Two 3-Story Contiguous Office
445 Northern Boulevard Great Neck, NY 11021
New
For Sale
$15,900,000
Two contiguous three-story office buildings on a 1.75-acre campus in Great Neck, built in 1966.
Property Size48,000 SF
Lot Size1.75 Acres
Price / SF$331.25
Days on Market5
Property Features for 445 Northern Boulevard
General Information
Standard status
Active
Size
48,000 SF
Net Rentable
48,000 SF
Lot size
1.75 Acres
Property subtype
Commercial
Building Details
Year Built
1966
Listing Agency:
SANY REALTY GROUP LLC
(718) 799-0726
Listed By:
XIAN LIN · License #1011513
Source:
Corcoran
Added: Jul 26
Changed: Jul 29
Last Checked: Jul 29 at 12:41PM
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 SANY REALTY GROUP LLC
Investment Insights
Based on property information with market context.
445 475 Northern Blvd offers a two-building, contiguous office portfolio positioned on Great Neck’s Northern Boulevard commercial corridor. The property consists of two 3-story office buildings totaling approximately 48,000 RSF across 1.75+ acres, providing a campus-style configuration for office users or investors seeking a larger, consolidated footprint.
Located on the border of Queens and Nassau County, the buildings benefit from prominent visibility along Northern Blvd and are described as having high daily traffic exposure. Commuting access is supported by nearby major thoroughfares, including the Long Island Expressway (I-495), Grand Central Parkway, and Cross Island Parkway, with the campus located less than one mile from these routes. The property is also minutes from both the Great Neck and Little Neck LIRR stations, which are described as offering a direct ~25-minute train ride into Penn Station and Grand Central. An MTA bus stop is listed as being located right at the doorstep.
The portfolio was built in 1966 and is presented as a commercial office opportunity at 445 475 Northern Boulevard (Great Neck, NY 11021).
Located on the border of Queens and Nassau County, the buildings benefit from prominent visibility along Northern Blvd and are described as having high daily traffic exposure. Commuting access is supported by nearby major thoroughfares, including the Long Island Expressway (I-495), Grand Central Parkway, and Cross Island Parkway, with the campus located less than one mile from these routes. The property is also minutes from both the Great Neck and Little Neck LIRR stations, which are described as offering a direct ~25-minute train ride into Penn Station and Grand Central. An MTA bus stop is listed as being located right at the doorstep.
The portfolio was built in 1966 and is presented as a commercial office opportunity at 445 475 Northern Boulevard (Great Neck, NY 11021).
Key Highlights
- Two contiguous 3‑story office buildings totaling approximately 48,000 RSF
- 1.75+ acre campus at 445 475 Northern Boulevard, Great Neck
- Positioned on the Queens and Nassau County border with visibility along Northern Blvd
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.34M | $27.96 |
| − Vacancy | −$241.6k | −$5.03 |
| EGI | $1.10M | $22.93 |
| − OpEx | −$275.1k | −$5.73 |
| NOI | $825.4k | $17.20 |
48,000 SF · lease $27.96/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$11.79M
$10.32M – $13.76M
NOI $825,379 @ 7.0% cap · market cap 5.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$31.74M
$27.77M – $37.03M
NOI $2,221,560 @ 7.0% cap · market cap 13.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Two contiguous three-story office buildings on a 1.75-acre campus in Great Neck, built in 1966.
Where is this office building located?
The property is located at 445 Northern Boulevard Great Neck, NY.
What is the asking price?
The asking price for this property is $15,900,000.
What are key features of this property?
This property features: Two contiguous 3‑story office buildings totaling approximately 48,000 RSF; 1.75+ acre campus at 445 475 Northern Boulevard, Great Neck; Positioned on the Queens and Nassau County border with visibility along Northern Blvd
