Turnkey Medical Office
For Sale
$499,000
101a-200 N Village Ave, Rockville Centre, NY 11570
Turnkey ground-level professional suite with private offices, reception, waiting area, and dedicated treatment space.
Property Size1,700 SF
Price / SF$293.53
Days on Market240
Property Features for 101a-200 N Village Ave
General Information
Standard status
Active
Size
1,700 SF
Additional Details
Business Included
Yes
Listing Agency:
Douglas Elliman Real Estate
(516) 669-3700
Listed By:
Jessica Hollenstein ABR CBR RSPS S
(516) 522-4969
Source:
Exprealty
Added: Jan 13
Changed: Sep 9
Last Checked: Sep 9 at 8:29PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This ground-level, double-entrance professional co-op suite offers a fully built-out, turnkey layout designed for day-to-day patient or client visits. The space totals 1,700 SF and includes seven private offices or treatment rooms, a reception office, a dedicated waiting area, two restrooms, and a storage room. Currently operating as a quiet therapy counseling office, the suite is presented as well maintained and ready for immediate occupancy.
The unit is located in an established, high-traffic area and benefits from strong visibility. Convenient on-street parking is available for clients and staff, supporting efficient access for scheduled appointments and walk-in visits.
With its mix of reception, waiting, treatment/private office rooms, and restrooms, the space is well aligned for attorneys and a broad range of medical and therapeutic uses such as therapy, psychiatry, and similar professional practices. Flexible use allows a new professional to customize the arrangement as needed, while keeping the existing professional infrastructure in place.
The unit is located in an established, high-traffic area and benefits from strong visibility. Convenient on-street parking is available for clients and staff, supporting efficient access for scheduled appointments and walk-in visits.
With its mix of reception, waiting, treatment/private office rooms, and restrooms, the space is well aligned for attorneys and a broad range of medical and therapeutic uses such as therapy, psychiatry, and similar professional practices. Flexible use allows a new professional to customize the arrangement as needed, while keeping the existing professional infrastructure in place.
Key Highlights
- 1,700 SF ground‑level professional co‑op with double‑entrance access
- Turnkey layout with seven private offices/treatment rooms plus reception and dedicated waiting area
- Includes two restrooms and a separate storage room
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
$29,824
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
5.98%
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%
$596,480
$596.5K
Cap Rate 7%
$426,057
$426.1K
Cap Rate 9%
$331,378
$331.4K
Market Conditions
NOI Build-Up for 1,700 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
$57.7K $33.96/SF
− Vacancy
−$8.0K −$4.72/SF
EGI
$49.7K $29.24/SF
− OpEx
−$19.9K −$11.70/SF
NOI
$29.8K $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%
$596,480
Cap Rate 7%
$426,057
Cap Rate 9%
$331,378
Alternative Uses
Best Use
Healthcare Medical
$426.1K
$372.8K – $497.1K
NOI $29,824 @ 7.0% cap · market cap 5.98%
Second Best
Office B
$417.6K
$365.4K – $487.2K
NOI $29,232 @ 7.0% cap · market cap 5.86%
Theoretical Best
Specialty Retail
$1.12M
$983.5K – $1.31M
NOI $78,680 @ 7.0% cap · market cap 15.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,856
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11570, NY
29,023
Population
11,368
Households
2.6
Avg Household Size
42
Median Age
62%
College-Educated
95%
High-School Grad
3.6 sq mi
ZIP Area
8,062
Density / Sq Mi
$147,784
Median Household Income
$91,332
Median Earnings
$1,804
Median Rent
$786,600
Median Home Value
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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 - Turnkey ground-level professional suite with private offices, reception, waiting area, and dedicated treatment space.
Where is this medical office space located?
The property is located at 101a-200 N Village Ave Rockville Centre, NY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 1,700 SF ground‑level professional co‑op with double‑entrance access; Turnkey layout with seven private offices/treatment rooms plus reception and dedicated waiting area; Includes two restrooms and a separate storage room
