Hempstead Medical Office
For Sale
$500,000
230 Hilton Ave 207, Hempstead, NY 11550
Spacious medical office condo in Hempstead, Long Island.
Property Size47,613 SF
Price / SF$277.78
Days on Market93
Property Features for 230 Hilton Ave 207
General Information
Standard status
Active
Size
47,613 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,500
Building Details
Building Size
47,613 SF
Year Built
1984
Stories
2
Listing Agency:
Momentum Real Estate LLC
(718) 382-0001
Listed By:
Tracy Tong
(718) 382-0001
Source:
Elliman
Added: May 9
Changed: Aug 8
Last Checked: May 9 at 1:25AM
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 Momentum Real Estate LLC
Investment Insights
Based on property information with market context.
This 1,800 square foot condo medical office is located on the second floor of a commercial office building in Hempstead, Long Island, directly across from the elevators. The unit features an entrance receptionist area and a large parking lot. Currently configured as a Holistic Family Health Consultant Certified Oncology Consultant's office, it includes five patient rooms, two storage rooms, an office, two restrooms, and a reception area. The Homeowner's Association fee is $1,480 per month, which includes all utilities. The property tax is $9,500 per year. The property is located in a very walkable area with a walk score of 89, a bikeable area with a bike score of 61, and good transit with a transit score of 62. The space can be adapted for various office uses, such as medical, accounting, insurance, or legal practices. Equipment is available for purchase at a negotiable price.
Key Highlights
- Large 1,800 sq ft office space suitable for various professional uses.
- Prime location in the heart of Hempstead, Long Island, with high walkability and good transit options.
- Located inside a commercial office building with a receptionist and easy access via elevators.
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
$31,579
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
6.32%
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%
$631,580
$631.6K
Cap Rate 7%
$451,129
$451.1K
Cap Rate 9%
$350,878
$350.9K
Market Conditions
NOI Build-Up for 1,800 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
$61.1K $33.96/SF
− Vacancy
−$8.5K −$4.72/SF
EGI
$52.6K $29.24/SF
− OpEx
−$21.1K −$11.70/SF
NOI
$31.6K $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 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%
$631,580
Cap Rate 7%
$451,129
Cap Rate 9%
$350,878
Alternative Uses
Best Use
Healthcare Medical
$451.1K
$394.7K – $526.3K
NOI $31,579 @ 7.0% cap · market cap 6.32%
Second Best
Office B
$442.2K
$386.9K – $515.9K
NOI $30,952 @ 7.0% cap · market cap 6.19%
Theoretical Best
Specialty Retail
$1.19M
$1.04M – $1.39M
NOI $83,309 @ 7.0% cap · market cap 16.66%
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
Under-served
Demand for This Use
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?
Medical Office Space - Spacious medical office condo in Hempstead, Long Island.
Where is this medical office space located?
The property is located at 230 Hilton Ave 207 Hempstead, NY.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Large 1,800 sq ft office space suitable for various professional uses.; Prime location in the heart of Hempstead, Long Island, with high walkability and good transit options.; Located inside a commercial office building with a receptionist and easy access via elevators.
