Freestanding Flex Space with
For Sale
$1,850,000
200 Atlantic Ave, Hempstead, NY 11572
Two-building commercial property combines office functions, warehouse capacity, central air, and on-site parking.
Property Size6,000 SF
Price / SF$308.33
Days on Market584
Property Features for 200 Atlantic Ave
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Retail
Additional Details
Road Access
Yes
Amenities
conference room
full kitchen
multiple bathrooms
Central Air
3
Building Details
Buildings
2
Listing Agency:
(516) 244-2466
Listed By:
Douglas Elliman Real Estate
(516) 244-2466
Source:
Xome
Added: Jan 23, 2025
Changed: Aug 29
Last Checked: Aug 30 at 1:56PM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This flex space includes two freestanding commercial buildings totaling approximately 6,000 square feet. The improvements combine substantial office areas with a conference room, full kitchen, and multiple bathrooms. A separate warehouse component provides additional storage capacity and is equipped with an electric lift. Central air supports the office environment, while on-site parking serves employees and visitors.
The configuration brings administrative, meeting, support, and storage functions together within one property. Its two-building layout offers physical separation between office operations and warehouse use while maintaining a shared commercial facility. The property is offered for sale.
The configuration brings administrative, meeting, support, and storage functions together within one property. Its two-building layout offers physical separation between office operations and warehouse use while maintaining a shared commercial facility. The property is offered for sale.
Key Highlights
- Approximately 6,000 square feet across two freestanding commercial buildings
- Office areas with conference room, full kitchen, and multiple bathrooms
- Warehouse area equipped with an electric lift
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
$104,268
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
5.64%
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%
$2,085,360
$2.1M
Cap Rate 7%
$1,489,543
$1.5M
Cap Rate 9%
$1,158,533
$1.2M
Market Conditions
NOI Build-Up for 6,000 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
$131.8K $21.96/SF
− Vacancy
−$9.1K −$1.52/SF
EGI
$122.7K $20.44/SF
− OpEx
−$18.4K −$3.07/SF
NOI
$104.3K $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%
$2,085,360
Cap Rate 7%
$1,489,543
Cap Rate 9%
$1,158,533
Alternative Uses
Best Use
Warehouse
$1.49M
$1.30M – $1.74M
NOI $104,268 @ 7.0% cap · market cap 5.64%
Second Best
Office B
$1.47M
$1.29M – $1.72M
NOI $103,172 @ 7.0% cap · market cap 5.58%
Theoretical Best
Specialty Retail
$3.97M
$3.47M – $4.63M
NOI $277,695 @ 7.0% cap · market cap 15.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,443
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11572, NY
31,157
Population
10,811
Households
2.9
Avg Household Size
44
Median Age
48%
College-Educated
94%
High-School Grad
4.8 sq mi
ZIP Area
6,491
Density / Sq Mi
$144,419
Median Household Income
$61,627
Median Earnings
$2,118
Median Rent
$627,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Divine Goodnessss — 3250 Messick Ave, Oceanside, NY 11572
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- Greek Food Catering — 59 Main St, East Rockaway, NY 11518
Frequently Asked Questions
What type of property is this?
Flex space - Two-building commercial property combines office functions, warehouse capacity, central air, and on-site parking.
Where is this flex space located?
The property is located at 200 Atlantic Ave Hempstead, NY.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Approximately 6,000 square feet across two freestanding commercial buildings; Office areas with conference room, full kitchen, and multiple bathrooms; Warehouse area equipped with an electric lift
