Storefront Office Retail
57a Cutter Mill Great Neck, NY 11021
57a Cutter Mill, Great Neck, NY, 11021
$488,888
For Sale
$488,888
Approximate 800 sq ft storefront and office unit with taxes and heat included in maintenance.
Property Size800 SF
Price / SF$611.11
Days on Market88
Property Features for 57a Cutter Mill
General Information
- Standard status
- Active
- Size
- 800 SF
- Property subtype
- Commercial
Listing agency
Charles Rutenberg Realty Inc
(516) 575-7500
Listed by
Mehran M. Shahravan
Source
Cohenandcohenrealty
Added: Apr 26 Updated: Jul 21 at 10:14PM Checked: Jul 21 at 10:14PM
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 Charles Rutenberg Realty Inc
Investment Insights
Based on property information with market context.
This cooperative unit offers an approximately 800 sq ft storefront layout suitable for either retail or office use. The unit is positioned for visibility and convenience, and maintenance is structured to include taxes and heat.
Located in the heart of Great Neck along a busy main road, the property is also described as a short walk to the LIRR.
For buyers looking to own rather than rent, this combination of storefront/office flexibility and maintenance coverage is the central value proposition as presented in the remarks.
Located in the heart of Great Neck along a busy main road, the property is also described as a short walk to the LIRR.
For buyers looking to own rather than rent, this combination of storefront/office flexibility and maintenance coverage is the central value proposition as presented in the remarks.
Key Highlights
- Approx. 800 sq ft storefront and office unit
- Cooperative unit on a busy main road in the heart of Great Neck
- Short walk to the LIRR
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 | $24.0k | $30.00 |
| − Vacancy | −$1.4k | −$1.71 |
| EGI | $22.6k | $28.29 |
| − OpEx | −$6.8k | −$8.49 |
| NOI | $15.8k | $19.80 |
800 SF · lease $30.00/SF/yr · vacancy 5.70% · expense 30.00%
Alternative Uses
Best Use
Retail
$226.3K
$198.0K – $264.0K
NOI $15,842 @ 7.0% cap · market cap 3.24%
Second Best
Office B
$196.5K
$172.0K – $229.3K
NOI $13,756 @ 7.0% cap · market cap 2.81%
Theoretical Best
Specialty Retail
$528.9K
$462.8K – $617.1K
NOI $37,026 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Aerus Electrolux
Big Box & Wholesale Store
Similar For Sale Nearby
Similar Off Market Nearby
- Great neck florist — 352 Great Neck Rd, Great Neck, NY 11021
- Love U Flowers — 164 Northern Blvd, Great Neck, NY 11020
- Royal Floral Designs — 37 S Middle Neck Rd, Great Neck, NY 11021
- Flower City Florist — 27 S Middle Neck Rd, Great Neck Plaza, NY 11021
- A & B Floral — 1 Bond St, Great Neck, NY 11021
FAQs
What type of property is this?
Storefront property - Approximate 800 sq ft storefront and office unit with taxes and heat included in maintenance.
Where is this storefront property located?
The property is located at 57a Cutter Mill Great Neck, NY.
What is the asking price?
The asking price for this property is $488,888.
What are key features of this property?
This property features: Approx. 800 sq ft storefront and office unit; Cooperative unit on a busy main road in the heart of Great Neck; Short walk to the LIRR
