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Property profile & analytics
FOR SALE
Office buildings
3 Grace Ave Great Neck, NY 11021-2415
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US63-4117599
No photos on file
For Sale
Contact for pricing
3 Grace Ave, Great Neck, NY 11021-2415
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
7,547 SF
Lot
0.22 ac (9,800 SF)
APN
02-195-00-0020
UPID
US63-4117599
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Landmark Capital Advisory LLC. Bank Credit Union
-
RJ Media Advertising Agency Marketing & Advertising
-
Stacey Pamela Klein Esq. PLLC Law Firm
-
CMPND | Private Offices & Coworking Space Coworking & Hybrid Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.23M
Owner & transaction history
3 Grace LLC · 11 yrs held
3 Grace LLC
since 2015
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.7M
+25.8%
Neighborhood: shopping center
$6.6M
+24.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Great Neck submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Great Neck submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$5,325,000
Current use
RESTAURANT
$6,700,000
Change: +26% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$6,620,000
Change: +24% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,960,000
Change: -7% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,885,000
Change: -8% · Conversion: Easy
INDUSTRIAL (GENERAL)
$4,550,000
Change: -15% · Conversion: Difficult
RETAIL STORES
$4,300,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$4.23M
Range $3.80M – $4.65M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$560 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$15,433
Tax year 2023
Assessed value
$36,374
Assessed 2023
Previous assessed
$36,374
+0.0% YoY
Effective rate
42.43%
On assessed value
Assessed land
$3,920
Assessed improvement
$32,454
Total market value
$3,637,400
Applied tax rate
817.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Total area
7,547 SF
Lot
0.22 ac (9,800 SF)
APN
02-195-00-0020
UPID
US63-4117599
Jurisdiction
NASSAU
Metro division
NASSAU-SUFFOLK, NY METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$5.3M
RESTAURANT
Est. value
$6.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.6M
AUTO REPAIR, GARAGE
Est. value
$5.0M
COMMERCIAL (GENERAL)
Est. value
$4.9M
INDUSTRIAL (GENERAL)
Est. value
$4.6M
RETAIL STORES
Est. value
$4.3M
OFFICE BUILDING Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
0.22 ac
Current owner
From public records · entity-resolved
3 Grace LLC
Entity
Mailing address
98 CUTTERMILL RD STE 284N, GREAT NECK, NY 11021-3036
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 20, 2018
—
3 Grace LLC
—
Loan Modification, Consolidation And Extension
related
$1,834,000 · Sterling Nat'l Bk
Jul 20, 2015
—
3 Grace LLC
Nassau County Indl Dev Agcy
Grant Deed
—
Mar 20, 2013
$3,000,000
3 Grace LLC
Sbs 2011-1 Reo 104999 LLC
Grant Deed
—
Dec 17, 2012
$5,479,458
Sbc 2011-1 Reo 104999 LLC
Referee Of Nassau County
Trustees Deed
—
May 18, 2006
—
Ronson Family LLC
Zelouf,rashel
Grant Deed
related
—
Feb 18, 2005
$2,975,000
Smits Structure Corp
Ggf Holdings LLC
Grant Deed
—
Jun 11, 2004
$536,000
Steven Balazaden
Namdar,denis
Grant Deed
—
—
—
Smits Structure Corp
—
Deed Of Trust
related
$4,500,000 · Washington Mutual Fsb
—
—
Nassau County Indl Dev Agcy
—
Deed Of Trust
related
$2,650,000 · Sterling Nat'l Bk
—
—
Smits Structure Corp
—
Deed Of Trust
related
$4,500,000 · Washington Mutual Fsb
—
—
Nassau County Indl Dev Agcy
—
Deed Of Trust
related
—
—
—
Nassau County Indl Dev Agcy
—
Deed Of Trust
related
$2,650,000 · Sterling Nat'l Bk
—
—
Smits Structure Corp
—
Deed Of Trust
related
$2,426,854 · Washington Mutual Fsb
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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