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    10 Little Neck Rd Centerport, NY 11721

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    10 Little Neck Rd Centerport, NY 11721

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    • Retail properties & Spaces
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    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mike’s Gym Equipment / Big Box & Wholesale Store
    • Simply Fit Personal Training / Gym & Fitness Center
    • Isabella Nails Salon / Nail Salon
    • Darin W. Reed: Allstate Insurance / Insurance Agency
    • Timothy's Pizza Kitchen 🍕 / Restaurant

    Property Details for 10 Little Neck Rd

    Property type
    Retail properties & Spaces
    Property subtype
    Office properties & Spaces

    Description

    This exceptional 1,400 square foot creative office space, or coworking space, is ideally situated in the vibrant Centerport area of Suffolk County, directly off of Route 25A on Little Neck Road. The property boasts a prime location within an excellent tenant mix, ensuring high visibility and foot traffic. The space is perfect for a single tenant seeking a unique and stylish environment. Recently remodeled, the interior features modern subway tiles and brand new flooring throughout, creating a fresh and contemporary atmosphere. The property is classified as retail and office space, offering versatility for a range of businesses. Its single-tenant occupancy ensures exclusive use and control of the entire space. The address is 10 Little Neck Road, conveniently located near the intersection of Little Neck Road and Route 25A, providing easy access for clients and employees. This is a rare opportunity to secure a beautifully remodeled, high-visibility commercial space in a desirable location. The property's size and features make it suitable for a variety of creative businesses or a collaborative coworking environment. Don't miss this chance to establish your business in this thriving Centerport community. Inquire today for more details and to schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Centerport
    County
    Suffolk
    State
    New York
    Longitude
    -73.3663
    Latitude
    40.8869

    Comparable in this City

    • Value Estimation
      $995,000
      0.22 Acres

      12 Little Nck Rd

      OFFICE BUILDING • 0.22 Acres
      12 Little Nck Rd, Centerport, NY 11721-1613
      View Details
    • Value Estimation by Request
      0.35 Acres

      410 Main St

      OFFICE BUILDING • 0.35 Acres
      410 Main St, Centerport, NY 11721-1541
      View Details
    • Value Estimation by Request
      1.90 Acres

      434 Main St

      OFFICE BUILDING • 1.90 Acres
      434 Main St, Centerport, NY 11721-2200
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    • Value Estimation by Request
      0.09 Acres

      101 Ml Dm Rd

      OFFICE BUILDING • 0.09 Acres
      101 Ml Dm Rd, Centerport, NY 11721-1502
      View Details
    • Value Estimation
      $1,425,000
      0.74 Acres

      15 Park Cir

      OFFICE BUILDING • 0.74 Acres
      15 Park Cir, Centerport, NY 11721-1630
      View Details
    • Value Estimation by Request
      0.06 Acres

      107 Ml Dm Rd

      RETAIL STORES (PERSONAL SERVICES) • 0.06 Acres
      107 Ml Dm Rd, Centerport, NY 11721-1502
      View Details

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    10 Little Neck Rd
    Centerport, NY 11721
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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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