Move-In-Ready Medical Office
For Sale
$457,000
202-3 School St, Glen Cove, NY 11542
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 Market225
Property Features for 202-3 School St
General Information
Standard status
Active
Size
1,616 SF
Taxes and HOA fees
Annual Taxes
$12,700
Listing Agency:
Lorber Hoffman RE Group LLC
(516) 331-1280
Listed By:
Daria K. Hoffman SRES
(516) 972-5648
Source:
Exprealty
Added: Mar 14
Changed: Oct 15
Last Checked: Oct 23 at 10:47AM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$28,351
Cap Rate
6.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$567,020
$567.0K
Cap Rate 7%
$405,014
$405.0K
Cap Rate 9%
$315,011
$315.0K
Market Conditions
NOI Build-Up for 1,616 SF
Gross rent
$54.9K $33.96/SF
− Vacancy
−$7.6K −$4.72/SF
EGI
$47.3K $29.24/SF
− OpEx
−$18.9K −$11.70/SF
NOI
$28.4K $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 Rate 5%
$567,020
Cap Rate 7%
$405,014
Cap Rate 9%
$315,011
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 authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,895
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11542, NY
29,171
Population
11,374
Households
2.6
Avg Household Size
43
Median Age
41%
College-Educated
86%
High-School Grad
6.7 sq mi
ZIP Area
4,354
Density / Sq Mi
$92,284
Median Household Income
$52,855
Median Earnings
$2,350
Median Rent
$659,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Similar Off Market Nearby
- Glen Cove Animal Clinic — 87 Glen Cove Ave, Glen Cove, NY 11542
- Giordano a R DVM — 42 Forest Ave, Glen Cove, NY 11542
- Green Forest Veterinary Hospital of Glen Cove — 120 Forest Ave, Glen Cove, NY 11542
- Petco Vaccination Clinic — Shopping Center, 227 Forest Ave, Glen Cove, NY 11542
Frequently Asked Questions
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
