Office
81 WATERMILL LN, Great Neck, NY 11021
For Sale
Contact for pricing
The space is suited to a dedicated office use.
Property Size2,304 SF
Price / SF$355.47
Days on Market14
Property Features for 81 WATERMILL LN
General Information
Standard status
Size
Property subtype
Additional Details
Property Use
Listing Agency:
Windsor Commercial Real Estate
Listed By:
Robert Reinhardt · License NY #10301209041
(516) 902-8839
Source:
Crexi
Added: Oct 28
Changed: Nov 8
Last Checked: Nov 8 at 4:51PM
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 Windsor Commercial Real Estate
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Investment Insights
Based on property information with market context.
The office offering contains 2,304 square feet. It is located at 81 Watermill Lane in Great Neck, New York.
Key Highlights
- 2,304 square feet of office space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,618
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$792,360
$792.4K
Cap Rate 7%
$565,971
$566.0K
Cap Rate 9%
$440,200
$440.2K
Market Conditions
NOI Build-Up for 2,304 SF
Gross rent
$64.4K $27.96/SF
− Vacancy
−$11.6K −$5.03/SF
EGI
$52.8K $22.93/SF
− OpEx
−$13.2K −$5.73/SF
NOI
$39.6K $17.20/SF
Area
Nassau County, NY
Vacancy
18.00%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$792,360
Cap Rate 7%
$565,971
Cap Rate 9%
$440,200
Alternative Uses
Best Use
Office B
$566.0K
$495.2K – $660.3K
NOI $39,618 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.52M
$1.33M – $1.78M
NOI $106,635 @ 7.0% cap · market cap 13.02%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,271
Businesses Nearby
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
$734,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office Units in Nassau County, NY
Properties on Market for Office Units in Nassau County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - The space is suited to a dedicated office use.
Where is this office unit located?
The property is located at 81 WATERMILL LN Great Neck, NY.
What is the asking price?
The asking price for this property is $819,000.
What are key features of this property?
This property features: 2,304 square feet of office space
