Medical Office
293 Castle Avenue, Westbury, NY 11590
For Sale
$2,249,998
An 8,136-square-foot commercial property offers on-site parking and is available for immediate occupancy.
Property Size8,136 SF
Price / SF$276.55
Days on Market195
Property Features for 293 Castle Avenue
General Information
Standard status
Size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Paris T Rosvolos
Listed By:
Paris T. Rosvolos
(516) 558-7762
Source:
Adamstreetrealty
Added: Apr 28
Changed: Nov 7
Last Checked: Nov 7 at 9:26AM
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 Paris T Rosvolos
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Investment Insights
Based on property information with market context.
This 8,136-square-foot medical office property was built in 1946 and includes on-site parking. The space is identified for medical office use, with attorney offices also cited as a suitable use in the property information.
Located at 293 Castle Avenue in Westbury, the building is available for showings. Its parking serves both staff and visitors.
Located at 293 Castle Avenue in Westbury, the building is available for showings. Its parking serves both staff and visitors.
Key Highlights
- 8,136 square feet of medical office space
- Built in 1946
- On‑site parking for staff and visitors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$142,736
Cap Rate
6.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,854,720
$2.9M
Cap Rate 7%
$2,039,086
$2.0M
Cap Rate 9%
$1,585,956
$1.6M
Market Conditions
NOI Build-Up for 8,136 SF
Gross rent
$276.3K $33.96/SF
− Vacancy
−$38.4K −$4.72/SF
EGI
$237.9K $29.24/SF
− OpEx
−$95.2K −$11.70/SF
NOI
$142.7K $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%
$2,854,720
Cap Rate 7%
$2,039,086
Cap Rate 9%
$1,585,956
Alternative Uses
Best Use
Healthcare Medical
$2.04M
$1.78M – $2.38M
NOI $142,736 @ 7.0% cap · market cap 6.34%
Second Best
Office B
$2.00M
$1.75M – $2.33M
NOI $139,902 @ 7.0% cap · market cap 6.22%
Theoretical Best
Specialty Retail
$5.38M
$4.71M – $6.28M
NOI $376,554 @ 7.0% cap · market cap 16.74%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,160
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
$616,500
Median Home Value
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Market
Average Price Trend$/SF for Medical Office Space in Nassau County, NY
Properties on Market for Medical Office Space in Nassau County
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - An 8,136-square-foot commercial property offers on-site parking and is available for immediate occupancy.
Where is this medical office space located?
The property is located at 293 Castle Avenue Westbury, NY.
What is the asking price?
The asking price for this property is $2,249,998.
What are key features of this property?
This property features: 8,136 square feet of medical office space; Built in 1946; On‑site parking for staff and visitors
