Two-Story Office Portfolio
445 Northern Boulevard Great Neck, NY 11021
New
For Sale
$15,900,000
SINGLE_FAMILY - Great Neck, NY
Property Size48,000 SF
Lot Size0.58 Acres
Price / SF$331.25
Days on Market6
Property Features for 445 Northern Boulevard
General Information
Property type
Residential
Property subtype
Office
Rooms
Basement
Basement
Full, Finished
Standard status
Active
APN
2247-02-242-00-0213-0
Lot size
0.58 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
150286
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1966
Building materials
Brick
Listing Agency:
Sany Realty Group LLC
(718) 799-0726
Listed By:
Xian Lin · License #1011513
(646) 591-3308
Added: Jul 24
Changed: Jul 27
Last Checked: Jul 29 at 7:06AM
MLS# 1030240
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property consists of two contiguous three-story office buildings at 445 and 475 Northern Boulevard, offering a multi-building office portfolio configuration totaling approximately 48,000 RSF. The campus is situated on 1.75+ acres and provides an office-focused layout suited for tenants and owner-users seeking space within a consolidated site.
Located in Great Neck, the property is positioned near major regional thoroughfares, including I-495 and the Grand Central and Cross Island Parkways. The description also notes that the campus is minutes from the Great Neck and Little Neck LIRR stations and that there is an MTA bus stop at the doorstep.
As a contiguous, multi-building office offering, this setup can be considered for strategies requiring more than one building within the same site, while keeping operations under one campus footprint.
Located in Great Neck, the property is positioned near major regional thoroughfares, including I-495 and the Grand Central and Cross Island Parkways. The description also notes that the campus is minutes from the Great Neck and Little Neck LIRR stations and that there is an MTA bus stop at the doorstep.
As a contiguous, multi-building office offering, this setup can be considered for strategies requiring more than one building within the same site, while keeping operations under one campus footprint.
Key Highlights
- Two contiguous 3‑story office buildings at 445 & 475 Northern Blvd, totaling approximately 48,000 RSF
- Set on 1.75+ acres on Great Neck’s Northern Blvd commercial corridor
- Brick construction with central air
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
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Two contiguous three-story office buildings totaling approximately 48,000 RSF on a single Great Neck campus site.
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 at 445 & 475 Northern Blvd, totaling approximately 48,000 RSF; Set on 1.75+ acres on Great Neck’s Northern Blvd commercial corridor; Brick construction with central air
