Renovated Office-Industrial Flex
For Sale
$2,600,000
26 Bond St, Westbury, NY 11590
Fully renovated office with private offices, open bullpen, and splitable second-floor loft over yard space.
Property Size5,402 SF
Price / SF$481.30
Days on Market422
Property Features for 26 Bond St
General Information
Standard status
Active
Size
5,402 SF
Property subtype
Office
Site & Location
Highway Access
Yes
Outdoor Storage
Yes
Taxes and HOA fees
Annual Taxes
$28,566
Amenities
Central Air
3
25 Parking Spaces.
Building Details
Year Built
1955
Listing Agency:
Douglas Elliman Comm of LI LLC
(631) 858-2405
Listed By:
Ben Indiviglia · License #10401224061
(516) 353-6549
Source:
Xome
Added: Jul 14, 2025
Changed: Sep 7
Last Checked: Sep 8 at 4:49AM
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 flex property is designed to support both office needs and yard use on the same site. The building includes a 5,400-square-foot office component with private offices, an open bullpen area, and a second-floor loft with separate entrances that can be split into two units.
The property also features yard space that can be used to support an owner-operator operation or used to generate additional income. On-site parking is available, along with yard storage and additional street parking.
Located close to the LIE and right off Wantagh Parkway, the property is positioned for employee and client convenience. The site is described as being in an Industrial Zone.
The property also features yard space that can be used to support an owner-operator operation or used to generate additional income. On-site parking is available, along with yard storage and additional street parking.
Located close to the LIE and right off Wantagh Parkway, the property is positioned for employee and client convenience. The site is described as being in an Industrial Zone.
Key Highlights
- Fully renovated office/industrial property in an Industrial Zone.
- 5,400 SF office space with private offices and an open bullpen area.
- Second‑floor loft with separate entrances that can be split into 2 units.
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
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,252
Businesses Nearby
Under-served
Demand for This Use
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?
Flex space - Fully renovated office with private offices, open bullpen, and splitable second-floor loft over yard space.
Where is this flex space located?
The property is located at 26 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 in an Industrial Zone.; 5,400 SF office space with private offices and an open bullpen area.; Second‑floor loft with separate entrances that can be split into 2 units.
