Corner Flex Building with
For Sale
$1,299,999
150 Jerusalem Avenue, Massapequa, NY 11758
Commercial Sale, Massapequa, NY
Property Size3,700 SF
Lot Size0.22 Acres
Price / SF$351.35
Days on Market223
Property Features for 150 Jerusalem Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
20
Parking features
Parking Lot
Security features
Security
Lot features
Corner Lot
Standard status
Active
APN
2489-52-288-00-3730-0
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
26767
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas, Hot Water(Heating)
Cooling system
Multi Units, Window Unit(s), Wall/Window Unit(s), Central Air
Water source
Public
Building Details
Year built
1931
Floors in Building
2
Number of units
2
Flooring type
Combination
Building materials
Aluminum Siding, Frame, Vinyl Siding
Additional Structures
Residence
Listing Agency:
Douglas Elliman Real Estate
(516) 623-4500
Listed By:
Paul M. DeTurris
(516) 509-0907
Added: Feb 16
Changed: Sep 12
Last Checked: Sep 27 at 7:06PM
MLS# 962119
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story flex property combines finished office areas with a rear warehouse, overhead loading door, and additional storage. Kitchen and bathroom areas are included, along with a separate one-family guest house identified as 714 Franklin Ave. The improvements date to 1931 and include aluminum, frame, and vinyl siding, public water, and public sewer.
Positioned at the corner of Main Street, the property has 90 feet of frontage and a 9,550-square-foot lot. On-site parking accommodates 20+ cars. C6 zoning, proximity to highways, and the combination of office, warehouse, and residential improvements create a property with multiple stated use possibilities, including medical, dental, insurance, and professional office applications.
Positioned at the corner of Main Street, the property has 90 feet of frontage and a 9,550-square-foot lot. On-site parking accommodates 20+ cars. C6 zoning, proximity to highways, and the combination of office, warehouse, and residential improvements create a property with multiple stated use possibilities, including medical, dental, insurance, and professional office applications.
Key Highlights
- C6‑zoned property with office, warehouse, and residential improvements
- 9,550 sq ft lot with 90 Ft Frontage
- Two‑story office building with rear warehouse and overhead door
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$64,299
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.95%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,285,980
$1.3M
Cap Rate 7%
$918,557
$918.6K
Cap Rate 9%
$714,433
$714.4K
Market Conditions
NOI Build-Up for 3,700 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$81.3K $21.96/SF
− Vacancy
−$5.6K −$1.52/SF
EGI
$75.6K $20.44/SF
− OpEx
−$11.3K −$3.07/SF
NOI
$64.3K $17.38/SF
Area
Nassau County, NY
Vacancy
6.90%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,285,980
Cap Rate 7%
$918,557
Cap Rate 9%
$714,433
Alternative Uses
Best Use
Warehouse
$918.6K
$803.7K – $1.07M
NOI $64,299 @ 7.0% cap · market cap 4.95%
Second Best
Office B
$908.9K
$795.3K – $1.06M
NOI $63,623 @ 7.0% cap · market cap 4.89%
Theoretical Best
Specialty Retail
$2.45M
$2.14M – $2.85M
NOI $171,245 @ 7.0% cap · market cap 13.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
780
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11758, NY
54,226
Population
19,297
Households
2.8
Avg Household Size
44
Median Age
50%
College-Educated
97%
High-School Grad
12.0 sq mi
ZIP Area
4,519
Density / Sq Mi
$157,404
Median Household Income
$72,947
Median Earnings
$2,153
Median Rent
$624,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
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Similar Off Market Nearby
- C&C Catering Service, Ltd. — 571 Broadway, Massapequa, NY 11758
- AAA Royal Catering — 683 Franklin Ave, Massapequa, NY 11758
- Platinum Party Planners and Catering — 179 Jerusalem Ave, Massapequa, NY 11758
- All American Wontons Storefront & Food Truck — 830 N Broadway, Massapequa, NY 11758
Frequently Asked Questions
What type of property is this?
Flex space - Two-level offices, rear storage, and on-site parking support varied commercial configurations.
Where is this flex space located?
The property is located at 150 Jerusalem Avenue Massapequa, NY.
What is the asking price?
The asking price for this property is $1,299,999.
What are key features of this property?
This property features: C6‑zoned property with office, warehouse, and residential improvements; 9,550 sq ft lot with 90 Ft Frontage; Two‑story office building with rear warehouse and overhead door
