Medical Office Condo with
For Sale
$999,000
1575 Hillside Avenue #309, New Hyde Park, NY 11040
A configurable professional suite includes a private bathroom with a stall shower and an existing sauna installation.
Property Size2,518 SF
Price / SF$396.74
Days on Market160
Property Features for 1575 Hillside Avenue #309
General Information
Standard status
Active
Size
2,518 SF
Class
A
Total Parking Spaces
190
Elevators
Yes
Property subtype
Commercial
Additional Details
HOA Fee
$1,780
Public Transit
Yes
Property Use
Medical Office
Taxes and HOA fees
Annual Taxes
$25,833
Amenities
updated common-area carpeting and paint
enhanced security
upgraded building cameras
Building Details
Buildings
1
Stories
3
Listing Agency:
RE/MAX Team
(718) 747-9599
Listed By:
Paula M. Annarumma Caruso GRI CRS
(718) 781-3055
Source:
Croninreale
Added: May 18
Changed: Oct 23
Last Checked: Oct 23 at 3:40PM
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 RE/MAX Team
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,518-square-foot medical office condo has a flexible interior and an existing sauna build-out. A private bathroom with a stall shower is also included. The layout can be adapted for professional or healthcare-related operations, subject to the owner’s plans and applicable requirements.
The property has a large on-site parking lot, and public transportation is accessible. Building improvements include new elevators, refreshed common-area carpeting and paint, enhanced security, and upgraded cameras.
The property has a large on-site parking lot, and public transportation is accessible. Building improvements include new elevators, refreshed common-area carpeting and paint, enhanced security, and upgraded cameras.
Key Highlights
- 2,518‑square‑foot medical office condo
- Private bathroom with stall shower and existing sauna build‑out
- Large on‑site parking lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,175
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$883,500
$883.5K
Cap Rate 7%
$631,071
$631.1K
Cap Rate 9%
$490,833
$490.8K
Market Conditions
NOI Build-Up for 2,518 SF
Gross rent
$85.5K $33.96/SF
− Vacancy
−$11.9K −$4.72/SF
EGI
$73.6K $29.24/SF
− OpEx
−$29.5K −$11.70/SF
NOI
$44.2K $17.54/SF
Area
Nassau County, NY
Vacancy
13.90%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$883,500
Cap Rate 7%
$631,071
Cap Rate 9%
$490,833
Alternative Uses
Best Use
Healthcare Medical
$631.1K
$552.2K – $736.3K
NOI $44,175 @ 7.0% cap · market cap 4.42%
Second Best
Office B
$618.5K
$541.2K – $721.6K
NOI $43,298 @ 7.0% cap · market cap 4.33%
Theoretical Best
Specialty Retail
$1.66M
$1.46M – $1.94M
NOI $116,539 @ 7.0% cap · market cap 11.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,092
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11040, NY
43,075
Population
14,608
Households
2.9
Avg Household Size
45
Median Age
56%
College-Educated
92%
High-School Grad
4.8 sq mi
ZIP Area
8,974
Density / Sq Mi
$153,511
Median Household Income
$70,649
Median Earnings
$2,388
Median Rent
$795,300
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
Similar Off Market Nearby
- Banfield Pet Hospital — 1600 Marcus Ave, New Hyde Park, NY 11040
Frequently Asked Questions
What type of property is this?
Medical Office Space - A configurable professional suite includes a private bathroom with a stall shower and an existing sauna installation.
Where is this medical office space located?
The property is located at 1575 Hillside Avenue #309 New Hyde Park, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 2,518‑square‑foot medical office condo; Private bathroom with stall shower and existing sauna build‑out; Large on‑site parking lot
