Retail Storefront with Transit
New
For Sale
$600,000
46 School St, Glen Cove, NY 11542
Storefront property near restaurants, shops, offices, entertainment, municipal parking, and public transportation.
Property Size1,500 SF
Lot Size0.04 Acres
Days on Market2
Property Features for 46 School St
General Information
Standard status
Active
Size
1,500 SF
Lot size
0.04 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$15,600
Building Details
Building Size
1,500 SF
Year Built
1967
Listing Agency:
Jamie Realty Group
(917) 622-3998
Listed By:
Yu Lan Chen · License #10491212408
(917) 622-3998
Source:
Elliman
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 20 at 11:13AM
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 Jamie Realty Group
Investment Insights
Based on property information with market context.
This retail storefront property was built in 1967 and occupies a 20X80 lot. The commercial setting may support retail, food service, café, deli, professional office, specialty shop, or other permitted commercial uses, subject to verification of zoning and permitted uses with the City of Glen Cove.
The property is situated in Downtown Glen Cove among restaurants, shops, offices, entertainment venues, and the AMC theater. Municipal parking and public transportation are available nearby, with bus service and the Glen Cove Loop Bus serving the area. Downtown Glen Cove is approximately 0.4 miles from the LIRR, while the property records a walk score of 82, a transit score of 26, and a bike score of 31.
The property is situated in Downtown Glen Cove among restaurants, shops, offices, entertainment venues, and the AMC theater. Municipal parking and public transportation are available nearby, with bus service and the Glen Cove Loop Bus serving the area. Downtown Glen Cove is approximately 0.4 miles from the LIRR, while the property records a walk score of 82, a transit score of 26, and a bike score of 31.
Key Highlights
- 20X80 lot in Downtown Glen Cove
- Built in 1967
- Near restaurants, shops, offices, entertainment, and the AMC theater
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
$29,704
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
4.95%
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%
$594,080
$594.1K
Cap Rate 7%
$424,343
$424.3K
Cap Rate 9%
$330,044
$330.0K
Market Conditions
NOI Build-Up for 1,500 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
$45.0K $30.00/SF
− Vacancy
−$2.6K −$1.71/SF
EGI
$42.4K $28.29/SF
− OpEx
−$12.7K −$8.49/SF
NOI
$29.7K $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%
$594,080
Cap Rate 7%
$424,343
Cap Rate 9%
$330,044
Alternative Uses
Best Use
Retail
$424.3K
$371.3K – $495.1K
NOI $29,704 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$991.8K
$867.8K – $1.16M
NOI $69,424 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,895
Businesses Nearby
98k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 40%
Office Supplies 20%
Dining 20%
Leisure 19%
Staples
Office Supplies
19,565 visits/mo
0.0 miles
AMC Glen Cove 6
Leisure
18,623 visits/mo
0.0 miles
Mobil
Shops & Services
12,334 visits/mo
0.3 miles
Sunoco
Shops & Services
11,190 visits/mo
0.3 miles
Panera Bread
Dining
11,143 visits/mo
0.2 miles
Demographics for 11542, NY
29,171
Population
11,374
Households
2.6
Avg Household Size
43
Median Age
41%
College-Educated
86%
High-School Grad
6.7 sq mi
ZIP Area
4,354
Density / Sq Mi
$92,284
Median Household Income
$52,855
Median Earnings
$2,350
Median Rent
$659,300
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?
Storefront property - Storefront property near restaurants, shops, offices, entertainment, municipal parking, and public transportation.
Where is this storefront property located?
The property is located at 46 School St Glen Cove, NY.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 20X80 lot in Downtown Glen Cove; Built in 1967; Near restaurants, shops, offices, entertainment, and the AMC theater
