Multi-Unit Office
For Sale
$1,950,000
18-20 Hempstead Turnpike, Oyster Bay, NY 11735
For sale office units located at 18-20 Hempstead Turnpike in Nassau County.
Property Size5,396 SF
Price / SF$361.38
Days on Market65
Property Features for 18-20 Hempstead Turnpike
General Information
Standard status
Active
Size
5,396 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$39,190
Amenities
Central Air
3
Building Details
Year Built
1938
Listing Agency:
EXIT Realty Premier
(516) 795-1000
Listed By:
Robert Schwendel
(718) 578-8331
Source:
Xome
Added: Jul 3
Changed: Sep 4
Last Checked: Aug 25 at 8:41AM
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 EXIT Realty Premier
Investment Insights
Based on property information with market context.
This offering presents a multi-unit office property, marketed as office units and office space for sale. The specifics of individual unit layout or building improvements are not detailed in the provided information.
The property is located at 18-20 Hempstead Turnpike in Farmingdale, New York, in Nassau County. Interested parties should confirm available configurations, suitability for intended uses, and any leasing or occupancy details directly with the broker of record.
The property is located at 18-20 Hempstead Turnpike in Farmingdale, New York, in Nassau County. Interested parties should confirm available configurations, suitability for intended uses, and any leasing or occupancy details directly with the broker of record.
Key Highlights
- Office units for sale at 18‑20 Hempstead Turnpike in Nassau County
- Year built: 1938
- Central air cooling
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
$92,786
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%
$1,855,720
$1.9M
Cap Rate 7%
$1,325,514
$1.3M
Cap Rate 9%
$1,030,956
$1.0M
Market Conditions
NOI Build-Up for 5,396 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
$150.9K $27.96/SF
− Vacancy
−$27.2K −$5.03/SF
EGI
$123.7K $22.93/SF
− OpEx
−$30.9K −$5.73/SF
NOI
$92.8K $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%
$1,855,720
Cap Rate 7%
$1,325,514
Cap Rate 9%
$1,030,956
Alternative Uses
Best Use
Office B
$1.33M
$1.16M – $1.55M
NOI $92,786 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.57M
$3.12M – $4.16M
NOI $249,740 @ 7.0% cap · market cap 12.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
482
Businesses Nearby
Explore this area
Business Placement
Demographics for 11735, NY
32,989
Population
11,435
Households
2.9
Avg Household Size
42
Median Age
45%
College-Educated
92%
High-School Grad
10.7 sq mi
ZIP Area
3,083
Density / Sq Mi
$146,190
Median Household Income
$64,273
Median Earnings
$2,285
Median Rent
$572,000
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 - For sale office units located at 18-20 Hempstead Turnpike in Nassau County.
Where is this office units located?
The property is located at 18-20 Hempstead Turnpike Oyster Bay, NY.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Office units for sale at 18‑20 Hempstead Turnpike in Nassau County; Year built: 1938; Central air cooling
