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    Hempstead Medical Office Condo Title is generated by Realmo AI

    230 Hilton Ave 207, Hempstead, NY 11550

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    For Sale
    $500,000

    Spacious medical office condo in Hempstead, Long Island.

    Type:Commercial
    Property size:
    1,800 SF
    Price / SF:
    $277/SF
    Added:
    May 9, 2026
    Days on Market:
    18
    Last Refresh:
    May 9 at 1:25 am

    Property Features for 230 Hilton Ave 207

    General Information

    Standard status
    Active
    Size
    1,800 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1984

    We can help!

    Listing Contact
    Tracy Tong

    Listing agent Tracy Tong

    Listing office Momentum Real Estate LLC

    Listing date May 9, 2026

    Source Elliman

    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 Momentum Real Estate LLC

    HighLights

    • Large 1,800 sq ft office space suitable for various professional uses.
    • Prime location in the heart of Hempstead, Long Island, with high walkability and good transit options.
    • Located inside a commercial office building with a receptionist and easy access via elevators.
    • HOA fee of $1,480/month includes all utilities.
    • Existing layout includes multiple patient rooms, storage, office, restrooms, and a reception area.
    • Large parking lot available for visitors.

    Overview

    This 1,800 square foot condo medical office is located on the second floor of a commercial office building in Hempstead, Long Island, directly across from the elevators. The unit features an entrance receptionist area and a large parking lot. Currently configured as a Holistic Family Health Consultant Certified Oncology Consultant's office, it includes five patient rooms, two storage rooms, an office, two restrooms, and a reception area. The Homeowner's Association fee is $1,480 per month, which includes all utilities. The property tax is $9,500 per year. The property is located in a very walkable area with a walk score of 89, a bikeable area with a bike score of 61, and good transit with a transit score of 62. The space can be adapted for various office uses, such as medical, accounting, insurance, or legal practices. Equipment is available for purchase at a negotiable price.

    Financial Insights

    Value Estimation Calculated for Healthcare Medical

    Conservative
    $350.9K
    NOI $31,579 @ 9.00% cap · cautious / downside scenario
    Moderate
    $451.1K
    NOI $31,579 @ 7.00% cap · market / base-case scenario
    Aggressive
    $631.6K
    NOI $31,579 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Healthcare Medical

    Component $ $/SF
    Gross rent $61.1k $33.96
    − Vacancy −$8.5k −$4.72
    EGI $52.6k $29.24
    − OpEx −$21.1k −$11.70
    NOI $31.6k $17.54
    1,800 SF · lease $33.96/SF/yr · vacancy 13.90% · expense 40.00%

    Alternative Use Scenarios

    Best Use
    Healthcare Medical
    $451.1K
    $394.7K – $526.3K (±1% cap)
    NOI $31,579 @ 7.0% cap · market cap 6.32%
    Second Best
    Office B
    $442.2K
    $386.9K – $515.9K (±1% cap)
    NOI $30,952 @ 7.0% cap · market cap 6.19%
    Theoretical Best
    Specialty Retail
    $1.19M
    $1.04M – $1.39M (±1% cap)
    NOI $83,309 @ 7.0% cap · market cap 16.66%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    JE Lund Jewelers (Bike/Boat/Book/etc) Store Melissa A. Nocella, PA Medical Clinic Coalition Wellness Center Medical Clinic Clark & Amadio PC Law Firm Cobert Banking Courier ... Bank

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Animal Hospital of Long Island — 28 Main St, Hempstead, NY 11550
    • Wesley Vet Clinic — 242 Oak St, West Hempstead, NY 11552
    • Alexandru Adrian — 28 Main St #1, Hempstead, NY 11550
    • Wayne's Pharmacy — 114 7th St, Garden City, NY 11530
    • Sound Diagnostics — 73 Brook St, Garden City, NY 11530

    Location Insight

    • Map
    • Local Demand
    City
    Hempstead
    County
    Nassau
    State
    New York
    Longitude
    -73.6337576
    Latitude
    40.7149304

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    FAQs

    What type of property is this?
    Medical Office Space - Spacious medical office condo in Hempstead, Long Island.
    Where is this medical office space located?
    The property is located at 230 Hilton Ave 207 Hempstead, NY.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: Large 1,800 sq ft office space suitable for various professional uses.; Prime location in the heart of Hempstead, Long Island, with high walkability and good transit options.; Located inside a commercial office building with a receptionist and easy access via elevators.
    (718) 382-0001
    We can help!
    Listing Contact
    Tracy Tong
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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