Professional Office
179 Herricks Road, New Hyde Park, NY 11040
For Sale
Contact for pricing
Utilities are included, with dedicated parking serving the office property.
Property Size2,869 SF
Price / SF$2.79
Days on Market34
Property Features for 179 Herricks Road
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Road Access
Utilities to Site
Additional Details
Property Use
Building Details
Year Built
Listing Agency:
Real Broker NY LLC
(518) 730-4228
Listed By:
Aaron J. Bates · License NY #10401239872
(516) 528-4824
Source:
Neilcharlesrealestate
Added: Oct 8
Changed: Nov 9
Last Checked: Nov 10 at 7:58AM
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 Real Broker NY LLC
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 professional office property at 179 Herricks Road in New Hyde Park was built in 1983. Utilities are included, and the property has three to four dedicated parking spaces.
Key Highlights
- Three to four dedicated parking spaces
- Utilities included
- Built in 1983
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,334
Suggested Prices Based on Cap Rates
Cap Rate 5%
$986,680
$986.7K
Cap Rate 7%
$704,771
$704.8K
Cap Rate 9%
$548,156
$548.2K
Market Conditions
NOI Build-Up for 2,869 SF
Gross rent
$80.2K $27.96/SF
− Vacancy
−$14.4K −$5.03/SF
EGI
$65.8K $22.93/SF
− OpEx
−$16.4K −$5.73/SF
NOI
$49.3K $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 Rate 5%
$986,680
Cap Rate 7%
$704,771
Cap Rate 9%
$548,156
Alternative Uses
Best Use
Office B
$704.8K
$616.7K – $822.2K
NOI $49,334 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.90M
$1.66M – $2.21M
NOI $132,784 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,060
Businesses Nearby
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
$795,300
Median Home Value
Market
Average Price Trend$/SF for Office Units in Nassau County, NY
Properties on Market for Office Units in Nassau County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - Utilities are included, with dedicated parking serving the office property.
Where is this office unit located?
The property is located at 179 Herricks Road New Hyde Park, NY.
What are key features of this property?
This property features: Three to four dedicated parking spaces; Utilities included; Built in 1983
