Listing Agency: ACC Space Commercial Real Estate Show Phone

Listed By: Chip Entwistle · License #10301214444 Show Phone

Source: Moodyscre

Added: Jun 26, 2023 Changed: Oct 25 Last Checked: Nov 1 at 6:43AM

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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 / Yr

$38,105

Cap Rate

7.40%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$762,100 $762.1K

Cap Rate 7%

$544,357 $544.4K

Cap Rate 9%

$423,389 $423.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,216 SF

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 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. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

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

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