Medical or Professional Office
For Sale
$699,000
204-233 E Shore Rd, Great Neck, NY 11023
Vacant office condo includes four separate offices, a reception area, storage, and two half baths.
Property Size35,400 SF
Price / SF$582.50
Days on Market109
Property Features for 204-233 E Shore Rd
General Information
Standard status
Active
Size
35,400 SF
Total Parking Spaces
2
Additional Details
HOA Fee
$1,000
Taxes and HOA fees
Annual Taxes
$12,551
Building Details
Building Size
35,400 SF
Listing Agency:
Prime Homes Realty
Listed By:
Elyahou Nataneli
(516) 991-7300
Source:
Exprealty
Added: Jul 13
Changed: Oct 26
Last Checked: Oct 28 at 1:23PM
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 Prime Homes Realty
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Investment Insights
Based on property information with market context.
Vacant commercial condo unit offered for sale in a professional office setting. The unit is configured with four separate offices, a reception area, storage area, and two half baths, and it includes office use on an all-office basis.
The property provides two deeded parking spots with two-level parking and a doctor private parking arrangement. The building is described as being near North Shore Hospital, the train station, and a highway.
This offering is a 1,200-square-foot condo unit with 100% office occupancy, presented as a turn-key space for medical or professional use, subject to buyer verification of all information.
The property provides two deeded parking spots with two-level parking and a doctor private parking arrangement. The building is described as being near North Shore Hospital, the train station, and a highway.
This offering is a 1,200-square-foot condo unit with 100% office occupancy, presented as a turn-key space for medical or professional use, subject to buyer verification of all information.
Key Highlights
- Vacant commercial office condo for sale with 1,200 sqft of office space
- Layout includes 4 separate offices plus a reception area and storage area
- Includes 2 half baths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,052
Cap Rate
3.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$421,040
$421.0K
Cap Rate 7%
$300,743
$300.7K
Cap Rate 9%
$233,911
$233.9K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$40.8K $33.96/SF
− Vacancy
−$5.7K −$4.72/SF
EGI
$35.1K $29.24/SF
− OpEx
−$14.0K −$11.70/SF
NOI
$21.1K $17.54/SF
Area
Nassau County, NY
Vacancy
13.90%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$421,040
Cap Rate 7%
$300,743
Cap Rate 9%
$233,911
Alternative Uses
Best Use
Healthcare Medical
$300.7K
$263.2K – $350.9K
NOI $21,052 @ 7.0% cap · market cap 3.01%
Second Best
Office B
$294.8K
$257.9K – $343.9K
NOI $20,634 @ 7.0% cap · market cap 2.95%
Theoretical Best
Specialty Retail
$793.4K
$694.2K – $925.7K
NOI $55,539 @ 7.0% cap · market cap 7.95%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,369
Businesses Nearby
Explore this area
Business Placement
Demographics for 11023, NY
10,213
Population
3,398
Households
3
Avg Household Size
39
Median Age
68%
College-Educated
93%
High-School Grad
1.7 sq mi
ZIP Area
6,008
Density / Sq Mi
$151,544
Median Household Income
$88,205
Median Earnings
$1,143,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Vacant office condo includes four separate offices, a reception area, storage, and two half baths.
Where is this office unit located?
The property is located at 204-233 E Shore Rd Great Neck, NY.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Vacant commercial office condo for sale with 1,200 sqft of office space; Layout includes 4 separate offices plus a reception area and storage area; Includes 2 half baths
