Medical Office Space with Open
For Sale
$3,350,000
1061 N Broadway, Massapequa, NY 11758
The space has 9-foot ceilings, restrooms, central air conditioning, and three-phase power.
Property Size12,780 SF
Price / SF$262.13
Days on Market88
Property Features for 1061 N Broadway
General Information
Standard status
Active
Size
12,780 SF
Total Parking Spaces
26
Property subtype
Commercial
Zoning
465.14
Net Operating Income
$262,058
Financials
Cap Rate
7.82%
Gross Income
$359,584
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Sprinkler System
Yes
Tenant in Place
Yes
Property Use
Medical Office
Medical Specialty
gynecologist
Taxes and HOA fees
Annual Taxes
$86,425
Amenities
High 9' Ceilings
Bathrooms
3 Phase Power
All New LED Lighting
CAC
Building Details
Building Size
12,780 SF
Year Built
1969
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
All Island Estates Realty Corp
(516) 783-5600
Listed By:
Richard Matt Shane · License #1020151
(516) 279-8828
Source:
Croninreale
Added: Jul 29
Changed: Oct 23
Last Checked: Oct 23 at 9:50AM
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
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Investment Insights
Based on property information with market context.
This medical office space features an open-plan configuration, 9-foot ceilings, restrooms, and a sprinkler system. Building features include central air conditioning, three-phase power, updated LED lighting, and two parking spaces. A 600-square-foot lower level is also noted.
Key Highlights
- Open layout suited to medical office use
- 9‑foot ceilings, restrooms, and sprinkler system
- 600‑square‑foot lower level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$253,082
Cap Rate
7.55%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
486
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
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Medical Office Space - The space has 9-foot ceilings, restrooms, central air conditioning, 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: Open layout suited to medical office use; 9‑foot ceilings, restrooms, and sprinkler system; 600‑square‑foot lower level
