Professional Office
For Sale
$2,199,999
25 Nassau Ln, Island Park, NY 11558
Office property with a kitchen, five bathrooms, and parking serving professional users.
Property Size8,668 SF
Days on Market127
Property Features for 25 Nassau Ln
General Information
Standard status
Active
Size
8,668 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$46,060
Building Details
Building Size
8,668 SF
Year Built
1970
Listing Agency:
(516) 395-4770
Listed By:
Richard Baumel
(516) 395-4770
Source:
Elliman
Added: Apr 28
Changed: Aug 31
Last Checked: Aug 31 at 7:46PM
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 Richard Baumel
Investment Insights
Based on property information with market context.
This 8,600-square-foot office building provides professional workspace with five bathrooms, a kitchen, and 14 parking spots. Constructed in 1970, the property is configured for office occupancy and offers a substantial existing commercial improvement.
The building is located at 25 Nassau Ln in Island Park, near the Island Park Train Station. WalkScore is 78, described as Very Walkable, while BikeScore is 56, described as Bikeable. TransitScore is 38, described as Some Transit, providing additional context for access by walking, bicycle, and public transportation.
The building is located at 25 Nassau Ln in Island Park, near the Island Park Train Station. WalkScore is 78, described as Very Walkable, while BikeScore is 56, described as Bikeable. TransitScore is 38, described as Some Transit, providing additional context for access by walking, bicycle, and public transportation.
Key Highlights
- 8,600‑square‑foot professional office building
- Five bathrooms and a kitchen
- 14 parking spots
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
$149,050
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
6.78%
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%
$2,981,000
$3.0M
Cap Rate 7%
$2,129,286
$2.1M
Cap Rate 9%
$1,656,111
$1.7M
Market Conditions
NOI Build-Up for 8,668 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
$242.4K $27.96/SF
− Vacancy
−$43.6K −$5.03/SF
EGI
$198.7K $22.93/SF
− OpEx
−$49.7K −$5.73/SF
NOI
$149.0K $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 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%
$2,981,000
Cap Rate 7%
$2,129,286
Cap Rate 9%
$1,656,111
Alternative Uses
Best Use
Office B
$2.13M
$1.86M – $2.48M
NOI $149,050 @ 7.0% cap · market cap 6.78%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.73M
$5.01M – $6.69M
NOI $401,177 @ 7.0% cap · market cap 18.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
751
Businesses Nearby
Explore this area
Business Placement
Demographics for 11558, NY
8,954
Population
3,317
Households
2.7
Avg Household Size
44
Median Age
36%
College-Educated
93%
High-School Grad
1.5 sq mi
ZIP Area
5,969
Density / Sq Mi
$109,443
Median Household Income
$62,091
Median Earnings
$2,212
Median Rent
$601,500
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 building - Office property with a kitchen, five bathrooms, and parking serving professional users.
Where is this office building located?
The property is located at 25 Nassau Ln Island Park, NY.
What is the asking price?
The asking price for this property is $2,199,999.
What are key features of this property?
This property features: 8,600‑square‑foot professional office building; Five bathrooms and a kitchen; 14 parking spots
