Turnkey Office Suite with Meeting
For Sale
$198,000
15 Canterbury Road #A3, Great Neck, NY 11021
Office suite configured with a living room-style entry, meeting rooms, and multiple offices for flexible day-to-day operations.
Property Size750 SF
Price / SF$264
Days on Market55
Property Features for 15 Canterbury Road #A3
General Information
Standard status
Active
Size
750 SF
Property subtype
Commercial
Additional Details
Office Units
3
Listing Agency:
WINZONE REALTY INC
(718) 899-7000
Listed By:
WEIRONG JIANG
Source:
Corcoran
Added: Jun 13
Changed: Jul 10
Last Checked: Aug 6 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 WINZONE REALTY INC
Investment Insights
Based on property information with market context.
This for-sale office unit is laid out with one living room-style area, three office rooms, and one bathroom, along with dedicated meeting room space. The interior configuration supports a mix of individual work and collaborative meetings, making it suitable for small professional teams or office-based service users that need both private offices and meeting space.
The property is located at 15 Canterbury Road, Unit A3, Great Neck, NY 11021. Monthly maintenance is listed at $1,369.40 per month, and the unit is described as approximately 750 square feet.
For tenants and buyers looking for a compact, functional office suite, the room mix provides straightforward space planning without requiring major interior reconfiguration based on the existing layout. The presence of multiple office rooms and at least one meeting room can help accommodate different work modes within the same suite. Buyers should review the stated maintenance and the unit’s included configuration as part of their due diligence for office use.
The property is located at 15 Canterbury Road, Unit A3, Great Neck, NY 11021. Monthly maintenance is listed at $1,369.40 per month, and the unit is described as approximately 750 square feet.
For tenants and buyers looking for a compact, functional office suite, the room mix provides straightforward space planning without requiring major interior reconfiguration based on the existing layout. The presence of multiple office rooms and at least one meeting room can help accommodate different work modes within the same suite. Buyers should review the stated maintenance and the unit’s included configuration as part of their due diligence for office use.
Key Highlights
- Office suite layout includes 1 living room‑style entry, 1 meeting room, 3 office rooms, and 1 bathroom
- About 750 SF office suite size
- Monthly maintenance is $1,369.40
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
$12,897
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
6.51%
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%
$257,940
$257.9K
Cap Rate 7%
$184,243
$184.2K
Cap Rate 9%
$143,300
$143.3K
Market Conditions
NOI Build-Up for 750 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
$21.0K $27.96/SF
− Vacancy
−$3.8K −$5.03/SF
EGI
$17.2K $22.93/SF
− OpEx
−$4.3K −$5.73/SF
NOI
$12.9K $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%
$257,940
Cap Rate 7%
$184,243
Cap Rate 9%
$143,300
Alternative Uses
Best Use
Office B
$184.2K
$161.2K – $215.0K
NOI $12,897 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$495.9K
$433.9K – $578.5K
NOI $34,712 @ 7.0% cap · market cap 17.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Location Intelligence
Trade Area within ½ mile
3,765
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 suite configured with a living room-style entry, meeting rooms, and multiple offices for flexible day-to-day operations.
Where is this office units located?
The property is located at 15 Canterbury Road #A3 Great Neck, NY.
What is the asking price?
The asking price for this property is $198,000.
What are key features of this property?
This property features: Office suite layout includes 1 living room‑style entry, 1 meeting room, 3 office rooms, and 1 bathroom; About 750 SF office suite size; Monthly maintenance is $1,369.40
