Mixed-Use Building with
For Sale
$1,600,000
118-122 Hillside Avenue, Williston Park, NY 11596
Commercial Sale, Williston Park, NY
Property Size5,580 SF
Lot Size0.15 Acres
Price / SF$286.74
Days on Market100
Property Features for 118-122 Hillside Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking features
On Street, Open
Basement
Finished, Walk-Out Access, Unfinished
Lot features
Near Public Transit
Elementary school
Hampton Street School
Middle school
Mineola Middle School
High school
Mineola High School
Elementary school district
Mineola
Middle school district
Mineola
High school district
Mineola
Standard status
Active
APN
2257-09-205-00-0266-0
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
45000
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas, Baseboard, Oil
Cooling system
Central Air, Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
3 oversized storefront windows
high ceilings
multiple private offices
reception and conference areas
bathrooms
large unfinished basement
Building Details
Year built
1950
Floors in Building
1
Number of units
3
Flooring type
Laminate, Combination, Hardwood
Building materials
Advanced Framing Technique
Listing Agency:
BERKSHIRE HATHAWAY · Berkshire Hathaway HomeServices
(516) 741-3070
Listed By:
Catherine Lattuca
(516) 996-7581
Added: May 25
Changed: Aug 19
Last Checked: Sep 1 at 3:06AM
MLS# 1004674
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.
The mixed-use building at 118-122 Hillside Avenue contains approximately 5,580 square feet of retail and office space. Its configuration includes three oversized storefront windows, high ceilings, private offices, reception and conference areas, bathrooms, and a basement. Flooring includes laminate, hardwood, and combination surfaces. The property was built in 1950 and has forced-air, baseboard, and natural-gas heating options, along with central air and wall or window cooling units.
Situated on a main road in Williston Park’s business district, the property is surrounded by restaurants, boutique shops, banks, and neighborhood services. Pedestrian activity and proximity to the LIRR add to its access profile. Public water and public sewer serve the property, with on-street and open parking available.
Situated on a main road in Williston Park’s business district, the property is surrounded by restaurants, boutique shops, banks, and neighborhood services. Pedestrian activity and proximity to the LIRR add to its access profile. Public water and public sewer serve the property, with on-street and open parking available.
Key Highlights
- Approximately 5,580 square feet of retail and office space
- Three oversized storefront windows and high ceilings
- Private offices, reception area, 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
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,918
Businesses Nearby
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible retail and office layout includes private offices, reception space, conference areas, and multiple bathrooms.
Where is this mixed-use 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: Approximately 5,580 square feet of retail and office space; Three oversized storefront windows and high ceilings; Private offices, reception area, and conference areas
