Built-Out Office
For Sale
Contact for pricing
950 Jericho Tpke, Westbury, NY 11590
Two floors offer fully built-out office space with strong signage and visibility on Jericho Turnpike.
Property Size6,150 SF
Price / SF$235.77
Days on Market539
Property Features for 950 Jericho Tpke
General Information
Standard status
Active
Size
6,150 SF
Property subtype
OFFICE
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
Brown Harris Stevens Commercial Real Estate, LLC
(516) 203-8100
Listed By:
David B. Sargoy
(917) 805-6441
Source:
Moodyscre
Added: Mar 26, 2025
Changed: Sep 6
Last Checked: Sep 14 at 7:52AM
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 Brown Harris Stevens Commercial Real Estate, LLC
Investment Insights
Based on property information with market context.
This property presents a fully built-out office configuration with multiple floor levels. Floor 1 currently includes four tenants operating on month-to-month terms. Floor 2 is a walk-up space with a single tenant and a private entrance, also on month-to-month terms.
The building benefits from excellent signage and visibility along heavily trafficked Jericho Turnpike. It also offers easy access from the Long Island Expressway and Northern State Parkway, supporting convenient arrival for staff and visitors. The seller can deliver the building vacant, if desired.
The building benefits from excellent signage and visibility along heavily trafficked Jericho Turnpike. It also offers easy access from the Long Island Expressway and Northern State Parkway, supporting convenient arrival for staff and visitors. The seller can deliver the building vacant, if desired.
Key Highlights
- Fully built‑out two‑floor office space with floor 1 and floor 2 walk‑up access
- 4 tenants on a month‑to‑month basis; building can be delivered vacant
- Floor 2 is a single tenant with a private entrance and month‑to‑month arrangement
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
$105,752
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
7.29%
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%
$2,115,040
$2.1M
Cap Rate 7%
$1,510,743
$1.5M
Cap Rate 9%
$1,175,022
$1.2M
Market Conditions
NOI Build-Up for 6,150 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
$172.0K $27.96/SF
− Vacancy
−$31.0K −$5.03/SF
EGI
$141.0K $22.93/SF
− OpEx
−$35.3K −$5.73/SF
NOI
$105.8K $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%
$2,115,040
Cap Rate 7%
$1,510,743
Cap Rate 9%
$1,175,022
Alternative Uses
Best Use
Office B
$1.51M
$1.32M – $1.76M
NOI $105,752 @ 7.0% cap · market cap 7.29%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.07M
$3.56M – $4.74M
NOI $284,637 @ 7.0% cap · market cap 19.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
860
Businesses Nearby
Explore this area
Business Placement
Demographics for 11590, NY
47,838
Population
15,497
Households
3.1
Avg Household Size
40
Median Age
40%
College-Educated
87%
High-School Grad
6.7 sq mi
ZIP Area
7,140
Density / Sq Mi
$149,250
Median Household Income
$56,520
Median Earnings
$2,209
Median Rent
$616,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office units - Two floors offer fully built-out office space with strong signage and visibility on Jericho Turnpike.
Where is this office units located?
The property is located at 950 Jericho Tpke Westbury, NY.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Fully built‑out two‑floor office space with floor 1 and floor 2 walk‑up access; 4 tenants on a month‑to‑month basis; building can be delivered vacant; Floor 2 is a single tenant with a private entrance and month‑to‑month arrangement
