Storefront with Rear
68 Covert Avenue, Garden City, NY 11530
For Sale
$649,999
A private rear parking area serves the storefront, which is occupied by a hair salon.
Property Size1,800 SF
Price / SF$361.11
Days on Market41
Property Features for 68 Covert Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Units
Tenancy
Listing Agency:
Daniel Gale Sothebys Intl Rlty
(516) 677-0030
Listed By:
Kari G. Caulfield CBR
(516) 313-9792
Source:
Croninreale
Added: Sep 29
Changed: Nov 7
Last Checked: Nov 7 at 2:12PM
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 Daniel Gale Sothebys Intl Rlty
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Investment Insights
Based on property information with market context.
Built in 1926, the storefront offers 900 square feet of retail area and an additional 900 square feet of basement storage. The space is currently occupied by Jerilyn Hair Stylists. A private parking area is located at the rear of the building.
The property is at 68 Covert Avenue in Garden City. The boiler and hot water heater were replaced in 2023.
The property is at 68 Covert Avenue in Garden City. The boiler and hot water heater were replaced in 2023.
Key Highlights
- 900 SF storefront with 900 SF of basement storage
- Currently occupied by Jerilyn Hair Stylists
- Private rear parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,645
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$712,900
$712.9K
Cap Rate 7%
$509,214
$509.2K
Cap Rate 9%
$396,056
$396.1K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$54.0K $30.00/SF
− Vacancy
−$3.1K −$1.71/SF
EGI
$50.9K $28.29/SF
− OpEx
−$15.3K −$8.49/SF
NOI
$35.6K $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 Rate 5%
$712,900
Cap Rate 7%
$509,214
Cap Rate 9%
$396,056
Alternative Uses
Best Use
Retail
$509.2K
$445.6K – $594.1K
NOI $35,645 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.19M
$1.04M – $1.39M
NOI $83,309 @ 7.0% cap · market cap 12.82%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
624
Businesses Nearby
40k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 61%
Shops & Services 34%
Dining 5%
Key Food
Groceries
24,266 visits/mo
0.2 miles
7-Eleven
Shops & Services
7,419 visits/mo
0.2 miles
Gulf Oil
Shops & Services
6,224 visits/mo
0.3 miles
Carvel Ice Cream
Dining
2,132 visits/mo
0.1 miles
Demographics for 11530, NY
28,851
Population
10,178
Households
2.8
Avg Household Size
42
Median Age
71%
College-Educated
96%
High-School Grad
7.2 sq mi
ZIP Area
4,007
Density / Sq Mi
$202,841
Median Household Income
$95,341
Median Earnings
$3,501
Median Rent
$987,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Storefront properties in Nassau County
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- wild flour studio — 70 Covert Ave, Stewart Manor, NY 11530
Frequently Asked Questions
What type of property is this?
Storefront property - A private rear parking area serves the storefront, which is occupied by a hair salon.
Where is this storefront property located?
The property is located at 68 Covert Avenue Garden City, NY.
What is the asking price?
The asking price for this property is $649,999.
What are key features of this property?
This property features: 900 SF storefront with 900 SF of basement storage; Currently occupied by Jerilyn Hair Stylists; Private rear parking
