653-655 Middle Neck RdGreat Neck, NY 11023

Property Details for 653-655 Middle Neck Rd

Year built

1900

Construction

FRAME

Lot size

0.14 AC

Property size (Sq ft)

2,277 SF

Property type

Retail properties

Property subtype

Retail space

APN

01-088-00-0454

APU

1088000454

Description

This exceptional commercial property, located at 653-655 Middle Neck Rd in Great Neck, NY 11023, presents a unique investment opportunity. The 9,010 square foot storefront, built in 1900, is a two-story building with a permitted commercial zoning. The property includes seven parking spaces, a significant advantage in this location. Currently housing a well-established bathroom fixtures and accessories business, the sale includes both the real estate and the business. The asking price for the property is $2,900,000, while the business is priced separately at $500,000, totaling $3,788,000 for both. The property boasts a rich history, having been continuously operated as a retail space since 1970, undergoing significant renovations and expansions over the years to create luxurious showrooms on both floors. The building's history includes a conversion of a former lumberyard into storage space and the transformation of the second floor into a showroom. The property is situated in Nassau County and offers a prime location for a variety of retail uses. Showings are by appointment only, and proof of funds is required. A non-disclosure agreement is necessary for access to business financials. All information should be independently verified.

• CAP approach

  CAP return

  Valuation

  6%

  $553,390

  6.5%

  $510,822

  7%

  $474,335

• Comparable approach

  Method

  Valuation

  Relative Method

  $749,732

  Geo Method

  $749,732

• Alternative Use

  Use

  Valuation

  Residential

  $430,897

  Hospitality

  $394,700

  Educational

  $328,386

  Medical

  $339,679

  Retail

  $510,822

Location Insight

City

Great Neck

County

Nassau

State

New York

Latitude

40.8043

Longitude

-73.735

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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