Multi-Tenant Office
For Sale
$889,000
17 S Maryland Avenue, Port Washington, NY 11050
Multi-tenant office property with basement storage and ample parking near Port Washington transit access.
Property Size2,643 SF
Days on Market296
Property Features for 17 S Maryland Avenue
General Information
Standard status
Active
Size
2,643 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$17,067
Building Details
Building Size
2,643 SF
Year Built
1908
Stories
3
Units
4
Tenancy
Multi
Listing Agency:
Daniel Gale Sothebys Intl Rlty
(516) 626-7600
Listed By:
Jean Marie Stalzer
(516) 509-7564
Source:
Mahlerrealty
Added: Nov 12, 2025
Changed: Sep 4
Last Checked: Aug 25 at 9:22AM
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 Daniel Gale Sothebys Intl Rlty
Investment Insights
Based on property information with market context.
This for-sale commercial property on S Maryland Avenue is set up to support multiple rental spaces, with additional basement storage included. The building offers parking on-site, which helps accommodate patients, clients, and staff for a range of office uses, including medical office configurations.
The property is positioned in Port Washington just two blocks from the Long Island Rail Road and near a bus stop, providing convenient public transportation access. It is also described as being near downtown, supporting day-to-day accessibility for tenants and visitors.
With multiple rental spaces and practical on-site parking, the building can work for investors seeking an office portfolio or for business owners looking for an office setup with dedicated storage. The transit proximity can be a meaningful factor for tenant operations that depend on regular client or employee visits, while the flexibility of a multi-space configuration supports different office layouts within the same property.
The property is positioned in Port Washington just two blocks from the Long Island Rail Road and near a bus stop, providing convenient public transportation access. It is also described as being near downtown, supporting day-to-day accessibility for tenants and visitors.
With multiple rental spaces and practical on-site parking, the building can work for investors seeking an office portfolio or for business owners looking for an office setup with dedicated storage. The transit proximity can be a meaningful factor for tenant operations that depend on regular client or employee visits, while the flexibility of a multi-space configuration supports different office layouts within the same property.
Key Highlights
- Multi‑tenant office property built in 1908
- Just two blocks from the Long Island Rail Road and near a bus stop
- Multiple rental spaces for tenant occupancy
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
$46,368
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
5.22%
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%
$927,360
$927.4K
Cap Rate 7%
$662,400
$662.4K
Cap Rate 9%
$515,200
$515.2K
Market Conditions
NOI Build-Up for 2,643 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
$89.8K $33.96/SF
− Vacancy
−$12.5K −$4.72/SF
EGI
$77.3K $29.24/SF
− OpEx
−$30.9K −$11.70/SF
NOI
$46.4K $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 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%
$927,360
Cap Rate 7%
$662,400
Cap Rate 9%
$515,200
Alternative Uses
Best Use
Healthcare Medical
$662.4K
$579.6K – $772.8K
NOI $46,368 @ 7.0% cap · market cap 5.22%
Second Best
Office B
$649.2K
$568.1K – $757.5K
NOI $45,447 @ 7.0% cap · market cap 5.11%
Theoretical Best
Specialty Retail
$1.75M
$1.53M – $2.04M
NOI $122,325 @ 7.0% cap · market cap 13.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,363
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11050, NY
31,512
Population
12,329
Households
2.6
Avg Household Size
44
Median Age
67%
College-Educated
96%
High-School Grad
10.1 sq mi
ZIP Area
3,120
Density / Sq Mi
$153,819
Median Household Income
$78,132
Median Earnings
$2,454
Median Rent
$990,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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- North Shore Animal League - Don and Karen Larocca Pet Wellness Center — 63 S Bayles Ave, Port Washington, NY 11050
Frequently Asked Questions
What type of property is this?
Medical Office Space - Multi-tenant office property with basement storage and ample parking near Port Washington transit access.
Where is this medical office space located?
The property is located at 17 S Maryland Avenue Port Washington, NY.
What is the asking price?
The asking price for this property is $889,000.
What are key features of this property?
This property features: Multi‑tenant office property built in 1908; Just two blocks from the Long Island Rail Road and near a bus stop; Multiple rental spaces for tenant occupancy
