Medical Office Space with
For Sale
$3,350,000
1061 N Broadway, Massapequa, NY 11758
Open-plan space includes bathrooms, sprinklers, CAC, and three-phase power.
Property Size12,780 SF
Days on Market9
Property Features for 1061 N Broadway
General Information
Standard status
Active
Size
12,780 SF
Total Parking Spaces
2
Property subtype
Commercial
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Gross Income
$359,584
Sprinkler System
Yes
Amenities
High 9' Ceilings
Bathrooms
3 Phase Power
All New LED Lighting
CAC
Building Details
Building Size
12,780 SF
Year Built
1969
Tenancy
Multi
Listing Agency:
All Island Estates Realty Corp
(516) 279-8828
Listed By:
Richard Matt Shane · License #10301216230
(516) 279-8828
Source:
Elliman
Added: Jul 30
Changed: Jul 31
Last Checked: Aug 7 at 3:33AM
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 All Island Estates Realty Corp
Investment Insights
Based on property information with market context.
This medical office property offers 4,600+ square feet with an open layout, high 9-foot ceilings, bathrooms, sprinklers, CAC, and all-new LED lighting. The configuration includes a 600-square-foot lower level, two parking spaces, and three-phase power, providing practical infrastructure for medical and professional office operations.
The property includes leased medical office space, including a gynecologist occupying 1,900 square feet through 12/31/27. Another lease covers the whole second floor, 800 square feet on the first floor, and 3,000 square feet in the lower level through 12/31/28, with one 5-year option and 3% annual increases. Tenants pay stated portions of tax increases above applicable base years.
The property includes leased medical office space, including a gynecologist occupying 1,900 square feet through 12/31/27. Another lease covers the whole second floor, 800 square feet on the first floor, and 3,000 square feet in the lower level through 12/31/28, with one 5-year option and 3% annual increases. Tenants pay stated portions of tax increases above applicable base years.
Key Highlights
- 4,600+ square feet of medical office and storefront space
- Open layout with high 9‑foot ceilings
- 600‑square‑foot lower level included
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
$253,082
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
7.55%
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%
$5,061,640
$5.1M
Cap Rate 7%
$3,615,457
$3.6M
Cap Rate 9%
$2,812,022
$2.8M
Market Conditions
NOI Build-Up for 12,780 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
$383.4K $30.00/SF
− Vacancy
−$21.9K −$1.71/SF
EGI
$361.5K $28.29/SF
− OpEx
−$108.5K −$8.49/SF
NOI
$253.1K $19.80/SF
Area
Nassau County, NY
Vacancy
5.70%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
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%
$5,061,640
Cap Rate 7%
$3,615,457
Cap Rate 9%
$2,812,022
Alternative Uses
Best Use
Retail
$3.62M
$3.16M – $4.22M
NOI $253,082 @ 7.0% cap · market cap 7.55%
Second Best
Healthcare Medical
$3.20M
$2.80M – $3.74M
NOI $224,209 @ 7.0% cap · market cap 6.69%
Theoretical Best
Specialty Retail
$8.45M
$7.39M – $9.86M
NOI $591,490 @ 7.0% cap · market cap 17.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
427
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Open-plan space includes bathrooms, sprinklers, CAC, and three-phase power.
Where is this medical office space located?
The property is located at 1061 N Broadway Massapequa, NY.
What is the asking price?
The asking price for this property is $3,350,000.
What are key features of this property?
This property features: 4,600+ square feet of medical office and storefront space; Open layout with high 9‑foot ceilings; 600‑square‑foot lower level included
