Two-Unit Corner Medical
For Sale
Contact for pricing
Pending
1298 Newbridge Road, Hempstead, NY 11710
Renovated two-unit corner building with high ceilings, commercial kitchen, bar, and CAC, plus 26 parking spaces.
Property Size3,780 SF
Days on Market371
Property Features for 1298 Newbridge Road
General Information
Standard status
Pending
Size
3,780 SF
Total Parking Spaces
26
Property subtype
Office
Building Details
Year Built
1908
Buildings
1
Stories
2
Listing Agency:
All Island Estates Realty Corporation
Listed By:
Matthew Shane · License #NY 10311207810
Source:
Crexi
Added: Sep 2, 2025
Changed: Aug 8
Last Checked: Jul 24 at 4:01PM
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 All Island Estates Realty Corporation
Investment Insights
Based on property information with market context.
This renovated two-unit corner building is available for sale and includes public assembly use. The property features high 16' ceilings, a commercial kitchen, and a fully functioning bar, with CAC and full sprinklering. Lighting has been updated with all-new LED fixtures, and the building was completely renovated in 2020.
The property is located on the corner of busy Newbridge Road and Frisch Place in the heart of Bellmore, providing strong visibility and access. It offers 26 parking spaces on-site and is currently home to a successful chiropractic wellness center, with the option to be delivered vacant if needed.
Surrounding retail and services include well-known neighbors such as Chase, Stop & Shop, Ace Hardware, Dunkin’, Rite Aid, 7-Eleven, Speedway, CVS, and Carvel.
The property is located on the corner of busy Newbridge Road and Frisch Place in the heart of Bellmore, providing strong visibility and access. It offers 26 parking spaces on-site and is currently home to a successful chiropractic wellness center, with the option to be delivered vacant if needed.
Surrounding retail and services include well-known neighbors such as Chase, Stop & Shop, Ace Hardware, Dunkin’, Rite Aid, 7-Eleven, Speedway, CVS, and Carvel.
Key Highlights
- Completely renovated in 2020, two‑unit corner commercial building originally built in 1908
- High 16’ ceilings with fully sprinklered interior and CAC
- Commercial kitchen plus fully functioning bar for public assembly use
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
$66,315
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
4.78%
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%
$1,326,300
$1.3M
Cap Rate 7%
$947,357
$947.4K
Cap Rate 9%
$736,833
$736.8K
Market Conditions
NOI Build-Up for 3,780 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
$128.4K $33.96/SF
− Vacancy
−$17.8K −$4.72/SF
EGI
$110.5K $29.24/SF
− OpEx
−$44.2K −$11.70/SF
NOI
$66.3K $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%
$1,326,300
Cap Rate 7%
$947,357
Cap Rate 9%
$736,833
Alternative Uses
Best Use
Healthcare Medical
$947.4K
$828.9K – $1.11M
NOI $66,315 @ 7.0% cap · market cap 4.78%
Second Best
Office B
$928.6K
$812.5K – $1.08M
NOI $64,999 @ 7.0% cap · market cap 4.68%
Theoretical Best
Specialty Retail
$2.50M
$2.19M – $2.92M
NOI $174,948 @ 7.0% cap · market cap 12.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
692
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11710, NY
35,155
Population
11,717
Households
3
Avg Household Size
43
Median Age
54%
College-Educated
97%
High-School Grad
4.9 sq mi
ZIP Area
7,174
Density / Sq Mi
$173,136
Median Household Income
$76,812
Median Earnings
$2,495
Median Rent
$647,000
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?
Medical Office Space - Renovated two-unit corner building with high ceilings, commercial kitchen, bar, and CAC, plus 26 parking spaces.
Where is this medical office space located?
The property is located at 1298 Newbridge Road Hempstead, NY.
What is the asking price?
The asking price for this property is $1,388,000.
What are key features of this property?
This property features: Completely renovated in 2020, two‑unit corner commercial building originally built in 1908; High 16’ ceilings with fully sprinklered interior and CAC; Commercial kitchen plus fully functioning bar for public assembly use
