Mineola Medical/Office Building For
For Sale
$2,550,000
156 1st St, Mineola, NY 11501
10,480 SF medical/office building in Mineola, NY for sale.
Property Size10,480 SF
Price / SF$243.32
Days on Market128
Property Features for 156 1st St
General Information
Standard status
Active
Size
10,480 SF
Class
B
Property subtype
office, medical
Listing Agency:
Melville
(631) 962-2896
Listed By:
Kyle Crennan · License #40CR1157702
(631) 962-2896
Source:
Property.jll
Added: Apr 15
Changed: Aug 9
Last Checked: Aug 20 at 4:25AM
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 Melville
Investment Insights
Based on property information with market context.
A commercial building in Mineola, New York, offers 10,480 square feet of space suitable for medical or general office use. The property is located at 156 1st St, Mineola, NY 11501.
Key Highlights
- 10,480 SF medical/office building
- Located in Mineola, NY
- For sale
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
$183,858
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
7.21%
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%
$3,677,160
$3.7M
Cap Rate 7%
$2,626,543
$2.6M
Cap Rate 9%
$2,042,867
$2.0M
Market Conditions
NOI Build-Up for 10,480 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
$355.9K $33.96/SF
− Vacancy
−$49.5K −$4.72/SF
EGI
$306.4K $29.24/SF
− OpEx
−$122.6K −$11.70/SF
NOI
$183.9K $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 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%
$3,677,160
Cap Rate 7%
$2,626,543
Cap Rate 9%
$2,042,867
Alternative Uses
Best Use
Healthcare Medical
$2.63M
$2.30M – $3.06M
NOI $183,858 @ 7.0% cap · market cap 7.21%
Second Best
Office B
$2.57M
$2.25M – $3.00M
NOI $180,208 @ 7.0% cap · market cap 7.07%
Theoretical Best
Specialty Retail
$6.93M
$6.06M – $8.08M
NOI $485,041 @ 7.0% cap · market cap 19.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,135
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11501, NY
21,189
Population
9,174
Households
2.3
Avg Household Size
42
Median Age
55%
College-Educated
88%
High-School Grad
2.0 sq mi
ZIP Area
10,595
Density / Sq Mi
$138,323
Median Household Income
$78,840
Median Earnings
$2,267
Median Rent
$627,200
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.
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- Mineola Animal Hospital — 132 Jericho Turnpike, Mineola, NY 11501
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Frequently Asked Questions
What type of property is this?
Medical Office Space - 10,480 SF medical/office building in Mineola, NY for sale.
Where is this medical office space located?
The property is located at 156 1st St Mineola, NY.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: 10,480 SF medical/office building; Located in Mineola, NY; For sale
