Colonial Home with Dental
For Sale
Contact for pricing
2461 Merrick Ave, Merrick, NY 11566
Ground-floor active dental office with ADA bathroom and four operatories, atop a multi-bedroom residential layout.
Property Size3,415 SF
Price / SF$345.53
Days on Market128
Property Features for 2461 Merrick Ave
General Information
Standard status
Active
Size
3,415 SF
Class
A
Total Parking Spaces
7
Property subtype
Office, Special Purpose
Zoning
Residential
Investment Type
Owner/User
Amenities
kitchenette
ADA bathroom
deck
laundry room
walk-in closet
Building Details
Year Built
1961
Year Renovated
2026
Buildings
1
Stories
3
Units
2
Tenancy
Single
Construction
colonial
Listing Agency:
Douglas Elliman Commercial Division
Listed By:
Ben Indiviglia · License #NY 10401224061
(631) 858-2408
Source:
Crexi
Added: May 1
Changed: Sep 3
Last Checked: Sep 2 at 4:08PM
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 Douglas Elliman Commercial Division
Investment Insights
Based on property information with market context.
This property combines a colonial single-family layout with an active, ground-floor dental office. The dental component includes four operatories (with nitrous and silver solder), three plumbed, along with a doctor’s office room, sterilization room, and dark room. Additional improvements for the office area include switch water, suction, a compressor, reinforced support beams, lead-lined walls, two kitchenettes, an ADA bathroom, and additional half and full bath facilities.
The upper floors provide residential living space, with the second floor featuring a living room, dining room, a new quartz kitchen with sliding doors to the deck, laundry room, a primary bedroom with an en-suite bath, two additional bedrooms, and a hall bathroom. The third floor offers two bedrooms, a full bath, and a walk-in closet/storage area. HVAC includes units replaced in 2023 providing forced hot air and central air independently serving the doctor’s office and the second floor, along with two gas boilers and two electric meters. The roof was replaced in 2012, and the front exterior has been painted.
The property includes two aprons and driveways, with approximately six to seven parking spaces available to support both office and residential use. It’s described as being permitted by Town of Hempstead for primary residency while operating an owner-occupied business.
The upper floors provide residential living space, with the second floor featuring a living room, dining room, a new quartz kitchen with sliding doors to the deck, laundry room, a primary bedroom with an en-suite bath, two additional bedrooms, and a hall bathroom. The third floor offers two bedrooms, a full bath, and a walk-in closet/storage area. HVAC includes units replaced in 2023 providing forced hot air and central air independently serving the doctor’s office and the second floor, along with two gas boilers and two electric meters. The roof was replaced in 2012, and the front exterior has been painted.
The property includes two aprons and driveways, with approximately six to seven parking spaces available to support both office and residential use. It’s described as being permitted by Town of Hempstead for primary residency while operating an owner-occupied business.
Key Highlights
- Ground‑floor active dental office with 4 operatories plus ADA bathroom and additional half bath and full bath
- Owner‑occupied live/work setup: Town of Hempstead allows primary residency while operating an owner‑occupied business
- Medical office features include suction, switch water, compressor, sterilization room, dark room, and lead‑lined wall
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
$59,912
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
5.08%
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%
$1,198,240
$1.2M
Cap Rate 7%
$855,886
$855.9K
Cap Rate 9%
$665,689
$665.7K
Market Conditions
NOI Build-Up for 3,415 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
$116.0K $33.96/SF
− Vacancy
−$16.1K −$4.72/SF
EGI
$99.9K $29.24/SF
− OpEx
−$39.9K −$11.70/SF
NOI
$59.9K $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%
$1,198,240
Cap Rate 7%
$855,886
Cap Rate 9%
$665,689
Alternative Uses
Best Use
Healthcare Medical
$855.9K
$748.9K – $998.5K
NOI $59,912 @ 7.0% cap · market cap 5.08%
Second Best
Office B
$838.9K
$734.0K – $978.7K
NOI $58,722 @ 7.0% cap · market cap 4.98%
Theoretical Best
Specialty Retail
$2.26M
$1.98M – $2.63M
NOI $158,055 @ 7.0% cap · market cap 13.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,229
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11566, NY
35,147
Population
11,723
Households
3
Avg Household Size
43
Median Age
58%
College-Educated
94%
High-School Grad
5.4 sq mi
ZIP Area
6,509
Density / Sq Mi
$169,868
Median Household Income
$79,500
Median Earnings
$2,803
Median Rent
$679,000
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 - Ground-floor active dental office with ADA bathroom and four operatories, atop a multi-bedroom residential layout.
Where is this medical office space located?
The property is located at 2461 Merrick Ave Merrick, NY.
What is the asking price?
The asking price for this property is $1,180,000.
What are key features of this property?
This property features: Ground‑floor active dental office with 4 operatories plus ADA bathroom and additional half bath and full bath; Owner‑occupied live/work setup: Town of Hempstead allows primary residency while operating an owner‑occupied business; Medical office features include suction, switch water, compressor, sterilization room, dark room, and lead‑lined wall
