Listing Agency: ACC Space Commercial Real Estate Show Phone

Listed By: Chip Entwistle · License #10301214444 Show Phone

Source: Moodyscre

Added: Jun 26, 2023 Changed: Sep 3 Last Checked: Sep 13 at 10:58AM

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Investment Insights

Based on property information with market context.

This meticulously maintained office building offers excellent visibility and signage. The property features a finished basement with a separate entry. A convenient parking layout is available. The building is located close to Meadowbrook State Parkway, Nassau University Hospital, Eisenhower Park, Nassau Coliseum, and Roosevelt Field Mall. The property size is 2216 square feet.

Key Highlights

• Excellent visibility & signage
• Meticulously maintained
• Finished basement w/ sep entry

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

$38,105

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

7.40%

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%

$762,100 $762.1K

Cap Rate 7%

$544,357 $544.4K

Cap Rate 9%

$423,389 $423.4K

Market Conditions

NOI Build-Up for 2,216 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

$62.0K $27.96/SF

− Vacancy

−$11.2K −$5.03/SF

EGI

$50.8K $22.93/SF

− OpEx

−$12.7K −$5.73/SF

NOI

$38.1K $17.20/SF

Area

Nassau County, NY

Vacancy

18.00%

Lease Rate

$27.96 /SF/Yr

Expense Ratio

25.00%

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%

$762,100

Cap Rate 7%

$544,357

Cap Rate 9%

$423,389

Alternative Uses

Best Use

Office B

$544.4K

$476.3K – $635.1K (±1% cap)

NOI $38,105 @ 7.0% cap · market cap 7.40%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$1.47M

$1.28M – $1.71M (±1% cap)

NOI $102,562 @ 7.0% cap · market cap 19.91%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

B. M. Mittman, ... Law Firm

Suggested Use

Top Pick Hair Salon Auto Parts Store Pharmacy Big Box & Wholesale Store Restaurant Real Estate Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

997

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this office buildings located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Office building - Well-maintained office building with finished basement and convenient parking.

Where is this office building located?

The property is located at 1778 Hempstead Tpke E Meadow, NY.

What is the asking price?

The asking price for this property is $515,000.

What are key features of this property?

This property features: Excellent visibility & signage; Meticulously maintained; Finished basement w/ sep entry