Mixed-Use Retail and Office
For Sale
$1,600,000
118-122 Hillside Avenue, Williston Park, NY 11596
Versatile storefront and office layout with multiple private rooms and unfinished basement for storage or expansion.
Property Size5,580 SF
Price / SF$286.74
Days on Market99
Property Features for 118-122 Hillside Avenue
General Information
Standard status
Active
Size
5,580 SF
Net Operating Income
$75,000
Taxes and HOA fees
Annual Taxes
$45,000
Amenities
Accessible Common Area, Accessible Entrance
Central Air, Wall/Window Unit(s)
Baseboard, Forced Air, Natural Gas, Oil
Finished, Unfinished, Walk-Out Access
On Street, Open
Building Details
Building Size
5,580 SF
Year Built
1950
Buildings
1
Stories
1
Listing Agency:
Laffey International Realt Estate
Listed By:
Catherine Lattuca
(516) 996-7581
Source:
Evrealestate
Added: May 28
Changed: Aug 25
Last Checked: Sep 2 at 4:41PM
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 Laffey International Realt Estate
Investment Insights
Based on property information with market context.
118-122 Hillside Avenue is a mixed-use commercial building designed to support both retail storefront activity and professional office use. The property includes approximately 5,580 square feet with three oversized storefront windows and high ceilings, along with multiple private offices, a reception area, conference area, and bathrooms. A large unfinished basement provides additional storage and can support future build-out needs.
The building is positioned for strong visibility on a heavily traveled main road, with meaningful pedestrian traffic in the surrounding business district. The remarks also note nearby restaurants, boutique shopping, banks, and neighborhood services, with the LIRR described as just moments away.
The interior configuration lends itself to a range of tenant types, including medical, professional, retail, and mixed-use operations. The layout includes offices, reception/conference space, and restroom facilities, along with basement space referenced for storage and flexibility. The building’s described service-tenant setups, including spaces identified for karate, dance, and tailoring, reflect an adaptable format for businesses that need both customer-facing storefront presence and back-office or work areas.
The building is positioned for strong visibility on a heavily traveled main road, with meaningful pedestrian traffic in the surrounding business district. The remarks also note nearby restaurants, boutique shopping, banks, and neighborhood services, with the LIRR described as just moments away.
The interior configuration lends itself to a range of tenant types, including medical, professional, retail, and mixed-use operations. The layout includes offices, reception/conference space, and restroom facilities, along with basement space referenced for storage and flexibility. The building’s described service-tenant setups, including spaces identified for karate, dance, and tailoring, reflect an adaptable format for businesses that need both customer-facing storefront presence and back-office or work areas.
Key Highlights
- Mixed‑use commercial building built in 1950 at 118‑122 Hillside Avenue with approx. 5,580 SF retail/office space
- 3 oversized storefront windows and high ceilings with a versatile retail/office layout
- Multiple private offices plus reception and conference areas
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
$110,501
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
6.91%
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%
$2,210,020
$2.2M
Cap Rate 7%
$1,578,586
$1.6M
Cap Rate 9%
$1,227,789
$1.2M
Market Conditions
NOI Build-Up for 5,580 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
$167.4K $30.00/SF
− Vacancy
−$9.5K −$1.71/SF
EGI
$157.9K $28.29/SF
− OpEx
−$47.4K −$8.49/SF
NOI
$110.5K $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%
$2,210,020
Cap Rate 7%
$1,578,586
Cap Rate 9%
$1,227,789
Alternative Uses
Best Use
Retail
$1.58M
$1.38M – $1.84M
NOI $110,501 @ 7.0% cap · market cap 6.91%
Second Best
Office B
$1.37M
$1.20M – $1.60M
NOI $95,950 @ 7.0% cap · market cap 6.00%
Theoretical Best
Specialty Retail
$3.69M
$3.23M – $4.30M
NOI $258,256 @ 7.0% cap · market cap 16.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,918
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11596, NY
10,849
Population
3,450
Households
3.1
Avg Household Size
44
Median Age
56%
College-Educated
95%
High-School Grad
1.3 sq mi
ZIP Area
8,345
Density / Sq Mi
$162,026
Median Household Income
$78,858
Median Earnings
$2,102
Median Rent
$801,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
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Similar Off Market Nearby
- James Anthony Floral — 265 Horton Hwy, Mineola, NY 11501
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Frequently Asked Questions
What type of property is this?
Storefront property - Versatile storefront and office layout with multiple private rooms and unfinished basement for storage or expansion.
Where is this storefront property located?
The property is located at 118-122 Hillside Avenue Williston Park, NY.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Mixed‑use commercial building built in 1950 at 118‑122 Hillside Avenue with approx. 5,580 SF retail/office space; 3 oversized storefront windows and high ceilings with a versatile retail/office layout; Multiple private offices plus reception and conference areas
