Professional Center with On-Site
120 West Park Avenue, Long Beach, NY 11561
For Sale
Contact for pricing
Turnkey professional center with renovated storefronts, flexible office or medical layouts, and on-site parking for occupants and visitors.
Property Size17,870 SF
Price / SF$290.99
Days on Market151
Property Features for 120 West Park Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Occupancy
Investment Type
Net Operating Income
Building Details
Year Built
Year Renovated
Stories
Tenancy
Listing Agency:
Real Estate Strategies Limited
Listed By:
Jordan Oliver · License #NY 10301216584
Source:
Crexi
Added: Jun 11
Changed: Nov 1
Last Checked: Nov 6 at 7:43AM
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 Real Estate Strategies Limited
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Investment Insights
Based on property information with market context.
The Island Professional Center at 120 West Park Avenue is offered as a 100% fee simple interest. The property is a commercial professional building with recent renovations that include new storefronts and updated building systems. Designed with flexible layouts, it can accommodate a range of uses, including office, medical, and spa and wellness. The offering also emphasizes a convenient, practical parking amenity on-site.
The location is directly opposite the LIRR station, providing seamless commuter access between Manhattan and Long Island. The property is also described as being just blocks from the ocean and the Long Beach Boardwalk. In addition, it is positioned near shops and dining, supporting day-to-day convenience for tenants and their clients.
For prospective buyers or operators, the combination of updated building systems and adaptable interior configurations supports multiple professional approaches within a single asset. The storefront upgrades and on-site parking are practical for organizations that rely on frequent customer or patient visits, while the proximity to transit can help support consistent access for staff and clients. This is a turnkey commercial property opportunity for those seeking a professional-center format with renovation activity already completed.
The location is directly opposite the LIRR station, providing seamless commuter access between Manhattan and Long Island. The property is also described as being just blocks from the ocean and the Long Beach Boardwalk. In addition, it is positioned near shops and dining, supporting day-to-day convenience for tenants and their clients.
For prospective buyers or operators, the combination of updated building systems and adaptable interior configurations supports multiple professional approaches within a single asset. The storefront upgrades and on-site parking are practical for organizations that rely on frequent customer or patient visits, while the proximity to transit can help support consistent access for staff and clients. This is a turnkey commercial property opportunity for those seeking a professional-center format with renovation activity already completed.
Key Highlights
- Commercial property built in 1962 at 120 W Park Avenue, Long Beach, NY
- Located directly opposite the LIRR station for commuter access to Manhattan and Long Island
- Recent renovations include new storefronts and updated building systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$313,507
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,270,140
$6.3M
Cap Rate 7%
$4,478,671
$4.5M
Cap Rate 9%
$3,483,411
$3.5M
Market Conditions
NOI Build-Up for 17,870 SF
Gross rent
$606.9K $33.96/SF
− Vacancy
−$84.4K −$4.72/SF
EGI
$522.5K $29.24/SF
− OpEx
−$209.0K −$11.70/SF
NOI
$313.5K $17.54/SF
Area
Nassau County, NY
Vacancy
13.90%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,270,140
Cap Rate 7%
$4,478,671
Cap Rate 9%
$3,483,411
Alternative Uses
Best Use
Healthcare Medical
$4.48M
$3.92M – $5.23M
NOI $313,507 @ 7.0% cap · market cap 6.03%
Second Best
Office B
$4.39M
$3.84M – $5.12M
NOI $307,282 @ 7.0% cap · market cap 5.91%
Theoretical Best
Specialty Retail
$11.82M
$10.34M – $13.78M
NOI $827,068 @ 7.0% cap · market cap 15.91%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,503
Businesses Nearby
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Business Placement
Demographics for 11561, NY
39,132
Population
18,442
Households
2.1
Avg Household Size
45
Median Age
53%
College-Educated
96%
High-School Grad
4.0 sq mi
ZIP Area
9,783
Density / Sq Mi
$132,903
Median Household Income
$72,221
Median Earnings
$2,462
Median Rent
$676,600
Median Home Value
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Market
Properties on Market for Office buildings in Nassau County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Turnkey professional center with renovated storefronts, flexible office or medical layouts, and on-site parking for occupants and visitors.
Where is this office building located?
The property is located at 120 West Park Avenue Long Beach, NY.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: Commercial property built in 1962 at 120 W Park Avenue, Long Beach, NY; Located directly opposite the LIRR station for commuter access to Manhattan and Long Island; Recent renovations include new storefronts and updated building systems
