Move-In-Ready Medical Office
202-3 School St Glen Cove, NY 11542
For Sale
$457,000
Modern medical suite with updated HVAC, reception, half bath, and operatories/offices in a bright elevator building.
Property Size1,616 SF
Price / SF$282.80
Days on Market132
Property Features for 202-3 School St
General Information
- Standard status
- Active
- Size
- 1,616 SF
Listing Agency:
Lorber Hoffman RE Group LLC
(516) 972-5648
Listed By:
Daria K. Hoffman SRES
(516) 972-5648
Source:
Exprealty
Added: Mar 14
Changed: Jul 23
Last Checked: Jul 23 at 6:25PM
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 Lorber Hoffman RE Group LLC
Investment Insights
Based on property information with market context.
This modern, bright commercial suite is move-in ready and designed for efficient day-to-day operations. The layout includes a welcoming reception area, a half bath, operatories/offices, and a lunch/conference area, along with a storage room. Interior improvements include updated HVAC, superior lighting, and quality finishes throughout.
The suite is located in an elevator building described as front and center in Glen Cove at Village Square, with high visibility and easy access. Municipal parking is available in a parking garage with over 50 spaces within steps. The property is also positioned near shops, restaurants, and transportation.
CAM is stated as $584 per month. The suite is listed for sale, and the remarks note it is also available for lease.
The suite is located in an elevator building described as front and center in Glen Cove at Village Square, with high visibility and easy access. Municipal parking is available in a parking garage with over 50 spaces within steps. The property is also positioned near shops, restaurants, and transportation.
CAM is stated as $584 per month. The suite is listed for sale, and the remarks note it is also available for lease.
Key Highlights
- 1,616 SF modern commercial suite designed for professional use, with reception, operatories/offices, and multiple work areas
- Updated HVAC and superior lighting with quality finishes throughout
- Includes a half bath, lunch/conference area, and storage room
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.9k | $33.96 |
| − Vacancy | −$7.6k | −$4.72 |
| EGI | $47.3k | $29.24 |
| − OpEx | −$18.9k | −$11.70 |
| NOI | $28.4k | $17.54 |
1,616 SF · lease $33.96/SF/yr · vacancy 13.90% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$405.0K
$354.4K – $472.5K
NOI $28,351 @ 7.0% cap · market cap 6.20%
Second Best
Office B
$397.0K
$347.4K – $463.1K
NOI $27,788 @ 7.0% cap · market cap 6.08%
Theoretical Best
Specialty Retail
$1.07M
$934.9K – $1.25M
NOI $74,793 @ 7.0% cap · market cap 16.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Medical Office Space
Similar Off Market Nearby
- Green Forest Veterinary Hospital of Glen Cove — 120 Forest Ave, Glen Cove, NY 11542
- Glen Cove Animal Clinic — 87 Glen Cove Ave, Glen Cove, NY 11542
- Petco Vaccination Clinic — Shopping Center, 227 Forest Ave, Glen Cove, NY 11542
- Giordano a R DVM — 42 Forest Ave, Glen Cove, NY 11542
FAQs
What type of property is this?
Medical Office Space - Modern medical suite with updated HVAC, reception, half bath, and operatories/offices in a bright elevator building.
Where is this medical office space located?
The property is located at 202-3 School St Glen Cove, NY.
What is the asking price?
The asking price for this property is $457,000.
What are key features of this property?
This property features: 1,616 SF modern commercial suite designed for professional use, with reception, operatories/offices, and multiple work areas; Updated HVAC and superior lighting with quality finishes throughout; Includes a half bath, lunch/conference area, and storage room
