Listing Agency: ACC Space Commercial Real Estate Show Phone

Listed By: Chip Entwistle · License #10301214444 Show Phone

Source: Moodyscre

Added: Jul 19, 2023 Changed: Oct 26 Last Checked: Nov 1 at 5:43AM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 3,690 square foot building is an attractive investment opportunity in a desirable location. The property is a built-out dentist office, benefiting owner-users looking for medical space. Its proximity to Hempstead Turnpike and the Meadow Brook Parkway allows for ease of transportation.

Key Highlights

• Excellent investment opportunity in a desirable Long Island location.
• Close proximity to Hempstead Tpke and Meadow Brook Parkway for easy transportation.
• Surrounded by an influx of notable amenities and transportation access.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$64,736

Cap Rate

4.62%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,294,720 $1.3M

Cap Rate 7%

$924,800 $924.8K

Cap Rate 9%

$719,289 $719.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,690 SF

Gross rent

$125.3K $33.96/SF

− Vacancy

−$17.4K −$4.72/SF

EGI

$107.9K $29.24/SF

− OpEx

−$43.2K −$11.70/SF

NOI

$64.7K $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 Rate 5%

$1,294,720

Cap Rate 7%

$924,800

Cap Rate 9%

$719,289

Alternative Uses

Best Use

Healthcare Medical

$924.8K

$809.2K – $1.08M (±1% cap)

NOI $64,736 @ 7.0% cap · market cap 4.62%

Second Best

Office B

$906.4K

$793.1K – $1.06M (±1% cap)

NOI $63,451 @ 7.0% cap · market cap 4.53%

Theoretical Best

Specialty Retail

$2.44M

$2.13M – $2.85M (±1% cap)

NOI $170,782 @ 7.0% cap · market cap 12.20%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

East Meadow Dental ... Dental Office Rehabpro Physical Therapy ... Physician Dr. James Mastrodomenico, ... Dental Office East Meadow Dental ... Dental Office Jacobson Andrew DDS Dental Office

Suggested Use

Top Pick Parking Lot & Garage (Bike/Boat/Book/etc) Store Department Store Clothing & Fashion Store Cosmetic Store Daycare Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,281

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Similar Off Market Nearby

• East Meadow Veterinary Center — 535 E Meadow Ave, East Meadow, NY 11554
• Helping PAW — 220 E Meadow Ave, East Meadow, NY 11554

Frequently Asked Questions

What type of property is this?

Medical Office Space - Excellent investment opportunity in a desirable Long Island location.

Where is this medical office space located?

The property is located at 258 E Meadow Ave E Meadow, NY.

What is the asking price?

The asking price for this property is $1,400,000.

What are key features of this property?

This property features: Excellent investment opportunity in a desirable Long Island location.; Close proximity to Hempstead Tpke and Meadow Brook Parkway for easy transportation.; Surrounded by an influx of notable amenities and transportation access.