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    25 Middle Neck Rd Great Neck, NY 11021
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    25 Middle Neck Rd Great Neck, NY 11021

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    • Retail properties & Spaces
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    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Daddy's Barber Shop / Barber Shop

    Property Details for 25 Middle Neck Rd

    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional commercial property at 25 Middle Neck Road in Great Neck, NY 11021, presents a unique opportunity for a discerning restaurateur or retailer. The main floor, totaling 3,500 square feet, boasts a high-visibility glass frontage ensuring maximum exposure to the bustling Great Neck Plaza. This inviting space includes a well-appointed bar area, a spacious dining section with large windows, a smaller kitchen, a private party room perfect for special events, and a handicap-accessible bathroom. The property's prime location guarantees high foot traffic, with its proximity to the Long Island Rail Road (LIRR) station, numerous offices, and residential buildings ensuring a steady stream of potential customers. Convenient public parking is also readily available nearby. Beyond the main floor, a substantial 5,000-square-foot lower level/basement offers extensive operational capabilities. This lower level features a full-service kitchen, walk-in refrigerator and freezer units, a dedicated prep room, a comfortable worker's lounge, a manager's office, and separate men's and women's restrooms. Previously occupied by Millie's Restaurant, this space is ready for immediate occupancy and offers a turnkey solution for a new business. The combined 8,500 square feet provides ample space for a variety of uses, making it an ideal location for a thriving restaurant or retail establishment. This is a truly exceptional opportunity in a highly desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Great Neck
    County
    Nassau
    State
    New York
    Longitude
    -73.728
    Latitude
    40.7874

    Comparable in this City

    • Value Estimation by Request
      9,100 SF

      120 Middle Neck Rd

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    • Value Estimation by Request
      126,452 SF

      R Great Nck Rd. & Middle Nck

      Land • 126,452 SF
      R Great Nck Rd. & Middle Nck, Great Neck Plaza, NY 11021
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    • Value Estimation by Request

      23 Station Plz

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      23 Station Plz, Great Neck, NY 11021
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      700 SF

      4B Station Plz

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      4B Station Plz, Great Neck Plaza, NY 11021
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      5 Station Plz

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      5 Station Plz, Great Neck, NY 11021
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    • Value Estimation by Request
      1,100 SF

      2-10 Middle Neck Rd

      Retail properties & Spaces • 1,100 SF
      2-10 Middle Neck Rd, Great Neck Estates, NY 11021
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    Great Neck, NY 11021
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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