CMPND Office Building Strong CoWorking Tenant
- 3 Grace Ave, Great Neck, NY
Price
$9,889,840
Cap Rate
5.0%
Occupancy
100%
GLA
22,500 SF
Lot Size
0.23 AC
Year Built
1973
LISTING BROKER
Brandon Hakimi
Director of Investment Sales
Investment Highlights
- VALUE-ADD – Below market rents providing a huge value add opportunity. Current rents are roughly 20% below market with short term leases remaining.
- LOCATION – Located in the heart of the Village of Great Neck. Walking distance to the Long Island Rail Road, banks, restaurants, courier delivery services, pharmacies, gyms, and shops.
- STABLE TENANCY – 67% of building leased to a superior and exceptional coworking company. The company has historically operated near 100% occupancy.
- SIGNIFICANT DEVELOPMENTS – The Village of Great Neck is continuing to undergo major residential developments due to the heavy demand and lack of supply of apartments.