Masonry Office Building with 13
For Sale
$1,350,000
248-36 Jericho Tpke, Bellrose Village, NY 11001
Masonry office building with updated bathrooms, roof replacement, and HVAC replacement, supported by 13 parking spaces.
Property Size2,560 SF
Days on Market144
Property Features for 248-36 Jericho Tpke
General Information
Standard status
Active
Size
2,560 SF
Total Parking Spaces
13
Property subtype
Office
Building Details
Building Size
2,560 SF
Year Built
1925
Listing Agency:
Lee & Associates | Long Island
Listed By:
Kelly Koukou
(516) 282-3600
Source:
Lee-associates
Added: Jun 7
Changed: Oct 25
Last Checked: Oct 28 at 7:04AM
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 Lee & Associates | Long Island
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Investment Insights
Based on property information with market context.
This masonry office building includes a dedicated floor with restrooms whose bathrooms were redone within the past three years. Additional capital improvements include roof membrane replacement in 2012 and HVAC replacement in 2016, helping reduce near-term building systems concerns. The property also provides 13 parking spaces for tenant and visitor use.
Located at 248-36 Jericho Tpke in Bellrose Village, NY, the building offers practical on-site parking as part of the overall tenant experience. The masonry construction and completed major system updates support straightforward day-to-day operations for office users seeking a maintained facility.
For buyers evaluating office space as an owner-occupied or investment-use asset, the combination of renovated restrooms and refreshed mechanical and roofing elements can be particularly useful for planning and budgeting. The 13-space parking count supports access needs for staff and clients, while the masonry exterior and completed system work provide a more stable baseline for occupancy. Offered for sale at $1,350,000, this is an office building to consider when prioritizing property condition and documented improvements.
Located at 248-36 Jericho Tpke in Bellrose Village, NY, the building offers practical on-site parking as part of the overall tenant experience. The masonry construction and completed major system updates support straightforward day-to-day operations for office users seeking a maintained facility.
For buyers evaluating office space as an owner-occupied or investment-use asset, the combination of renovated restrooms and refreshed mechanical and roofing elements can be particularly useful for planning and budgeting. The 13-space parking count supports access needs for staff and clients, while the masonry exterior and completed system work provide a more stable baseline for occupancy. Offered for sale at $1,350,000, this is an office building to consider when prioritizing property condition and documented improvements.
Key Highlights
- 1925 masonry office building
- Bathrooms redone within the past 3 years
- Roof membrane replaced in 2012
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,020
Cap Rate
3.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$880,400
$880.4K
Cap Rate 7%
$628,857
$628.9K
Cap Rate 9%
$489,111
$489.1K
Market Conditions
NOI Build-Up for 2,560 SF
Gross rent
$71.6K $27.96/SF
− Vacancy
−$12.9K −$5.03/SF
EGI
$58.7K $22.93/SF
− OpEx
−$14.7K −$5.73/SF
NOI
$44.0K $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 Rate 5%
$880,400
Cap Rate 7%
$628,857
Cap Rate 9%
$489,111
Alternative Uses
Best Use
Office B
$628.9K
$550.3K – $733.7K
NOI $44,020 @ 7.0% cap · market cap 3.26%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.69M
$1.48M – $1.97M
NOI $118,483 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,260
Businesses Nearby
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Business Placement
Demographics for 11001, NY
27,662
Population
8,923
Households
3.1
Avg Household Size
43
Median Age
53%
College-Educated
91%
High-School Grad
2.2 sq mi
ZIP Area
12,574
Density / Sq Mi
$144,755
Median Household Income
$66,053
Median Earnings
$2,196
Median Rent
$714,600
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Masonry office building with updated bathrooms, roof replacement, and HVAC replacement, supported by 13 parking spaces.
Where is this office building located?
The property is located at 248-36 Jericho Tpke Bellrose Village, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 1925 masonry office building; Bathrooms redone within the past 3 years; Roof membrane replaced in 2012
