Medical Office Space with
For Sale
$325,000
230 Hilton Avenue, Hempstead, NY 11550
Commercial Sale, Hempstead, NY
Property Size1,500 SF
Price / SF$216.67
Days on Market143
Property Features for 230 Hilton Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Directions
Google Maps
Standard status
Active
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3200
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Listing Agency:
Keller Williams Landmark II · Keller Williams Realty
(347) 846-1200
Listed By:
Vincent Thompson
(718) 749-9192
Added: Apr 23
Changed: Aug 19
Last Checked: Sep 12 at 8:06AM
MLS# 985196
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 approximately 1,500-square-foot medical office occupies the first floor at 230 Hilton Avenue. The layout includes a waiting and reception area, 9 rooms, and 2 baths, with elevator access serving the building. Central air and forced-air heating support year-round interior comfort. The property is currently operated as a Nurse Practitioner office and is configured for medical or professional services, including law, insurance, accounting, therapy, and wellness uses.
The building provides access to 200 parking spaces. Public water and public sewer serve the property, and the address is in Hempstead, Nassau County, New York. The combination of an established office layout, elevator service, climate control, and substantial building parking supports a range of office-based operations.
The building provides access to 200 parking spaces. Public water and public sewer serve the property, and the address is in Hempstead, Nassau County, New York. The combination of an established office layout, elevator service, climate control, and substantial building parking supports a range of office-based operations.
Key Highlights
- Approximately 1,500 sq ft of first‑floor medical office space
- Existing layout includes a waiting/reception area, 9 rooms, and 2 baths
- Elevator access and central air with forced‑air heating
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
$26,316
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
8.10%
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%
$526,320
$526.3K
Cap Rate 7%
$375,943
$375.9K
Cap Rate 9%
$292,400
$292.4K
Market Conditions
NOI Build-Up for 1,500 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
$50.9K $33.96/SF
− Vacancy
−$7.1K −$4.72/SF
EGI
$43.9K $29.24/SF
− OpEx
−$17.5K −$11.70/SF
NOI
$26.3K $17.54/SF
Area
Nassau County, NY
Vacancy
13.90%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
40.00%
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%
$526,320
Cap Rate 7%
$375,943
Cap Rate 9%
$292,400
Alternative Uses
Best Use
Healthcare Medical
$375.9K
$329.0K – $438.6K
NOI $26,316 @ 7.0% cap · market cap 8.10%
Second Best
Office B
$368.5K
$322.4K – $429.9K
NOI $25,793 @ 7.0% cap · market cap 7.94%
Theoretical Best
Specialty Retail
$991.8K
$867.8K – $1.16M
NOI $69,424 @ 7.0% cap · market cap 21.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,867
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11550, NY
61,901
Population
19,579
Households
3.2
Avg Household Size
36
Median Age
21%
College-Educated
77%
High-School Grad
4.2 sq mi
ZIP Area
14,738
Density / Sq Mi
$86,904
Median Household Income
$40,662
Median Earnings
$1,647
Median Rent
$446,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - First-floor space offers a reception area, multiple rooms, two baths, and climate control for medical or professional use.
Where is this medical office space located?
The property is located at 230 Hilton Avenue Hempstead, NY.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Approximately 1,500 sq ft of first‑floor medical office space; Existing layout includes a waiting/reception area, 9 rooms, and 2 baths; Elevator access and central air with forced‑air heating
