Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Office Space with Fitness Center Title is generated by Realmo AI

    1983 Marcus Ave North, Hempstead, NY

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Office spaces available with fitness center and underground parking.

    Type:OFFICE
    Property size:
    3,086 SF
    Lot size:
    7.51 Acres
    Added:
    Mar 29, 2023
    Days on Market:
    1165
    Last Refresh:
    May 19 at 9:24 pm

    Property Features for 1983 Marcus Ave North

    General Information

    Standard status
    Active
    Size
    3,086 SF
    Lot size
    7.51 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 1983 Marcus Ave North Contact us

    We can help!

    Listing Contact
    Darren Leiderman
    Darren Leiderman

    Listing agent Darren Leiderman

    Listing office Colliers | Long Island

    Listing date Mar 29, 2023

    Source Moodyscre

    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 Colliers | Long Island

    HighLights

    • Flexible divisions of space available.
    • Convenient access to major highways.
    • Significant square footage available on multiple floors (1st, 2nd, and Concourse).
    • On‑site amenities including an ATM and café.
    • 8,000 SF Fitness Center in building.
    • Underground parking.

    Overview

    Office spaces are available on the 1st floor with sizes including 1,573 SF, 1,450 SF, 17,168 SF, 1,749 SF, 5,194 SF, 2,682 SF, and 3,879 SF. The 2nd floor offers a 20,122 SF space. Concourse level spaces include 1,117 SF, 3,600 SF, 4,836 SF, 11,080 SF, and 3,086 SF, with the latter potentially combinable with an additional 3,000 square foot space. The location provides convenient access to major highways. Building amenities include an ATM, a café, and an 8,000 SF fitness center. Underground parking is available. Flexible divisions are possible within the spaces.
    Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hempstead
    County
    Nassau
    State
    New York
    Longitude
    -73.6225
    Latitude
    40.7133

    Nearby Similar for Lease

    • $3,500/Mo

      Turnkey Office Suite with Reception

      Fully renovated office space with reception, private rooms, dedicated office, and separate break area for immediate use.
      72 Fulton Avenue, Hempstead, NY 11550
      View Details
    • $5,500/Mo
      2,575 SF

      Hempstead Office Space For Rent

      2,575 SF office space with private entrance available for rent.
      218 Front Street, Hempstead, NY 11550
      View Details
    • $9,999/Mo
      3,000 SF

      Hempstead Showroom/Storage Space Available

      3,000 SF showroom/storage space in high-traffic Hempstead location.
      218 Front Street, Hempstead, NY 11550
      View Details
    • $3,500/Mo

      Commercial Space in Hempstead, NY

      Versatile commercial space for rent in central Hempstead location.
      72 Fulton Avenue, Hempstead, NY 11550
      View Details
    • $2,300/Mo
      700 SF

      Prime Retail Space in Hempstead

      700 sq ft retail space with high visibility.
      369 Peninsula Blvd Floor 2, Hempstead, NY 11550
      View Details
    • $2,800/Mo

      Storefront in Busy Hempstead Area

      Storefront opportunity in a busy area with basement storage.
      105 Westbury Boulevard, Hempstead, NY 11550
      View Details
    • $9,999/Mo
      3,000 SF

      Hempstead Showroom/Storage Space For Rent

      3,000 SF showroom/storage space in central Hempstead location.
      218 Front St, Hempstead, NY 11550
      View Details
    • $3,700/Mo

      Renovated Commercial Space on Fulton

      Turnkey office space in prime location with excellent accessibility.
      72 Fulton Ave, Hempstead, NY 11550
      View Details
    • $25 SF/Yr
      5,500 SF

      Long Island Warehouse Opportunity

      Warehouse space near Roosevelt Field Mall with flexible layout.
      603 Chestnut Street, Hempstead, NY 11530
      View Details
    • $44 SF/Yr
      2,349 SF

      High-Visibility Commercial Space Available

      Prime location with high traffic and private parking.
      1717 Hempstead Turnpike, Hempstead, NY 11003
      View Details
    • $2,750/Mo
      800 SF

      Move-in Ready Commercial Space

      Second-floor commercial space with private offices and excellent visibility.
      32 Main St, Hempstead, NY
      View Details
    • $23 SF/Yr

      East Meadow Office/Retail Space

      High-traffic location ideal for office or retail use.
      2242 Hempstead Turnpike, North Hempstead, NY 11554
      View Details

    FAQs

    What type of property is this?
    Office units - Office spaces available with fitness center and underground parking.
    Where is this office units located?
    The property is located at 1983 Marcus Ave North Hempstead, NY.
    What is the lease rate?
    The lease rate is $27 SF/Yr.
    What are key features of this property?
    This property features: Flexible divisions of space available.; Convenient access to major highways.; Significant square footage available on multiple floors (1st, 2nd, and Concourse).
    (516) 445-2186 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Darren Leiderman
    Darren Leiderman
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1983 Marcus Ave, North Hempstead, NY
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!