Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    5 Station Plz Great Neck, NY 11021
    Back to Search
    Property profile & analytics

    5 Station Plz Great Neck, NY 11021

    View on Map
    • Retail properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Blo Me Away Blow Dry Bar / Hair Salon
    • Airbar Blow Dry Bar / Hair Salon

    Property Details for 5 Station Plz

    Property type
    Retail properties & Spaces

    Description

    This exceptional 850-square-foot retail space at 5 North Station Plaza in Great Neck, NY, presents a fantastic opportunity for a discerning business. Previously occupied by Air Bar Blow Dry, the property boasts existing plumbing infrastructure for sinks, simplifying tenant improvements. The high exposed ceilings create a modern and stylish ambiance, while a convenient back exit provides direct access to outdoor parking, enhancing customer convenience. Benefit from the high visibility afforded by its prominent street-front location, ensuring excellent exposure to the steady flow of pedestrian traffic in this bustling area. Located in the heart of Great Neck, this space offers easy access to local amenities and enjoys a central position within the community. Commuting is a breeze, with the Great Neck LIRR station just a 3-minute walk away, making it easily accessible for employees and customers alike. The property's single-tenant occupancy ensures exclusive use and control, providing an ideal setting for a variety of retail ventures. The zip code is 11021. This property is a prime location for a business seeking high visibility and convenient access in a thriving Great Neck neighborhood.

    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
    -73.7275
    Latitude
    40.7874

    Comparable in this City

    • Value Estimation by Request
      700 SF

      4B Station Plz

      Individual retail properties • 700 SF
      4B Station Plz, Great Neck Plaza, NY 11021
      View Details
    • Value Estimation by Request
      9,100 SF

      120 Middle Neck Rd

      Office Spaces • 9,100 SF
      120 Middle Neck Rd, Great Neck, NY 11021
      View Details
    • 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
      View Details
    • Value Estimation by Request

      23 Station Plz

      Retail properties & Spaces
      23 Station Plz, Great Neck, NY 11021
      View Details
    • Value Estimation by Request

      25 Middle Neck Rd

      Restaurants
      25 Middle Neck Rd, Great Neck, NY 11021
      View Details
    • 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
      View Details

    Similar Nearby for Sale

    • $39,000

      Retail Business Opportunity Great Neck

      Retail business for sale in prime Great Neck location.
      45 Northern Blvd, Great Neck, NY 11021
      View Details
    • $8,990,000
      0.23 Acres

      Great Neck Mixed-Use Investment

      Fully occupied mixed-use building in prime Great Neck location.
      17 Maple Dr, Great Neck, NY 11021
      View Details
    • $488,888
      800 SF

      Storefront in Great Neck Heart

      800 sq ft storefront ideal for retail or office.
      57A Cuttermill Rd, Great Neck, NY 11021
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      550 SF

      Retail Space in Great Neck

      Retail space available in affluent Great Neck community.
      2-50 Great Neck Rd, Great Neck, NY 11021
      View Details
    • $9,950 /Mo
      2,426 SF

      Updated Retail Space in Great Neck

      Updated retail space in the heart of Great Neck Plaza.
      65 Middle Neck Rd, Great Neck, NY 11021
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space on Middle Neck

      Retail space available on a high-traffic road.
      62 Middle Neck Rd, Great Neck, NY 11021
      View Details
    • $12,000 /Mo

      Great Neck Retail/Office Space

      Prime 4,400 SF space in Great Neck business district.
      42 Middle Neck Rd, Great Neck, NY 11021
      View Details
    • $12,800 /Mo

      Retail Space in Great Neck

      Prime retail space with basement in a busy commercial district.
      99 Middle Neck Rd, Great Neck, NY 11021
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5 Station Plz
    Great Neck, NY 11021
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    5 Station Plz, Great Neck, NY, 11021
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!