Brick Professional Office
For Sale
$4,800,000
220 Old Country Road, Mineola, NY 11501
Commercial Sale, Mineola, NY
Property Size13,000 SF
Lot Size0.21 Acres
Price / SF$369.23
Days on Market46
Property Features for 220 Old Country Road
General Information
Property type
Commercial Sale
Property subtype
Office
Rooms
Basement
Basement
Finished, Full
Elementary school
Hemlock School
Middle school
Garden City Middle School
High school
Garden City High School
Elementary school district
Garden City
Middle school district
Garden City
High school district
Garden City
Standard status
Active
APN
2011-34-003-00-0023-0
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
62016
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1952
Building materials
Brick
Listing Agency:
Precise Building Tech Corp
(516) 799-1900
Listed By:
Joy B. Kannett · License #NY 01234567
(516) 567-0241
Added: Jul 22
Changed: Aug 20
Last Checked: Sep 5 at 4:06PM
MLS# 1029196
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This professional office property at 220 Old Country Road features a solid brick exterior, central air, and natural-gas heating. Two rooftop HVAC units were installed recently, while the natural-gas boiler dates to approximately six years ago. The second floor, shared areas, and restrooms received renovations approximately eight years ago. The property also includes basement space, public water, public sewer, and cable availability.
The building sits along Old Country Road in Mineola, within Nassau County. The surrounding commercial corridor provides access to Mineola, Garden City, major highways, the Long Island Rail Road, Nassau County offices, NYU Langone Hospital–Long Island, and nearby legal, medical, and professional businesses. The property occupies a 0.2089-acre site.
The building sits along Old Country Road in Mineola, within Nassau County. The surrounding commercial corridor provides access to Mineola, Garden City, major highways, the Long Island Rail Road, Nassau County offices, NYU Langone Hospital–Long Island, and nearby legal, medical, and professional businesses. The property occupies a 0.2089-acre site.
Key Highlights
- 0.2089‑acre office property at 220 Old Country Road in Mineola
- Solid brick exterior with central air and natural‑gas heating
- Two recently installed rooftop HVAC units
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
$223,540
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
4.66%
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%
$4,470,800
$4.5M
Cap Rate 7%
$3,193,429
$3.2M
Cap Rate 9%
$2,483,778
$2.5M
Market Conditions
NOI Build-Up for 13,000 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
$363.5K $27.96/SF
− Vacancy
−$65.4K −$5.03/SF
EGI
$298.1K $22.93/SF
− OpEx
−$74.5K −$5.73/SF
NOI
$223.5K $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%
$4,470,800
Cap Rate 7%
$3,193,429
Cap Rate 9%
$2,483,778
Alternative Uses
Best Use
Office B
$3.19M
$2.79M – $3.73M
NOI $223,540 @ 7.0% cap · market cap 4.66%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$8.60M
$7.52M – $10.03M
NOI $601,673 @ 7.0% cap · market cap 12.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,659
Businesses Nearby
Explore this area
Business Placement
Demographics for 11501, NY
21,189
Population
9,174
Households
2.3
Avg Household Size
42
Median Age
55%
College-Educated
88%
High-School Grad
2.0 sq mi
ZIP Area
10,595
Density / Sq Mi
$138,323
Median Household Income
$78,840
Median Earnings
$2,267
Median Rent
$627,200
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 building - Second-floor, common-area, and restroom updates support a professional setting with central air and natural-gas heating.
Where is this office building located?
The property is located at 220 Old Country Road Mineola, NY.
What is the asking price?
The asking price for this property is $4,800,000.
What are key features of this property?
This property features: 0.2089‑acre office property at 220 Old Country Road in Mineola; Solid brick exterior with central air and natural‑gas heating; Two recently installed rooftop HVAC units
