Single-Story Retail
For Sale
Contact for pricing
12 Northern Blvd, Great Neck, NY 11021
Retail property with on-site parking along Northern Boulevard.
Property Size2,500 SF
Price / SF$520
Days on Market144
Property Features for 12 Northern Blvd
General Information
Standard status
Active
Size
2,500 SF
Total Parking Spaces
3
Property subtype
Office, Retail
Zoning
BUSINESS A DISTRICT (B-A)
Investment Type
Owner/User
Building Details
Year Built
1948
Year Renovated
2026
Buildings
1
Stories
1
Units
3
Listing Agency:
Bridge Advisory Group
(516) 647-7155
Listed By:
Eric Delafraz · License #10401334366
Source:
Crexi
Added: Apr 11
Changed: Aug 29
Last Checked: Aug 31 at 2:31PM
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 Bridge Advisory Group
Investment Insights
Based on property information with market context.
This single-story retail building fronts Northern Boulevard and includes parking on the property. The storefront configuration provides a straightforward setting for retail occupancy in Great Neck, New York.
Key Highlights
- Single‑story retail building
- On‑site parking
- Frontage along Northern Boulevard
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
$49,508
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
3.81%
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%
$990,160
$990.2K
Cap Rate 7%
$707,257
$707.3K
Cap Rate 9%
$550,089
$550.1K
Market Conditions
NOI Build-Up for 2,500 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
$75.0K $30.00/SF
− Vacancy
−$4.3K −$1.71/SF
EGI
$70.7K $28.29/SF
− OpEx
−$21.2K −$8.49/SF
NOI
$49.5K $19.80/SF
Area
Nassau County, NY
Vacancy
5.70%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
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%
$990,160
Cap Rate 7%
$707,257
Cap Rate 9%
$550,089
Alternative Uses
Best Use
Retail
$707.3K
$618.9K – $825.1K
NOI $49,508 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.65M
$1.45M – $1.93M
NOI $115,706 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,130
Businesses Nearby
83k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 50%
Groceries 36%
Dining 9%
Electronics 5%
H Mart
Groceries
29,964 visits/mo
0.2 miles
Chase Bank
Shops & Services
10,205 visits/mo
0.2 miles
The UPS Store
Shops & Services
9,534 visits/mo
0.5 miles
BP
Shops & Services
8,458 visits/mo
0.0 miles
Shell
Shops & Services
7,785 visits/mo
0.4 miles
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Retail property with on-site parking along Northern Boulevard.
Where is this storefront property located?
The property is located at 12 Northern Blvd Great Neck, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Single‑story retail building; On‑site parking; Frontage along Northern Boulevard
