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    1438 Wantagh Ave 2 Wantagh, NY 11793

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    For Lease
    $13 SF/Yr $3,575/Mo (calc)

    3,300 SF space suitable for office, retail, or storage.

    Type:Commercial
    Property size:
    3,300 SF
    Added:
    Apr 24, 2026
    Days on Market:
    7
    Last Refresh:
    Apr 24 at 8:28 pm

    Property Features for 1438 Wantagh Ave 2

    General Information

    Standard status
    Active
    Size
    3,300 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1963

    We can help!

    Listing Contact
    Simran Bajaj

    Listing agent Simran Bajaj

    Listing office Realty Connect USA

    Listing date Apr 24, 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 Realty Connect USA

    Overview

    Wantagh Avenue Commercial Space Available

    This 3,300 sq. ft. second-floor commercial space is located in a standalone building on Wantagh Avenue. The space is suitable for office, e-commerce, retail or storage. It features dedicated double signage and is flooded with natural light. Amenities include a kitchenette, two half-baths, and central A/C. The unit is heated with efficient natural gas. Ample parking is available in both the front and rear of the building. The lease terms are flexible, and subleasing is permitted. The location has a bike score of 51, indicating it is bikeable, a walk score of 55, indicating it is somewhat walkable, and a transit score of 25, indicating some transit options are available.
    Location Intelligence

    Current Use by Public Records

    Fabric Warehouse (Bike/Boat/Book/etc) Store Emamuel Decorators & Upholsterers Furniture & Home Goods

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Wantagh
    County
    State
    New York
    Longitude
    -73.509507
    Latitude
    40.687969

    Nearby Similar for Lease

    • $14 SF/Yr

      Wantagh Commercial Space For Rent

      3,300 SF commercial space suitable for office, retail, or storage.
      1438 Wantagh Avenue, Wantagh, NY 11793
      View Details
    • Contact for pricing

      Retail Space in Wantagh

      Retail space available for lease in Cherrywood Shopping Center.
      1164 Wantagh Ave, Wantagh, NY 11793
      View Details
    • Contact for pricing

      Wantagh Avenue Office Space

      Office space available for rent in Wantagh, New York.
      628-650 Wantagh Ave, Wantagh, NY
      View Details
    • $35 SF/Yr

      Retail Space on Merrick Road

      Retail space with parking and high visibility on Merrick Road.
      3035-3045 Merrick Rd, Wantagh, NY
      View Details
    • Contact for pricing

      Wantagh Retail Space For Lease

      Retail spaces available for lease in Wantagh, New York.
      1906-1928 Wantagh Ave, Wantagh, NY 11793
      View Details

    FAQs

    What type of property is this?
    Office units - 3,300 SF space suitable for office, retail, or storage.
    Where is this office units located?
    The property is located at 1438 Wantagh Ave 2 Wantagh, NY.
    What is the lease rate?
    The lease rate is $13 SF/Yr.
    What are key features of this property?
    This property features: Prime 3,300 SF move‑in‑ready space suitable for office, e‑commerce, retail, or storage.; Located on high‑traffic Wantagh Avenue with exceptional visibility and dedicated double signage.; Rent of $3,750/month includes all taxes.
    (516) 225-9877
    We can help!
    Listing Contact
    Simran Bajaj
    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.

    More about this property
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