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Rare Investment Opportunity 29 Barstow Rd

23,118 SF 60% Leased Office Building Great Neck, NY 11021 £7,584,096 (£328/SF) 6.23% Net Initial Yield

Executive Summary

A fantastic opportunity for investors looking to secure a property in a prime location with medical and professional office use. The property offers 23,118 Square Feet of space, perfect for a variety of commercial needs. Built in 1973, it has recently undergone remodeling and renovation, such as New Boiler, Roof, hallways with New paint, carpet and LED Lighting. Ensuring a comfortable and efficient space for tenants. For additional tenants’ convenience, all suites includes private bathrooms.
Situated in the heart of Great Neck Plaza , a well known area for its affluent population, excellent schools, and bustling business community. The area is highly desirable due to its proximity to the LIRR and town shopping, making it an ideal commercial spot for any kind of business.
The property includes underground parking, providing secure and convenient access to over 75 parking spaces. Additionally, with long-term tenants in place, the property offers a stable and reliable source of income for potential investors or owners.

Property Facts

Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
23,118 SF
Building Class
B
Year Built/Renovated
1973/2001
Price
£7,584,096
Price Per SF
£328
Net Initial Yield
6.23%
NOI
£472,394
Percent Leased
60%
Tenancy
Multiple
Number of Floors
3
Typical Floor Size
7,706 SF
Slab to Slab
10 ft
Building FAR
1.56
Land Acres
0.34 AC
Zoning
Residence D
Parking
75 Spaces (3.24 Spaces per 1,000 SF Leased)
Walk Score ®
Very Walkable (87)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
2213-02-192-00-0083-0
Land Assessment
£4,148
Improvements Assessment
£29,512
Total Assessment
£33,659
  • Listing ID: 28471550

  • Date on Market: 12/05/2023

  • Last Updated:

  • Address: 29 Barstow Rd, Great Neck, NY 11021

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