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Neafsey Building 56 School St 2,070 SF 100% Leased Office Building Glen Cove, NY 11542 $1,094,630 CAD ($528.81 CAD/SF) 4.57% Cap Rate



Investment Highlights
- Heavy Foot Traffic
- Industrial Loft Style Finishes
- Renovated in 2016
- Central HVAC
- Exposed Brick
- Downtown Commercial District
Executive Summary
Positioned in the heart of Glen Cove’s vibrant commercial corridor, 56 School Street offers a rare opportunity for both investors and end users. This 2,070 square foot, two-story office/retail building features a highly versatile layout enhanced by industrial loft-style finishes, including exposed brick, oversized windows, and strong structural elements that reflect its pre-war character. Fully gut renovated in 2016, the property is thoughtfully configured with three private offices on the ground floor and a spacious open suite on the second floor, making it ideal for a variety of professional, retail, or creative uses. The building is equipped with two zones of central HVAC, an ADA-compliant restroom, and four designated parking spaces located at the rear. Strategically located near the Glen Cove LIRR Station and directly across from major national retailers, this property benefits from strong visibility, consistent foot traffic, and convenient accessibility. A standout asset in Glen Cove’s ongoing revitalization, this is a prime opportunity to own a signature building in a growing market. Situated directly across the street from Starbucks, Staples, AMC, F45 and other well known reatilers!
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$90,847
|
$45.42
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$90,847
|
$45.42
|
| Taxes |
$26,216
|
$13.11
|
| Operating Expenses |
$14,600
|
$7.30
|
| Total Expenses |
$40,816
|
$20.41
|
| Net Operating Income |
$50,031
|
$25.02
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $90,847 |
| Annual Per SF | $45.42 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $90,847 |
| Annual Per SF | $45.42 |
| Taxes (CAD) | |
|---|---|
| Annual | $26,216 |
| Annual Per SF | $13.11 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $14,600 |
| Annual Per SF | $7.30 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $40,816 |
| Annual Per SF | $20.41 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $50,031 |
| Annual Per SF | $25.02 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Loft/Creative Space
Building Size
2,070 SF
Building Class
B
Year Built/Renovated
1928/2016
Price
$1,094,630 CAD
Price Per SF
$528.81 CAD
Cap Rate
4.57%
NOI
$50,031 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
1,035 SF
Slab To Slab
10’
Building FAR
1.19
Lot Size
0.04 AC
Zoning
B1
Parking
4 Spaces (1.93 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Signage
- Monument Signage
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Ars Real Estate Holdings LLC
- Real Estate
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Ars Real Estate Holdings LLC | Real Estate | - | - | - |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 0600-23-E-00-0505-0 | Total Assessment | $3,789 CAD |
| Land Assessment | $907 CAD | Annual Taxes | $26,216 CAD ($12.66 CAD/SF) |
| Improvements Assessment | $2,882 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
0600-23-E-00-0505-0
Land Assessment
$907 CAD
Improvements Assessment
$2,882 CAD
Total Assessment
$3,789 CAD
Annual Taxes
$26,216 CAD ($12.66 CAD/SF)
Tax Year
2025
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Neafsey Building | 56 School St
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