Storefront Cooperative
For Sale
$488,888
57A Cutter Mill, Great Neck, NY 11021
Commercial Sale, Great Neck, NY
Property Size800 SF
Price / SF$611.11
Days on Market141
Property Features for 57A Cutter Mill
General Information
Property type
Commercial Sale
Property subtype
Office
Standard status
Active
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
12000
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Building materials
Block
Listing Agency:
Charles Rutenberg Realty Inc
Listed By:
Mehran M. Shahravan
(516) 575-7500
Added: Apr 26
Changed: Aug 19
Last Checked: Sep 13 at 6:06PM
MLS# 990845
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.
This cooperative storefront unit contains approximately 800 square feet and is positioned for retail or office use. The property has block construction, central air conditioning, forced-air heating, and electricity available, with public water and public sewer service. Maintenance includes taxes and heat.
The storefront is located at 57A Cutter Mill in Great Neck on a busy main road, with the LIRR within a short walk. Its street-facing commercial setting provides direct exposure for an occupant seeking a retail or office location.
The storefront is located at 57A Cutter Mill in Great Neck on a busy main road, with the LIRR within a short walk. Its street-facing commercial setting provides direct exposure for an occupant seeking a retail or office location.
Key Highlights
- Approximately 800 sq ft storefront
- Cooperative unit suitable for retail or office use
- Located on a busy main road in Great Neck
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
$15,842
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
3.24%
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%
$316,840
$316.8K
Cap Rate 7%
$226,314
$226.3K
Cap Rate 9%
$176,022
$176.0K
Market Conditions
NOI Build-Up for 800 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
$24.0K $30.00/SF
− Vacancy
−$1.4K −$1.71/SF
EGI
$22.6K $28.29/SF
− OpEx
−$6.8K −$8.49/SF
NOI
$15.8K $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%
$316,840
Cap Rate 7%
$226,314
Cap Rate 9%
$176,022
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 authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,578
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11021, NY
19,376
Population
8,705
Households
2.2
Avg Household Size
46
Median Age
65%
College-Educated
94%
High-School Grad
2.4 sq mi
ZIP Area
8,073
Density / Sq Mi
$122,390
Median Household Income
$74,401
Median Earnings
$2,184
Median Rent
$734,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Storefront property - Approximately 800-square-foot cooperative storefront with central air and forced-air heating for retail or office use.
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: Approximately 800 sq ft storefront; Cooperative unit suitable for retail or office use; Located on a busy main road in Great Neck
