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    15 Canterbury Rd Great Neck, NY 11021
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    15 Canterbury Rd, Great Neck, NY 11021

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    • Medical Office Space
    For Sale
    $198,000
    View Listing →
    Office Space with Multiple Rooms For Sale
    $198,000
    750 SF

    Office Space with Multiple Rooms

    Well-suited for small professional teams needing several private rooms and a dedicated meeting area.

    15 Canterbury Road, Great Neck, NY 11021
    View Listing
    Property ID
    US63-0250164
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Great Neck Endodontics / Dental Office
    • Cloud Lions LLC / Tech Support Center / IT Consulting Firm
    • Dr. Susan Letteney / Foster Care Service / Social Service Agency
    • Dr Mehri Songhorian / Physician / Medical Clinic
    • Canterbury Dental Care @ Great Neck / Dental Office

    Property Details for 15 Canterbury Rd

    Property type
    Medical Office Space

    Description

    This fully renovated 3-room office condo in Great Neck Plaza, NY (15 Canterbury Rd, Apt A7, 11021) presents a rare ownership opportunity. Priced at $240,000, this cooperative unit boasts one full bathroom with shower and ample closet space. The 2023 renovation is complete, with occupancy available October 31, 2024. Conveniently located near municipal parking, the LIRR, buses, shops, and restaurants, this suite offers easy access to major transportation routes and highways. Its versatile layout is suitable for a variety of professional uses, including medical offices, labs, legal practices, beauty salons, and more. The unit features handicap access. A monthly maintenance fee of $1237 covers real estate taxes, heat, hot water, and water. The building's prime location provides access to Great Neck amenities such as the Parkwood Pool, waterfront parks, ice skating rinks, libraries, and a marina. This is an exceptional opportunity to own a well-located, renovated professional space in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Great Neck
    County
    Nassau
    State
    New York
    Longitude
    -73.7234211
    Latitude
    40.7889677

    Comparable in this City

    • $9,600,000
      23,118 SF

      Great Neck Medical Office Building

      Prime Location, High NOI, Excellent Condition
      29 Barstow Rd, Great Neck, NY 11021
      View Details
    • New
      $198,000
      750 SF

      Office Space with Multiple Rooms

      Well-suited for small professional teams needing several private rooms and a dedicated meeting area.
      15 Canterbury Rd, Great Neck, NY 11021
      View Details
    • $8,990,000

      Fully Occupied Mixed-Use Building

      Fully occupied mixed-use building with 10 tenants, combining retail and office space for a 1031 exchange sale.
      17 Maple Dr, 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 Sale

    • $9,600,000
      23,118 SF

      Great Neck Medical Office Building

      Prime Location, High NOI, Excellent Condition
      29 Barstow Rd, 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
    • New
      $198,000
      750 SF

      Office Space with Multiple Rooms

      Well-suited for small professional teams needing several private rooms and a dedicated meeting area.
      15 Canterbury Rd, Great Neck, NY 11021
      View Details
    • $8,990,000

      Fully Occupied Mixed-Use Building

      Fully occupied mixed-use building with 10 tenants, combining retail and office space for a 1031 exchange sale.
      17 Maple Dr, Great Neck, NY 11021
      View Details

    Similar Nearby for Lease

    • $1,250 /Mo

      Turnkey Medical Office Suite

      Fully equipped suite with multiple exam rooms and therapy setup, available for flexible three-day weekly leasing.
      707 Middle Neck Rd, Great Neck, NY 11021
      View Details
    • Contact for pricing
      6,620 SF

      Great Neck Medical Office Building

      Class A space, 6,620 SF available
      833 Northern Blvd, Great Neck, NY 11021
      View Details
    • $1,000 /Mo

      Medical Office Space For Lease

      Turnkey medical office space available in Great Neck, NY.
      707 Middle Neck Rd, Great Neck, NY 11021
      View Details
    • $1,250 /Mo

      Equipped Medical Office Space

      Turnkey medical suite available for lease in Great Neck.
      707 Middle Neck Rd, Great Neck, NY 11021
      View Details
    • Contact for pricing

      Modern Office Suite in Great Neck

      High-end office space with sink, ideal for medical/cosmetic practices.
      107 Northern Blvd, Great Neck, NY 11021
      View Details
    • Contact for pricing
      5,000 SF

      Professional Office / Medical Building

      Two-story elevatored building with on-site parking near Northern Boulevard.
      333 E Shore Rd, Manhasset, NY 11021
      View Details
    View Listing
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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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