Flex Space Building with Corner
For Sale
$1,299,999
150 Jerusalem Avenue, Massapequa, NY 11758
COMMERCIAL - Massapequa, NY
Property Size3,700 SF
Lot Size0.22 Acres
Price / SF$351.35
Days on Market177
Property Features for 150 Jerusalem Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
20
Parking features
Parking Lot
Security features
Security
Lot features
Corner Lot
Standard status
Active
APN
2489-52-288-00-3730-0
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
26767
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Natural Gas, Forced Air
Cooling system
Multi Units, Central Air, Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
Rear Overhead Door
Additional Storage
Kitchen
Bath areas
Building Details
Year built
1931
Floors in Building
2
Number of units
2
Flooring type
Combination
Building materials
Aluminum Siding, Frame, Vinyl Siding
Additional Structures
Residence
Listing Agency:
Douglas Elliman Real Estate
(516) 623-4500
Listed By:
Paul M. DeTurris
(516) 509-0907
Added: Feb 16
Changed: Aug 4
Last Checked: Aug 12 at 10:06AM
MLS# 962119
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Freestanding flex space combining finished offices and warehouse space, arranged with offices on two levels and a rear warehouse area. The building includes kitchen and bath areas, plus additional storage accessed by a rear overhead door. Construction materials include aluminum siding, frame, and vinyl siding. Heating is provided via forced air, hot water heat, and natural gas, with cooling through wall/window units, window units, and central air with multi-unit cooling. Utilities include public water and public sewer, and cable availability.
The property sits on a corner with high exposure on Main Street and offers 90 ft frontage on a 9,550 sq ft lot (0.2192 acres). Parking is provided in a parking lot for 20+ cars, and the parcel also includes a residential guest house/dwelling at 714 Franklin Ave. Zoning is C6, and the layout supports multiple uses, including professional and medical-dental related scenarios described for the space.
Built in 1931, the site is positioned close to highways, supporting convenient access for occupants and visitors.
The property sits on a corner with high exposure on Main Street and offers 90 ft frontage on a 9,550 sq ft lot (0.2192 acres). Parking is provided in a parking lot for 20+ cars, and the parcel also includes a residential guest house/dwelling at 714 Franklin Ave. Zoning is C6, and the layout supports multiple uses, including professional and medical-dental related scenarios described for the space.
Built in 1931, the site is positioned close to highways, supporting convenient access for occupants and visitors.
Key Highlights
- 3,700 SF two‑story freestanding office and warehouse with rear warehouse area
- Rear overhead door plus additional storage
- Parking lot with parking for 20+ cars
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
$64,299
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
4.95%
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%
$1,285,980
$1.3M
Cap Rate 7%
$918,557
$918.6K
Cap Rate 9%
$714,433
$714.4K
Market Conditions
NOI Build-Up for 3,700 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
$81.3K $21.96/SF
− Vacancy
−$5.6K −$1.52/SF
EGI
$75.6K $20.44/SF
− OpEx
−$11.3K −$3.07/SF
NOI
$64.3K $17.38/SF
Area
Nassau County, NY
Vacancy
6.90%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
15.00%
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%
$1,285,980
Cap Rate 7%
$918,557
Cap Rate 9%
$714,433
Alternative Uses
Best Use
Warehouse
$918.6K
$803.7K – $1.07M
NOI $64,299 @ 7.0% cap · market cap 4.95%
Second Best
Office B
$908.9K
$795.3K – $1.06M
NOI $63,623 @ 7.0% cap · market cap 4.89%
Theoretical Best
Specialty Retail
$2.45M
$2.14M – $2.85M
NOI $171,245 @ 7.0% cap · market cap 13.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
911
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11758, NY
54,226
Population
19,297
Households
2.8
Avg Household Size
44
Median Age
50%
College-Educated
97%
High-School Grad
12.0 sq mi
ZIP Area
4,519
Density / Sq Mi
$157,404
Median Household Income
$72,947
Median Earnings
$2,153
Median Rent
$624,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Platinum Party Planners and Catering — 179 Jerusalem Ave, Massapequa, NY 11758
- AAA Royal Catering — 683 Franklin Ave, Massapequa, NY 11758
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- All American Wontons Storefront & Food Truck — 830 N Broadway, Massapequa, NY 11758
Frequently Asked Questions
What type of property is this?
Flex space - Two-story freestanding office and warehouse with a rear overhead door, C6 zoning, and parking for 20+ cars.
Where is this flex space located?
The property is located at 150 Jerusalem Avenue Massapequa, NY.
What is the asking price?
The asking price for this property is $1,299,999.
What are key features of this property?
This property features: 3,700 SF two‑story freestanding office and warehouse with rear warehouse area; Rear overhead door plus additional storage; Parking lot with parking for 20+ cars
