Standalone Medical Office
For Sale
$3,690,000
Great Neck, NY 11021, Great Neck, NY 11021
Commercial Sale, Great Neck, NY
Property Size8,600 SF
Lot Size0.18 Acres
Price / SF$429.07
Days on Market22
Property Features
General Information
Property type
Commercial Sale
Property subtype
Office
Rooms
Basement
Basement
Finished
Elementary school
Lakeville Elementary School
Middle school
Great Neck South Middle School
High school
Great Neck South High School
Elementary school district
Great Neck
Middle school district
Great Neck
High school district
Great Neck
Standard status
Active
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
46458
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1986
Building materials
Brick
Listing Agency:
Lin Pan Realty Group LLC
(516) 693-9888
Listed By:
Xing Zheng · License #10401395641
(917) 902-3898
Added: Sep 18
Changed: Oct 8
Last Checked: Oct 9 at 5:06AM
MLS# 1052892
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 standalone, brick medical office building contains approximately 8,600 SF across three stories and was built in 1986. The property will be delivered vacant. Building systems include 800 Amp electrical service, medical-grade plumbing, and dual HVAC systems serving five zones. Additional features include an OTIS passenger elevator, dual fire sprinkler systems, and a rear entrance with a private staircase. The roof has a concrete and rubber surface and was replaced two years ago.
The property is on Northern Boulevard near the Queens–Nassau County boundary. It includes 21 dedicated parking spaces and is accessible by bus and Long Island Rail Road service. Public water and sewer serve the site.
The property is on Northern Boulevard near the Queens–Nassau County boundary. It includes 21 dedicated parking spaces and is accessible by bus and Long Island Rail Road service. Public water and sewer serve the site.
Key Highlights
- Approximately +/- 8,600 SF in a three‑story standalone building
- Vacant delivery; previously used for cardiology and radiology
- 800 Amp electrical service and medical‑grade plumbing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$150,876
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,017,520
$3.0M
Cap Rate 7%
$2,155,371
$2.2M
Cap Rate 9%
$1,676,400
$1.7M
Market Conditions
NOI Build-Up for 8,600 SF
Gross rent
$292.1K $33.96/SF
− Vacancy
−$40.6K −$4.72/SF
EGI
$251.5K $29.24/SF
− OpEx
−$100.6K −$11.70/SF
NOI
$150.9K $17.54/SF
Area
Nassau County, NY
Vacancy
13.90%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,017,520
Cap Rate 7%
$2,155,371
Cap Rate 9%
$1,676,400
Alternative Uses
Best Use
Healthcare Medical
$2.16M
$1.89M – $2.51M
NOI $150,876 @ 7.0% cap · market cap 4.09%
Second Best
Office B
$2.11M
$1.85M – $2.46M
NOI $147,880 @ 7.0% cap · market cap 4.01%
Theoretical Best
Specialty Retail
$5.69M
$4.98M – $6.63M
NOI $398,030 @ 7.0% cap · market cap 10.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Sprinkler system
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,549
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
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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?
Medical Office Space - A vacant, three-story facility offers medical-grade plumbing, redundant HVAC, and dedicated on-site parking.
Where is this medical office space located?
The property is located at Great Neck, NY.
What is the asking price?
The asking price for this property is $3,690,000.
What are key features of this property?
This property features: Approximately +/- 8,600 SF in a three‑story standalone building; Vacant delivery; previously used for cardiology and radiology; 800 Amp electrical service and medical‑grade plumbing
