Renovated Office/Industrial Property For
For Sale
$2,600,000
26-32 Bond St, Westbury, NY 11590
Renovated office/industrial property with yard space and parking.
Property Size5,402 SF
Lot Size0.39 Acres
Days on Market265
Property Features for 26-32 Bond St
General Information
Standard status
Active
Size
5,402 SF
Lot size
0.39 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$28,565
Building Details
Building Size
5,402 SF
Year Built
1955
Units
2
Listing Agency:
DOUGLAS ELLIMAN COMM OF LI LLC
(631) 858-2408
Listed By:
Ben Indiviglia · License #10401224061
(631) 858-2408
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 15
Last Checked: Aug 20 at 8:30AM
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 COMM OF LI LLC
Investment Insights
Based on property information with market context.
This fully renovated office/industrial property is suitable for an owner user or an investor. The 5400 square foot office space includes private offices, an open bullpen area, and a second-floor loft space with separate entrances, allowing it to be split into two units. The yard space provides ease for an owner or additional income for an investor. On-site parking, yard storage, and additional street parking are available. Its proximity to the Long Island Expressway and the Wantagh Parkway makes it accessible for trades, employees, and clients. The property is located in an industrial zone.
Key Highlights
- Fully renovated office/industrial property, ideal for owner‑user or investor
- 5400 sq ft office space with flexible layout including private offices, open area, and loft space. Features separate entrances for potential division
- Ample yard space provides opportunities for owner use or additional rental income
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
$92,890
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
3.57%
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%
$1,857,800
$1.9M
Cap Rate 7%
$1,327,000
$1.3M
Cap Rate 9%
$1,032,111
$1.0M
Market Conditions
NOI Build-Up for 5,402 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
$151.0K $27.96/SF
− Vacancy
−$27.2K −$5.03/SF
EGI
$123.9K $22.93/SF
− OpEx
−$31.0K −$5.73/SF
NOI
$92.9K $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%
$1,857,800
Cap Rate 7%
$1,327,000
Cap Rate 9%
$1,032,111
Alternative Uses
Best Use
Office B
$1.33M
$1.16M – $1.55M
NOI $92,890 @ 7.0% cap · market cap 3.57%
Second Best
Industrial
$1.10M
$966.4K – $1.29M
NOI $77,310 @ 7.0% cap · market cap 2.97%
Theoretical Best
Specialty Retail
$3.57M
$3.13M – $4.17M
NOI $250,018 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,252
Businesses Nearby
Explore this area
Business Placement
Demographics for 11590, NY
47,838
Population
15,497
Households
3.1
Avg Household Size
40
Median Age
40%
College-Educated
87%
High-School Grad
6.7 sq mi
ZIP Area
7,140
Density / Sq Mi
$149,250
Median Household Income
$56,520
Median Earnings
$2,209
Median Rent
$616,500
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?
Industrial property - Renovated office/industrial property with yard space and parking.
Where is this industrial property located?
The property is located at 26-32 Bond St Westbury, NY.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Fully renovated office/industrial property, ideal for owner‑user or investor; 5400 sq ft office space with flexible layout including private offices, open area, and loft space. Features separate entrances for potential division; Ample yard space provides opportunities for owner use or additional rental income
