Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    124 Middle Nck Rd Great Neck, NY 11021-1245

    • Automotive properties
    • 11,680 SF
    • 0.36 lot acres
    OFF-MARKET
    Last Sale
    Apr 07, 2022
    $9,900,000
    Value Estimations
    $7,640,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1938252
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Biener Pre-Owned Center / Used Car Dealer

    Property Details for 124 Middle Nck Rd

    Year built
    1926
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.36 lot acres
    Property size
    11,680 SF
    Property type
    Automotive properties
    APN
    02-250-00-0005
    APU
    2250000005

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,790,000
      ML approach
      $9,320,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,181,000
      Market price range: $3.77M - $13.1M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $7,675,000
      Current use
      RESTAURANT
      $10,370,000
      Change: +35% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $10,245,000
      Change: +33% Conversion: Difficult
      OFFICE BUILDING
      $8,240,000
      Change: +7% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $7,560,000
      Change: -1% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $7,045,000
      Change: -8% Conversion: Easy
      RETAIL STORES
      $6,655,000
      Change: -13% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Great Neck
    County
    Nassau
    State
    New York
    Longitude
    -73.7234
    Latitude
    40.785
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $109,241
    $23,167
    $1.00
    $23,168
    -
    $0.00
    $0.00
    $2,316,800

    Comparable in this City

    • Value Estimation by Request
      435 SF

      780 Northern Blvd

      VEHICLE SALES, RENTALS • 435 SF
      780 Northern Blvd, Great Neck, NY 11021-5205
      View Details
    • Value Estimation
      $7,135,000
      16,000 SF

      124 Middle Nck Rd

      VEHICLE SALES, RENTALS • 16,000 SF
      124 Middle Nck Rd, Great Neck, NY 11021-1245
      View Details
    • Value Estimation by Request
      16,500 SF

      799 Northern Blvd

      VEHICLE SALES, RENTALS • 16,500 SF
      799 Northern Blvd, Great Neck, NY 11021
      View Details
    • Value Estimation by Request
      720 SF

      125 Northern Blvd

      VEHICLE SALES, RENTALS • 720 SF
      125 Northern Blvd, Great Neck, NY 11021
      View Details
    • Value Estimation
      $190,000
      4,615 SF

      195 Northern Blvd

      VEHICLE SALES, RENTALS • 4,615 SF
      195 Northern Blvd, Great Neck, NY 11021-4401
      View Details
    • Value Estimation by Request
      9,400 SF

      66 Northern Blvd

      VEHICLE SALES, RENTALS • 9,400 SF
      66 Northern Blvd, Great Neck, NY 11021
      View Details

    Similar Nearby for Sale

    • $39,000

      Retail Business in Great Neck

      Prime location retail business for sale in Great Neck.
      45 Northern Blvd, Great Neck, NY 11021
      View Details
    • $188,000

      Turnkey Restaurant Business For Sale

      Established restaurant with liquor license and option to renew lease.
      77 Middle Neck Rd, Great Neck, NY 11021
      View Details
    • New
      Contact for pricing
      1,140 SF

      Corner Retail Pharmacy Store Available

      Corner retail space with high visibility and traffic in Corona.
      140-01 Northern Boulevard, Corona, NY 11021
      View Details
    • $16,999,000
      66,739 SF

      Great Neck Executive Offices

      Three prime office buildings, 66,739 SF
      287 Northern Blvd, Great Neck, NY 11021
      View Details
    • $228,000
      750 SF

      Great Neck Office For Sale

      Office space in Great Neck, NY, approximately 750 square feet.
      15 Canterbury Rd, Great Neck, NY 11021
      View Details
    • $550,000

      Tuscany Court Two Bedroom Apartment

      Bright, renovated two-bedroom apartment with modern amenities and convenient location.
      215 Middle Neck Rd, Great Neck, NY 11021
      View Details

    Similar Nearby for Lease

    • $6,990 /Mo
      1,700 SF

      Built-Out Retail Space in Great Neck

      Ready-to-go retail space near LIRR, shopping, and residential areas.
      39 Great Neck Rd, Great Neck Plaza, NY 11021
      View Details
    • Contact for pricing
      4,240 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
    • $4,000 /Mo

      Retail Space in Thriving Location

      Desirable retail space for lease in a thriving location.
      350-354 Great Neck Rd, Great Neck, NY 11021
      View Details
    • $5,030 /Mo

      Prime Commercial Lease Opportunity

      Commercial lease opportunity with versatile interior and high visibility.
      107 Blvd N, Great Neck, NY 11021
      View Details
    • Contact for pricing
      5,200 SF

      Retail Space in Great Neck

      Retail space available in affluent Great Neck community.
      60 Great Neck Rd, Great Neck, NY 11021
      View Details
    • $2,400 /Mo

      Great Neck Commercial Space

      Commercial space available for rent in Great Neck, NY.
      29 Barstow 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.
    124 Middle Nck Rd
    Great Neck, NY 11021-1245
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.