Multi-Unit Office
For Sale
$1,150,000
2838 LONG BEACH RD, Oceanside, NY 11572
Multi-unit office building with a vacant first-floor space and 1,285 SF available on the second floor.
Property Size4,818 SF
Price / SF$238.69
Days on Market258
Property Features for 2838 LONG BEACH RD
General Information
Standard status
Active
Size
4,818 SF
Total Parking Spaces
10
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$23,209
Amenities
3
Parking.
Open Parking.
Building Details
Year Built
1928
Tenancy
Multi
Listing Agency:
NY Space Finders Inc
(516) 801-6181
Listed By:
Nicholas Evangelista · License #10401378306
(516) 385-7725
Source:
Xome
Added: Dec 23, 2025
Changed: Sep 3
Last Checked: Sep 7 at 6:02AM
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 NY Space Finders Inc
Investment Insights
Based on property information with market context.
This multi-unit office building includes current tenant occupancy with a vacant first floor and approximately 1,285 SF of available space on the second floor. The building has 10 on-site parking spaces located behind the property.
The property is located near national credit retail tenants and is within walking distance of the n15 bus stop.
Seller financing is available.
The property is located near national credit retail tenants and is within walking distance of the n15 bus stop.
Seller financing is available.
Key Highlights
- Multi‑unit office building with two current tenants
- First‑floor space is vacant
- 1,285 SF of available space for lease on the second floor
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
$82,847
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
7.20%
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%
$1,656,940
$1.7M
Cap Rate 7%
$1,183,529
$1.2M
Cap Rate 9%
$920,522
$920.5K
Market Conditions
NOI Build-Up for 4,818 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
$134.7K $27.96/SF
− Vacancy
−$24.2K −$5.03/SF
EGI
$110.5K $22.93/SF
− OpEx
−$27.6K −$5.73/SF
NOI
$82.8K $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%
$1,656,940
Cap Rate 7%
$1,183,529
Cap Rate 9%
$920,522
Alternative Uses
Best Use
Office B
$1.18M
$1.04M – $1.38M
NOI $82,847 @ 7.0% cap · market cap 7.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.19M
$2.79M – $3.72M
NOI $222,989 @ 7.0% cap · market cap 19.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,434
Businesses Nearby
Explore this area
Business Placement
Demographics for 11572, NY
31,157
Population
10,811
Households
2.9
Avg Household Size
44
Median Age
48%
College-Educated
94%
High-School Grad
4.8 sq mi
ZIP Area
6,491
Density / Sq Mi
$144,419
Median Household Income
$61,627
Median Earnings
$2,118
Median Rent
$627,300
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 - Multi-unit office building with a vacant first-floor space and 1,285 SF available on the second floor.
Where is this office building located?
The property is located at 2838 LONG BEACH RD Oceanside, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Multi‑unit office building with two current tenants; First‑floor space is vacant; 1,285 SF of available space for lease on the second floor
