Standard status
Active
Size
2,035 SF
Property subtype
Office
Additional Details
Floor
Ground Floor
Office Units
6
Taxes and HOA fees
Annual Taxes
$8,508
Amenities
kitchen
bathroom
Central Air
3
Parking.
Other Parking.
Building Details
Year Built
1985
Listing Agency:
Winzone Realty Inc
(718) 899-7000
Listed By:
Xiao Feng Pan · License #31PA0929296
(917) 678-8888
Source:
Xome
Added: Aug 29
Changed: Sep 5
Last Checked: Sep 6 at 4:25AM
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 Winzone Realty Inc
Investment Insights
Based on property information with market context.
This ground-floor office condominium suite contains 2,035 square feet with six office suites arranged around a large reception area. The layout also includes a kitchen and one bathroom, while central air supports the interior environment. Parking is available with the property. Built in 1985, the suite offers a defined office configuration within a condominium setting.
Key Highlights
- 2,035‑square‑foot ground‑floor office condo suite
- Six office suites and a large reception area
- Kitchen and one bathroom included
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
$34,993
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
3.93%
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%
$699,860
$699.9K
Cap Rate 7%
$499,900
$499.9K
Cap Rate 9%
$388,811
$388.8K
Market Conditions
NOI Build-Up for 2,035 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
$56.9K $27.96/SF
− Vacancy
−$10.2K −$5.03/SF
EGI
$46.7K $22.93/SF
− OpEx
−$11.7K −$5.73/SF
NOI
$35.0K $17.20/SF
Area
Nassau County, NY
Vacancy
18.00%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
25.00%
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%
$699,860
Cap Rate 7%
$499,900
Cap Rate 9%
$388,811
Alternative Uses
Best Use
Office B
$499.9K
$437.4K – $583.2K
NOI $34,993 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.35M
$1.18M – $1.57M
NOI $94,185 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Office units
Location Intelligence
Trade Area within ½ mile
4,148
Businesses Nearby
Explore this area
Business Placement
Demographics for 11021, NY
19,376
Population
8,705
Households
2.2
Avg Household Size
46
Median Age
65%
College-Educated
94%
High-School Grad
2.4 sq mi
ZIP Area
8,073
Density / Sq Mi
$122,390
Median Household Income
$74,401
Median Earnings
$2,184
Median Rent
$734,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office condominium with multiple private rooms, reception space, kitchen, bathroom, central air, and parking.
Where is this office units located?
The property is located at 1 BARSTOW RD Great Neck, NY.
What is the asking price?
The asking price for this property is $890,000.
What are key features of this property?
This property features: 2,035‑square‑foot ground‑floor office condo suite; Six office suites and a large reception area; Kitchen and one bathroom included
