Multi-Suite Professional Office
For Sale
$1,600,000
146 E 2nd St, Mineola, NY 11501
Professional office configuration includes reception, private suites, flexible workspace, conference facilities, and an employee kitchen.
Property Size4,200 SF
Days on Market10
Property Features for 146 E 2nd St
General Information
Standard status
Active
Size
4,200 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$23,184
Amenities
waiting area
conference room
kitchen
Building Details
Building Size
4,200 SF
Year Built
1954
Buildings
1
Listing Agency:
Douglas Elliman Real Estate
(516) 327-6261
Listed By:
Joseph Albano · License #30AL0910178
(516) 327-6261
Source:
Elliman
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 29 at 9:11AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
Built in 1954, this office building is arranged for professional business use with a reception and waiting area, multiple office suites, and a larger open workspace that can be configured according to operational needs. A conference room and employee kitchen add practical support areas for day-to-day use.
The property is located at 146 E 2nd Street in Mineola, New York. Its combination of enclosed offices, flexible open area, meeting space, and staff facilities provides a varied office layout within an established building.
The property is located at 146 E 2nd Street in Mineola, New York. Its combination of enclosed offices, flexible open area, meeting space, and staff facilities provides a varied office layout within an established building.
Key Highlights
- Professional office building at 146 E 2nd Street, Mineola, NY 11501
- Multiple office suites with reception and waiting area
- Large open office area for flexible configuration
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
$72,221
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
4.51%
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%
$1,444,420
$1.4M
Cap Rate 7%
$1,031,729
$1.0M
Cap Rate 9%
$802,456
$802.5K
Market Conditions
NOI Build-Up for 4,200 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
$117.4K $27.96/SF
− Vacancy
−$21.1K −$5.03/SF
EGI
$96.3K $22.93/SF
− OpEx
−$24.1K −$5.73/SF
NOI
$72.2K $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%
$1,444,420
Cap Rate 7%
$1,031,729
Cap Rate 9%
$802,456
Alternative Uses
Best Use
Office B
$1.03M
$902.8K – $1.20M
NOI $72,221 @ 7.0% cap · market cap 4.51%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.78M
$2.43M – $3.24M
NOI $194,387 @ 7.0% cap · market cap 12.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,635
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Office building - Professional office configuration includes reception, private suites, flexible workspace, conference facilities, and an employee kitchen.
Where is this office building located?
The property is located at 146 E 2nd St Mineola, NY.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Professional office building at 146 E 2nd Street, Mineola, NY 11501; Multiple office suites with reception and waiting area; Large open office area for flexible configuration
