Renovated Office
For Sale
$149,000
15-230 Hilton Ave, Hempstead, NY 11550
Lower-level suite with reception, private office, elevator access, and a shared conference room.
Property Size412 SF
Price / SF$361.65
Days on Market33
Property Features for 15-230 Hilton Ave
General Information
Standard status
Active
Size
412 SF
Elevators
Yes
Additional Details
Floor
Lower-Level
HOA Fee
$464
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,048
Amenities
Security
Cellphone App Video Intercom System
Common Conference room
Listing Agency:
Realty Connect USA LLC
(516) 675-8000
Listed By:
Manmeet S. Bajaj
(516) 675-8000
Source:
Exprealty
Added: Jul 9
Changed: Aug 9
Last Checked: Aug 9 at 10:54AM
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 LLC
Investment Insights
Based on property information with market context.
This approximately 412-square-foot lower-level office condominium has been fully renovated and arranged with a waiting and reception area plus a dedicated office. The unit is located within a building offering elevator service, security, and a cellphone app-based video intercom system. A shared conference room is available on the same floor.
Building services include landscaping, maintenance, heating, water, and sewer. The property includes access to parking and is positioned 0.9 mile from the Garden City LIRR Train Station, near the border of Garden City Village in Hempstead.
Building services include landscaping, maintenance, heating, water, and sewer. The property includes access to parking and is positioned 0.9 mile from the Garden City LIRR Train Station, near the border of Garden City Village in Hempstead.
Key Highlights
- Approximately 412 sq ft of renovated lower‑level office space
- Waiting room and reception area with a separate office
- Elevator building with security and cellphone app video intercom
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
$7,085
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
4.76%
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%
$141,700
$141.7K
Cap Rate 7%
$101,214
$101.2K
Cap Rate 9%
$78,722
$78.7K
Market Conditions
NOI Build-Up for 412 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
$11.5K $27.96/SF
− Vacancy
−$2.1K −$5.03/SF
EGI
$9.4K $22.93/SF
− OpEx
−$2.4K −$5.73/SF
NOI
$7.1K $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%
$141,700
Cap Rate 7%
$101,214
Cap Rate 9%
$78,722
Alternative Uses
Best Use
Office B
$101.2K
$88.6K – $118.1K
NOI $7,085 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$272.4K
$238.4K – $317.8K
NOI $19,068 @ 7.0% cap · market cap 12.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,867
Businesses Nearby
Explore this area
Business Placement
Demographics for 11550, NY
61,901
Population
19,579
Households
3.2
Avg Household Size
36
Median Age
21%
College-Educated
77%
High-School Grad
4.2 sq mi
ZIP Area
14,738
Density / Sq Mi
$86,904
Median Household Income
$40,662
Median Earnings
$1,647
Median Rent
$446,500
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 units - Lower-level suite with reception, private office, elevator access, and a shared conference room.
Where is this office units located?
The property is located at 15-230 Hilton Ave Hempstead, NY.
What is the asking price?
The asking price for this property is $149,000.
What are key features of this property?
This property features: Approximately 412 sq ft of renovated lower‑level office space; Waiting room and reception area with a separate office; Elevator building with security and cellphone app video intercom
