Great Neck, NY High Cap Rate Commercial Investment Properties for Sale

Explore commercial real estate investment properties for sale in Great Neck, New York Market population: 10K. Compare commercial properties across all major asset...

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📊 Average Cap Rate For Great Neck NY Properties: 6.86%

⭐ Featured

190 Manhattan Ave, Buffalo, NY â€“ Prime Multifamily Investment with 7.56% Cap Rate

$6,500,000

Buffalo Multifamily

Discover a compelling investment in Buffaloâ€™s vibrant market with this 65,000-square-foot garden-style apartment prope...

Cap Rate 7.56%

NOI $491,400

Size 65,000 SF

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📊 Avg Property Tax Rate For Great Neck NY Properties: 1.5800%

⭐ Featured

Prime Buffalo Multifamily Investment: 12-Unit Apartment Building with 6.16% Cap Rate

$1,750,000

Buffalo Multifamily

Discover a compelling multifamily investment opportunity in Buffalo, NY. This 12-unit apartment building, priced at $1,7...

Cap Rate 6.16%

NOI $107,842

Size 8,640 SF

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Investor Questions For Great Neck NY

Common questions from investors exploring commercial real estate in Great Neck NY.

What makes Great Neck, NY an attractive location for real estate investment? +

The combination of a high median household income of $88,975, a relatively low poverty rate of 7.4%, and a diverse population with top ethnicities including White, White Non-Hispanic, and Asian, suggests a stable and attractive market for investors. Additionally, the strong presence of industries like Finance & Insurance and Professional, Scientific, & Management services indicates a robust local economy. With a high health insurance coverage rate of 96.2%, investors can expect a relatively stable tenant base.

How does the commute time and transportation infrastructure impact the quality of life for residents and investors in Great Neck, NY? +

The average commute time of 35.3 minutes, although slightly higher than some other areas, is mitigated by the availability of public transit and the fact that many residents can work from home, as indicated by the top commute methods. This, combined with a high health insurance coverage rate of 96.2% and a low poverty rate of 7.4%, suggests that residents enjoy a relatively high quality of life, making it an attractive location for investors looking to rent out properties.

What are the implications of the demographic and economic data for real estate investors in Great Neck, NY? +

The demographic data showing a median age of 39.5, a foreign-born rate of 34.6%, and top ethnicities including White, White Non-Hispanic, and Asian, suggests a diverse and potentially dynamic market. Economically, the median property value of $696,900 and median property taxes of $2,556, along with a high employment rate and low unemployment rate of 3.4%, indicate a strong and stable real estate market. The GINI coefficient of 0.474 also suggests a level of income inequality, which investors should consider when evaluating potential returns.

How does the education level and health data impact the attractiveness of Great Neck, NY as a real estate investment location? +

The high school graduation rate of 94.2% and the percentage of residents with a Bachelor's degree or higher of 55.6% suggest a well-educated population, which can contribute to a stable and attractive market for investors. Additionally, the low obesity rate of 14.1% and smoking rate of 7.3%, combined with a high health insurance coverage rate of 96.2%, indicate a relatively healthy population, which can lead to lower costs and higher quality of life for residents, making it an attractive location for real estate investment.

What are the key factors that investors should consider when evaluating the potential for rental yields and property appreciation in Great Neck, NY? +

Investors should consider the combination of a high median household income of $88,975, a relatively low poverty rate of 7.4%, and a diverse population, which suggests a stable and attractive market. The strong presence of industries like Finance & Insurance and Professional, Scientific, & Management services, along with a high health insurance coverage rate of 96.2% and a low unemployment rate of 3.4%, indicates a robust local economy and a high quality of life for residents. These factors, along with the median property value of $696,900 and median property taxes of $2,556, suggest potential for both rental yields and property appreciation.

Great Neck NY Real Estate & City Facts

Key facts and real estate information about Great Neck NY.

What are some of the best neighborhoods to live in Great Neck? +

Some of the best neighborhoods to live in Great Neck include Great Neck Plaza, Harbor Hills, Kensington, Kings Point, and Lake Success. These neighborhoods offer a range of housing options, from affordable homes to luxury estates, and are known for their convenience, walkability, and community amenities.

What are some fun things to do in Great Neck? +

There are plenty of fun things to do in Great Neck, including visiting the New York Botanical Garden, taking a historic walking tour of the village, and exploring the many parks and playgrounds in the area. You can also check out the Playscape, an indoor playground with a LEGO room, reading corner, and wall toys. For foodies, there are many great restaurants to try, including Colbeh, a Mediterranean restaurant, and Blacksmith BBQ.

What is the food scene like in Great Neck? +

The food scene in Great Neck is diverse and vibrant, with a range of restaurants serving everything from Mediterranean cuisine to BBQ and Chinese food. Some popular restaurants include Colbeh, Blacksmith BBQ, and GanBlaze, and there are also plenty of great food trucks and sidewalk vendors to try. Additionally, the area is home to many specialty food stores and markets, including bagel shops and Italian ice vendors.

What are the pros and cons of living in Great Neck? +

The pros of living in Great Neck include its convenient location, with easy access to New York City, its diverse community, and its many parks and recreational facilities. However, some cons include the high cost of living, with expensive housing and taxes, and the potential for traffic and congestion in the area. Overall, Great Neck is a great place to live for those who value community, convenience, and access to amenities.

Is Great Neck a good place to live? +

Yes, Great Neck is a good place to live, offering a unique blend of small-town charm and big-city amenities. With its diverse community, convenient location, and many parks and recreational facilities, Great Neck is an attractive option for families, young professionals, and retirees alike. While it may have some drawbacks, such as high costs and traffic, the benefits of living in Great Neck make it a great choice for those who want to experience the best of Long Island living.

Great Neck, NY High Cap Rate Commercial Investment Properties for Sale

Don’t just search properties. See why investors choose REI Capital.

📊 Average Cap Rate For Great Neck NY Properties: 6.86%

190 Manhattan Ave, Buffalo, NY â€“ Prime Multifamily Investment with 7.56% Cap Rate

📊 Avg Property Tax Rate For Great Neck NY Properties: 1.5800%

Prime Buffalo Multifamily Investment: 12-Unit Apartment Building with 6.16% Cap Rate

Investor Questions For Great Neck NY

Great Neck NY Real Estate & City Facts

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