Fully Renovated Office
For Sale
$149,000
Pending
230 Hilton Ave 15, Hempstead, NY 11550
Lower-level professional office condo features a reception area and one office within a full-service building.
Property Size412 SF
Days on Market51
Property Features for 230 Hilton Ave 15
General Information
Standard status
Pending
Size
412 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,048
Building Details
Building Size
412 SF
Listing Agency:
Better Homes & Gardens Real Estate Realty Connect
(516) 225-9877
Listed By:
Simran Bajaj
(516) 225-9877
Source:
Elliman
Added: Jul 12
Changed: Aug 19
Last Checked: Aug 30 at 10:00PM
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 Better Homes & Gardens Real Estate Realty Connect
Investment Insights
Based on property information with market context.
Approximately 564 sq ft lower-level, fully renovated professional office condominium in a full-service building with elevators and 24/7 hours security. The unit includes a waiting room/reception area and a dedicated office. A common conference room is available on the same floor.
Condo ownership includes low monthly maintenance of $464, which the remarks state covers security, landscaping, building maintenance, heating, water, insurance, and sewer. The property offers plenty of parking and is located in Hempstead on the border of Garden City Village.
The remarks further note the location is approximately 0.9 mile to the Garden City LIRR Train Station.
Condo ownership includes low monthly maintenance of $464, which the remarks state covers security, landscaping, building maintenance, heating, water, insurance, and sewer. The property offers plenty of parking and is located in Hempstead on the border of Garden City Village.
The remarks further note the location is approximately 0.9 mile to the Garden City LIRR Train Station.
Key Highlights
- Approximately 564 sq ft lower‑level fully renovated professional office condo
- Includes a waiting room/reception area plus one office
- Full‑service building with elevators and 24/7 security
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
$9,698
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
6.51%
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%
$193,960
$194.0K
Cap Rate 7%
$138,543
$138.5K
Cap Rate 9%
$107,756
$107.8K
Market Conditions
NOI Build-Up for 564 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
$15.8K $27.96/SF
− Vacancy
−$2.8K −$5.03/SF
EGI
$12.9K $22.93/SF
− OpEx
−$3.2K −$5.73/SF
NOI
$9.7K $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%
$193,960
Cap Rate 7%
$138,543
Cap Rate 9%
$107,756
Alternative Uses
Best Use
Office B
$138.5K
$121.2K – $161.6K
NOI $9,698 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$372.9K
$326.3K – $435.1K
NOI $26,103 @ 7.0% cap · market cap 17.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,867
Businesses Nearby
Explore this area
Business Placement
Demographics for 11550, NY
61,901
Population
19,579
Households
3.2
Avg Household Size
36
Median Age
21%
College-Educated
77%
High-School Grad
4.2 sq mi
ZIP Area
14,738
Density / Sq Mi
$86,904
Median Household Income
$40,662
Median Earnings
$1,647
Median Rent
$446,500
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 - Lower-level professional office condo features a reception area and one office within a full-service building.
Where is this office units located?
The property is located at 230 Hilton Ave 15 Hempstead, NY.
What is the asking price?
The asking price for this property is $149,000.
What are key features of this property?
This property features: Approximately 564 sq ft lower‑level fully renovated professional office condo; Includes a waiting room/reception area plus one office; Full‑service building with elevators and 24/7 security
