Renovated Professional Office
For Sale
$149,000
Pending
230 Hilton Avenue, Hempstead, NY 11550
Commercial Sale, Hempstead, NY
Property Size412 SF
Lot Size1.09 Acres
Days on Market68
Property Features for 230 Hilton Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Rooms
Basement
Parking
100
Elementary school district
Hempstead
Middle school district
Hempstead
High school district
Hempstead
Standard status
Pending
APN
2013-34-173-00-0012-UCA008500015
Lot size
1.09 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2048
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
Security
Cellphone App Video Intercom System
Common Conference room
Building Details
Floors in Building
3
Building materials
Block, Brick
Listing Agency:
BH&G R E Realty Connect · Better Homes and Gardens Real Estate
(516) 714-3606
Listed By:
Manmeet S. Bajaj
(516) 675-8000
Added: Jul 9
Changed: Sep 12
Last Checked: Sep 14 at 9:06PM
MLS# 1023428
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 lower-level professional office condominium has been fully renovated and configured with a waiting area, reception space, and an office. The building provides elevator service, security, and a cellphone app-based video intercom system. A shared conference room is available on the same floor, supporting additional meeting needs without expanding the private suite.
The property is located in Hempstead near the border of Garden City Village, with plentiful parking at the building. Garden City LIRR Train Station is approximately 0.9 mile away. Building systems include forced-air heating and central air conditioning, while public water and public sewer serve the property.
The property is located in Hempstead near the border of Garden City Village, with plentiful parking at the building. Garden City LIRR Train Station is approximately 0.9 mile away. Building systems include forced-air heating and central air conditioning, while public water and public sewer serve the property.
Key Highlights
- Fully renovated lower‑level professional office condominium
- Waiting room and reception area plus private office
- Elevator building with security and cellphone app video intercom
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
$7,085
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
4.76%
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%
$141,700
$141.7K
Cap Rate 7%
$101,214
$101.2K
Cap Rate 9%
$78,722
$78.7K
Market Conditions
NOI Build-Up for 412 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
$11.5K $27.96/SF
− Vacancy
−$2.1K −$5.03/SF
EGI
$9.4K $22.93/SF
− OpEx
−$2.4K −$5.73/SF
NOI
$7.1K $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%
$141,700
Cap Rate 7%
$101,214
Cap Rate 9%
$78,722
Alternative Uses
Best Use
Office B
$101.2K
$88.6K – $118.1K
NOI $7,085 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$272.4K
$238.4K – $317.8K
NOI $19,068 @ 7.0% cap · market cap 12.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office units - Lower-level condominium offers reception space, a private office, elevator access, and a shared conference room.
Where is this office units located?
The property is located at 230 Hilton Avenue 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: Fully renovated lower‑level professional office condominium; Waiting room and reception area plus private office; Elevator building with security and cellphone app video intercom
