Wine & Liquor
For Sale
$1,050,000
1-fl-21 Shoreward Dr, Great Neck, NY 11021
Established wine and liquor retail business with dedicated parking and additional basement storage for inventory.
Property Size4,000 SF
Lot Size0.35 Acres
Price / SF$262.50
Days on Market608
Property Features for 1-fl-21 Shoreward Dr
General Information
Standard status
Active
Size
4,000 SF
Total Parking Spaces
15
Lot size
0.35 Acres
Property subtype
Business Opportunity
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$50,376
Listing Agency:
Apple Realty Group Corp
(718) 888-2965
Listed By:
Raymond C. Wong · License #998297
(718) 414-9328
Source:
Exprealty
Added: Jan 13, 2025
Changed: Sep 5
Last Checked: Sep 12 at 10:22AM
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 Apple Realty Group Corp
Investment Insights
Based on property information with market context.
Offered for sale is a well-established wine and spirits retail business operating from a dedicated retail showroom. The property includes a 4,000 SF retail area with an interior designed for wine and liquor merchandising, along with an additional 1,500 SF basement level for storage and inventory. The detached site is 15,159 SF and provides 15+ dedicated parking spaces for customer convenience.
The store is located at 1-fl-21 Shoreward Dr, Great Neck, NY 11021. The business is described as being in a high-income North Shore community with visibility and steady customer traffic.
The business generated over $2.31 million in gross sales last year, reflecting an established operating history. Inventory is valued at approximately $600,000 or more and is described as in addition to the asking price.
The store is located at 1-fl-21 Shoreward Dr, Great Neck, NY 11021. The business is described as being in a high-income North Shore community with visibility and steady customer traffic.
The business generated over $2.31 million in gross sales last year, reflecting an established operating history. Inventory is valued at approximately $600,000 or more and is described as in addition to the asking price.
Key Highlights
- 4,000 SF wine & liquor retail showroom at 21 E Shore Road, Manhasset, NY
- 1,500 SF basement provides additional storage and inventory space
- 15,159 SF detached property with 15+ dedicated parking spaces
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
$79,212
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
7.54%
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%
$1,584,240
$1.6M
Cap Rate 7%
$1,131,600
$1.1M
Cap Rate 9%
$880,133
$880.1K
Market Conditions
NOI Build-Up for 4,000 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
$120.0K $30.00/SF
− Vacancy
−$6.8K −$1.71/SF
EGI
$113.2K $28.29/SF
− OpEx
−$33.9K −$8.49/SF
NOI
$79.2K $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%
$1,584,240
Cap Rate 7%
$1,131,600
Cap Rate 9%
$880,133
Alternative Uses
Best Use
Retail
$1.13M
$990.2K – $1.32M
NOI $79,212 @ 7.0% cap · market cap 7.54%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.64M
$2.31M – $3.09M
NOI $185,130 @ 7.0% cap · market cap 17.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,848
Businesses Nearby
80k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 66%
Dining 31%
Electronics 3%
Chipotle Mexican Grill
Dining
11,895 visits/mo
0.5 miles
Bank of America
Shops & Services
10,392 visits/mo
0.4 miles
Webster Bank
Shops & Services
10,248 visits/mo
0.4 miles
Chase Bank
Shops & Services
9,916 visits/mo
0.4 miles
Starbucks
Dining
8,115 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?
Retail space - Established wine and liquor retail business with dedicated parking and additional basement storage for inventory.
Where is this retail space located?
The property is located at 1-fl-21 Shoreward Dr Great Neck, NY.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 4,000 SF wine & liquor retail showroom at 21 E Shore Road, Manhasset, NY; 1,500 SF basement provides additional storage and inventory space; 15,159 SF detached property with 15+ dedicated parking spaces
