Two-Story Office/Retail
56 School Street Glen Cove, NY 11542
56 School Street, Glen Cove, NY, 11542
Contact for pricing
For Sale
Contact for pricing
Two-story building offers a ground-floor office layout and a second-floor open suite with ADA-compliant restroom and central HVAC.
Property Size2,070 SF
Price / SF$385.99
Days on Market96
Property Features for 56 School Street
General Information
- Standard status
- Active
- Size
- 2,070 SF
- Property subtype
- Office, Retail
Building Details
- Year Built
- 1928
Listing agency
NY SPACE FINDERS INC,
(516) 801-6181
Listed by
Nicholas Evangelista · License #10401378306
Source
Crexi
Added: Apr 17 Updated: Jul 20 at 11:49PM Checked: Jul 20 at 11:49PM
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 NY SPACE FINDERS INC,
Investment Insights
Based on property information with market context.
56 School Street is a two-story office/retail building with a versatile interior layout and industrial loft-style finishes. The ground floor includes three private offices, while the second floor is configured as a spacious open suite. The property was fully gut renovated in 2016 and features exposed brick, oversized windows, and two zones of central HVAC. An ADA-compliant restroom supports flexible professional use.
The building is located on Glen Cove’s commercial corridor near the Glen Cove LIRR Station and directly across from major national retailers, providing convenient access and high day-to-day visibility.
For on-site parking, the property includes four designated spaces located at the rear.
The building is located on Glen Cove’s commercial corridor near the Glen Cove LIRR Station and directly across from major national retailers, providing convenient access and high day-to-day visibility.
For on-site parking, the property includes four designated spaces located at the rear.
Key Highlights
- 2,070 SF two‑story office/retail building built in 1928 with a ground‑floor office layout and second‑floor open suite.
- Fully gut renovated in 2016 with industrial loft‑style finishes including exposed brick and oversized windows.
- Layout includes three private offices on the ground floor plus a spacious open suite on the second floor for flexible use.
Local Financial Insights For Retail
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 | $62.1k | $30.00 |
| − Vacancy | −$3.5k | −$1.71 |
| EGI | $58.6k | $28.29 |
| − OpEx | −$17.6k | −$8.49 |
| NOI | $41.0k | $19.80 |
2,070 SF · lease $30.00/SF/yr · vacancy 5.70% · expense 30.00%
Alternative Uses
Best Use
Retail
$585.6K
$512.4K – $683.2K
NOI $40,992 @ 7.0% cap · market cap 5.13%
Second Best
Office B
$508.5K
$444.9K – $593.2K
NOI $35,594 @ 7.0% cap · market cap 4.45%
Theoretical Best
Specialty Retail
$1.37M
$1.20M – $1.60M
NOI $95,805 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Stein Abraham DDS
Dental Office
Rui An Acupuncture & Chiropractic, ...
Medical Clinic
Bathroom & Kitchen Remodel ...
Renovation Specialist
Glen Cove Massage
Alternative Medicine Practice
Elite Dental Admin ...
Medical Billing Service
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Two-story building offers a ground-floor office layout and a second-floor open suite with ADA-compliant restroom and central HVAC.
Where is this office building located?
The property is located at 56 School Street Glen Cove, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 2,070 SF two‑story office/retail building built in 1928 with a ground‑floor office layout and second‑floor open suite.; Fully gut renovated in 2016 with industrial loft‑style finishes including exposed brick and oversized windows.; Layout includes three private offices on the ground floor plus a spacious open suite on the second floor for flexible use.
