Office and Warehouse
For Sale
$6,800,000
1 Lexington Ave, Bethpage, NY 11714
Two-story office and warehouse building offering multiple office levels, dock and drive-in access, and up to 32-ft ceilings.
Property Size30,500 SF
Price / SF$222.95
Days on Market187
Property Features for 1 Lexington Ave
General Information
Standard status
Active
Size
30,500 SF
Total Parking Spaces
55
Property subtype
Warehouse
Warehouse & Industrial
Clear Height
32 ft
Dock-High Doors
2
Drive-In Doors
1
Additional Details
Highway Access
Yes
Amenities
electric car charging stations
elevator
walking distance to LIRR train station
Building Details
Stories
2
Listing Agency:
American Investment Properties
(516) 393-2300
Listed By:
Ron Koenigsberg · License #31K00933350
(516) 393-2300
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 21
Last Checked: Jul 23 at 5:57PM
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 American Investment Properties
Investment Insights
Based on property information with market context.
This two-story office and warehouse building includes 13,000 SF of warehouse space on the first floor, 2,500 SF of first-floor office space, and 15,000 SF of office space on the second floor. The building is supported by loading and access features including two dock doors, one drive-in door, and an elevator. Ceiling heights reach up to 32 feet.
The property includes on-site parking with 55 spaces and five electric car charging stations. It is within a 7-minute walk to the Bethpage LIRR Train Station and is located just west of the Seaford-Oyster Bay Expressway.
Overall, the layout combines warehouse functionality with office space across two levels, supported by multiple loading points and ample parking for day-to-day operations.
The property includes on-site parking with 55 spaces and five electric car charging stations. It is within a 7-minute walk to the Bethpage LIRR Train Station and is located just west of the Seaford-Oyster Bay Expressway.
Overall, the layout combines warehouse functionality with office space across two levels, supported by multiple loading points and ample parking for day-to-day operations.
Key Highlights
- Two‑story office & warehouse building in Bethpage, NY with 13,000 SF warehouse on the 1st floor plus office on both floors
- Office space totals 17,500 SF: 2,500 SF on the 1st floor and 15,000 SF on the 2nd floor
- Warehouse features include 2 dock doors, 1 drive‑in door, 1 elevator, and ceiling heights up to 32 ft
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
$530,030
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
7.79%
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%
$10,600,600
$10.6M
Cap Rate 7%
$7,571,857
$7.6M
Cap Rate 9%
$5,889,222
$5.9M
Market Conditions
NOI Build-Up for 30,500 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
$669.8K $21.96/SF
− Vacancy
−$46.2K −$1.52/SF
EGI
$623.6K $20.44/SF
− OpEx
−$93.5K −$3.07/SF
NOI
$530.0K $17.38/SF
Area
Nassau County, NY
Vacancy
6.90%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
15.00%
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%
$10,600,600
Cap Rate 7%
$7,571,857
Cap Rate 9%
$5,889,222
Alternative Uses
Best Use
Warehouse
$7.57M
$6.63M – $8.83M
NOI $530,030 @ 7.0% cap · market cap 7.79%
Second Best
Office B
$7.49M
$6.56M – $8.74M
NOI $524,460 @ 7.0% cap · market cap 7.71%
Theoretical Best
Specialty Retail
$20.17M
$17.65M – $23.53M
NOI $1,411,616 @ 7.0% cap · market cap 20.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
32 ft
Clear height
2
Dock-high doors
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
614
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11714, NY
22,989
Population
7,925
Households
2.9
Avg Household Size
45
Median Age
41%
College-Educated
94%
High-School Grad
4.2 sq mi
ZIP Area
5,474
Density / Sq Mi
$123,679
Median Household Income
$61,499
Median Earnings
$2,211
Median Rent
$586,400
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
- THE HARTIGAN HOUSE — 519 Central Ave, Bethpage, NY 11714
Frequently Asked Questions
What type of property is this?
Flex space - Two-story office and warehouse building offering multiple office levels, dock and drive-in access, and up to 32-ft ceilings.
Where is this flex space located?
The property is located at 1 Lexington Ave Bethpage, NY.
What is the asking price?
The asking price for this property is $6,800,000.
What are key features of this property?
This property features: Two‑story office & warehouse building in Bethpage, NY with 13,000 SF warehouse on the 1st floor plus office on both floors; Office space totals 17,500 SF: 2,500 SF on the 1st floor and 15,000 SF on the 2nd floor; Warehouse features include 2 dock doors, 1 drive‑in door, 1 elevator, and ceiling heights up to 32 ft
