29 Barstow RdGreat Neck, NY 11021

For Sale
$9,600,000

Prime Location, High NOI, Excellent Condition

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional 23,118 square foot Class B medical office building, located at 29 Barstow Rd in Great Neck Plaza, NY 11021, presents a compelling investment opportunity. Built in 1973 and extensively renovated in 2022, the property boasts a strong 5.48% cap rate and a substantial net operating income (NOI) of $597,612. The asking price is $9,600,000, translating to $415.26 per square foot. The building comprises 25 units, each equipped with a private bathroom, catering to the needs of medical and professional tenants. Recent upgrades include a new boiler, roof, hallway paint, carpeting, and LED lighting, ensuring a modern and efficient workspace. The property benefits from a highly desirable location in Great Neck Plaza, known for its affluent population, excellent schools, and thriving business community. Its proximity to the Long Island Rail Road (LIRR) and local shopping further enhances its appeal. Furthermore, the building offers convenient access to over 75 underground parking spaces. With long-term tenants in place, this property provides a stable and reliable income stream for investors seeking a secure and profitable investment in a prime Long Island location.

Highlights

  • $9,600,000 asking price for a 23,118 square foot medical office building.
  • Class B property with a 5.48% cap rate and $597,612 NOI.
  • Located at 29 Barstow Rd, Great Neck Plaza, NY 11021.
  • Features 25 units, recently renovated (2022), and includes a new boiler, roof, and updated hallways.
  • Offers over 75 underground parking spaces and boasts long-term tenants.

Property Details for 29 Barstow Rd

Property type
Other office properties, Medical offices
Square Feet
23,118 SF
Class
B
Year Built/Renovated
1973/2022
Units
25

Location Insight

City
Great Neck
County
Nassau
State
New York
Latitude
40.7903044
Longitude
-73.7249382
29 Barstow Rd, Great Neck, New York

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29 Barstow Rd
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