Auto Shop With Office
For Sale
$1,400,000
120 2ND ST, New Hyde Park, NY 11040
Automotive facility includes separate collision and mechanical work areas.
Property Size3,036 SF
Price / SF$461.13
Days on Market88
Property Features for 120 2ND ST
General Information
Standard status
Active
Size
3,036 SF
Property subtype
Industrial
Additional Details
Service Bays
4
Taxes and HOA fees
Annual Taxes
$20,183
Amenities
Full Basement
Restrooms
Professional Office with Private Entrance
3
Building Details
Buildings
1
Listing Agency:
(516) 974-4265
Listed By:
Keller Williams Points North
(516) 974-4265
Source:
Xome
Added: Jun 3
Changed: Aug 28
Last Checked: Aug 28 at 7:00AM
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 Keller Williams Points North
Investment Insights
Based on property information with market context.
This 3,036-square-foot automotive property is configured for both collision repair and mechanical service. The layout includes two large mechanical bays, two collision bays, and two overhead doors serving the collision area. A professional office with its own private entrance supports administrative or customer-facing functions.
Additional improvements include a full basement for storage and two restrooms. The building is described as well maintained throughout and offers access to major routes in New Hyde Park, New York. The property is located at 120 2nd St, New Hyde Park, NY 11040.
Additional improvements include a full basement for storage and two restrooms. The building is described as well maintained throughout and offers access to major routes in New Hyde Park, New York. The property is located at 120 2nd St, New Hyde Park, NY 11040.
Key Highlights
- 3,036‑square‑foot automotive property
- Separate collision and mechanical operating areas
- Two large mechanical bays
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
$60,122
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
4.29%
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%
$1,202,440
$1.2M
Cap Rate 7%
$858,886
$858.9K
Cap Rate 9%
$668,022
$668.0K
Market Conditions
NOI Build-Up for 3,036 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
$91.1K $30.00/SF
− Vacancy
−$5.2K −$1.71/SF
EGI
$85.9K $28.29/SF
− OpEx
−$25.8K −$8.49/SF
NOI
$60.1K $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%
$1,202,440
Cap Rate 7%
$858,886
Cap Rate 9%
$668,022
Alternative Uses
Best Use
Retail
$858.9K
$751.5K – $1.00M
NOI $60,122 @ 7.0% cap · market cap 4.29%
Second Best
Office B
$745.8K
$652.6K – $870.1K
NOI $52,205 @ 7.0% cap · market cap 3.73%
Theoretical Best
Specialty Retail
$2.01M
$1.76M – $2.34M
NOI $140,514 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Service bays
Location Intelligence
Trade Area within ½ mile
1,224
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11040, NY
43,075
Population
14,608
Households
2.9
Avg Household Size
45
Median Age
56%
College-Educated
92%
High-School Grad
4.8 sq mi
ZIP Area
8,974
Density / Sq Mi
$153,511
Median Household Income
$70,649
Median Earnings
$2,388
Median Rent
$795,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Burnham's Shop — 44 Nassau Terminal Rd, New Hyde Park, NY 11040
- Sambucci Bros Auto Salvage — 1 Denton Ave S, Garden City Park, NY 11040
- K A W Auto Repair — 1 Denton Ave, Garden City Park, NY 11040
- Alfredo The Mechanic Inc Auto Repair — New Hyde Park, NY 11040
- A-Spec Performance — 50 Nassau Terminal Rd, New Hyde Park, NY 11040
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive facility includes separate collision and mechanical work areas.
Where is this auto shop located?
The property is located at 120 2ND ST New Hyde Park, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 3,036‑square‑foot automotive property; Separate collision and mechanical operating areas; Two large mechanical bays
