Versatile Hicksville Office
For Sale
$1,149,000
Pending
15 E Carl St, Hicksville, NY 11801
Three-story commercial office building in prime Hicksville location for sale.
Property Size2,620 SF
Lot Size0.11 Acres
Days on Market164
Property Features for 15 E Carl St
General Information
Standard status
Pending
Size
2,620 SF
Lot size
0.11 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$17,056
Building Details
Building Size
2,620 SF
Year Built
1900
Listing Agency:
(516) 754-3020
Listed By:
Bhavik Acharya
(516) 754-3020
Source:
Elliman
Added: Mar 12
Changed: Aug 19
Last Checked: Aug 21 at 8:09AM
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 Bhavik Acharya
Investment Insights
Based on property information with market context.
This three-story commercial office building with a full basement offers 3,600 sq ft of flexible space. The property is suitable for professional, medical, law office, physical therapist, or other service-based businesses. It features a well-maintained exterior with stone and siding accents, and ample natural light throughout. The layout supports both private offices and open workspaces, and includes an office-style kitchen. Private on-site parking is available in the rear. Located in a prime Hicksville location near major roadways, retail centers, and transportation, the building offers visibility and accessibility. The first floor and basement are also available for lease. The building can be delivered vacant or with a paying tenant on the second floor.
Key Highlights
- Prime Hicksville location with excellent visibility and accessibility.
- Private on‑site parking in the rear for clients and staff.
- 3,600 sq ft of flexible space suitable for various businesses.
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
$61,903
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
5.39%
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%
$1,238,060
$1.2M
Cap Rate 7%
$884,329
$884.3K
Cap Rate 9%
$687,811
$687.8K
Market Conditions
NOI Build-Up for 3,600 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
$100.7K $27.96/SF
− Vacancy
−$18.1K −$5.03/SF
EGI
$82.5K $22.93/SF
− OpEx
−$20.6K −$5.73/SF
NOI
$61.9K $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%
$1,238,060
Cap Rate 7%
$884,329
Cap Rate 9%
$687,811
Alternative Uses
Best Use
Office B
$884.3K
$773.8K – $1.03M
NOI $61,903 @ 7.0% cap · market cap 5.39%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.38M
$2.08M – $2.78M
NOI $166,617 @ 7.0% cap · market cap 14.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,495
Businesses Nearby
Explore this area
Business Placement
Demographics for 11801, NY
41,779
Population
13,068
Households
3.2
Avg Household Size
42
Median Age
44%
College-Educated
92%
High-School Grad
6.7 sq mi
ZIP Area
6,236
Density / Sq Mi
$147,945
Median Household Income
$54,052
Median Earnings
$2,992
Median Rent
$611,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Three-story commercial office building in prime Hicksville location for sale.
Where is this office building located?
The property is located at 15 E Carl St Hicksville, NY.
What is the asking price?
The asking price for this property is $1,149,000.
What are key features of this property?
This property features: Prime Hicksville location with excellent visibility and accessibility.; Private on‑site parking in the rear for clients and staff.; 3,600 sq ft of flexible space suitable for various businesses.
