Multi-Room Office
For Sale
$198,000
A3-15 Canterbury Rd, Great Neck, NY 11021
Office suite with multiple rooms and one bathroom, supported by listed monthly maintenance.
Property Size750 SF
Price / SF$264
Days on Market96
Property Features for A3-15 Canterbury Rd
General Information
Standard status
Active
Size
750 SF
Additional Details
Office Units
3
Listing Agency:
Winzone Realty Inc
(718) 899-7000
Listed By:
Weirong Jiang
(917) 353-2279
Source:
Exprealty
Added: Jun 10
Changed: Aug 20
Last Checked: Sep 12 at 4:18PM
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 Winzone Realty Inc
Investment Insights
Based on property information with market context.
This office suite is configured with a living room area, three office rooms, and one meeting room, along with one bathroom. The space is described as approximately 750 square feet, making it well suited for professional use where a mix of private offices and meeting space is important.
The property is located at A3-15 Canterbury Rd in Great Neck, New York. The listing also notes monthly maintenance of $1,345 per month, which is relevant for budgeting and ownership planning.
For tenants or buyers seeking a compact, compartmentalized office layout, the room mix supports day-to-day workflow with dedicated areas for individual work and group discussions. The defined bathroom and separation of meeting versus office rooms can also help accommodate client meetings and internal collaboration within the same suite, based on the layout provided in the listing details.
The property is located at A3-15 Canterbury Rd in Great Neck, New York. The listing also notes monthly maintenance of $1,345 per month, which is relevant for budgeting and ownership planning.
For tenants or buyers seeking a compact, compartmentalized office layout, the room mix supports day-to-day workflow with dedicated areas for individual work and group discussions. The defined bathroom and separation of meeting versus office rooms can also help accommodate client meetings and internal collaboration within the same suite, based on the layout provided in the listing details.
Key Highlights
- Office suite with 1 living room, 1 meeting room, and 3 office rooms
- 1 bathroom
- Approximately 750 sq ft
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
$12,897
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
6.51%
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%
$257,940
$257.9K
Cap Rate 7%
$184,243
$184.2K
Cap Rate 9%
$143,300
$143.3K
Market Conditions
NOI Build-Up for 750 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
$21.0K $27.96/SF
− Vacancy
−$3.8K −$5.03/SF
EGI
$17.2K $22.93/SF
− OpEx
−$4.3K −$5.73/SF
NOI
$12.9K $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 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%
$257,940
Cap Rate 7%
$184,243
Cap Rate 9%
$143,300
Alternative Uses
Best Use
Office B
$184.2K
$161.2K – $215.0K
NOI $12,897 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$495.9K
$433.9K – $578.5K
NOI $34,712 @ 7.0% cap · market cap 17.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Office units
Location Intelligence
Trade Area within ½ mile
3,765
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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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office units - Office suite with multiple rooms and one bathroom, supported by listed monthly maintenance.
Where is this office units located?
The property is located at A3-15 Canterbury Rd Great Neck, NY.
What is the asking price?
The asking price for this property is $198,000.
What are key features of this property?
This property features: Office suite with 1 living room, 1 meeting room, and 3 office rooms; 1 bathroom; Approximately 750 sq ft
