Turnkey Dental Office
For Sale
$457,000
3 School St 202, Glen Cove, NY 11542
Second-floor turnkey dental suite with exam rooms, x-ray space, and elevator access in Glen Cove’s central business district.
Property Size1,616 SF
Price / SF$282.80
Days on Market169
Property Features for 3 School St 202
General Information
Standard status
Active
Size
1,616 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$12,700
Amenities
updated HVAC
high-speed internet
wide corridors
elevator access
covered garage
Building Details
Building Size
1,616 SF
Stories
1
Listing Agency:
LORBER HOFFMAN RE GROUP LLC
Listed By:
Stephanie Lorber CBR SRES
(917) 226-6452
Source:
Elliman
Added: Apr 24
Changed: Sep 26
Last Checked: Oct 7 at 12:03PM
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 LORBER HOFFMAN RE GROUP LLC
Investment Insights
Based on property information with market context.
Turnkey medical/dental office condominium located on the second floor, currently configured for dental use. The suite includes three exam rooms, a private office or consultation room, a dedicated x-ray space, a utility and storage room, a break and lunch area, a restroom, and a waiting room. An open floor plan provides flexibility for medical and professional office use.
The building offers updated HVAC, high-speed internet, wide corridors, and elevator access. A covered garage with over 50 parking spaces provides direct access to the second floor.
Situated in Glen Cove’s central business district, the property is described as being in a downtown setting with proximity to restaurants, boutique shops, and RXR’s Village Square development.
The building offers updated HVAC, high-speed internet, wide corridors, and elevator access. A covered garage with over 50 parking spaces provides direct access to the second floor.
Situated in Glen Cove’s central business district, the property is described as being in a downtown setting with proximity to restaurants, boutique shops, and RXR’s Village Square development.
Key Highlights
- Approximately 1,616 SF second‑floor medical/dental condo suite configured for dental use
- Suite includes three exam rooms plus a private office/consultation room and a dedicated x‑ray space
- Includes waiting room, restroom, break/lunch area, and utility/storage room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,351
Cap Rate
6.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$567,020
$567.0K
Cap Rate 7%
$405,014
$405.0K
Cap Rate 9%
$315,011
$315.0K
Market Conditions
NOI Build-Up for 1,616 SF
Gross rent
$54.9K $33.96/SF
− Vacancy
−$7.6K −$4.72/SF
EGI
$47.3K $29.24/SF
− OpEx
−$18.9K −$11.70/SF
NOI
$28.4K $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%
$567,020
Cap Rate 7%
$405,014
Cap Rate 9%
$315,011
Alternative Uses
Best Use
Healthcare Medical
$405.0K
$354.4K – $472.5K
NOI $28,351 @ 7.0% cap · market cap 6.20%
Second Best
Office B
$397.0K
$347.4K – $463.1K
NOI $27,788 @ 7.0% cap · market cap 6.08%
Theoretical Best
Specialty Retail
$1.07M
$934.9K – $1.25M
NOI $74,793 @ 7.0% cap · market cap 16.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,895
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11542, NY
29,171
Population
11,374
Households
2.6
Avg Household Size
43
Median Age
41%
College-Educated
86%
High-School Grad
6.7 sq mi
ZIP Area
4,354
Density / Sq Mi
$92,284
Median Household Income
$52,855
Median Earnings
$2,350
Median Rent
$659,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Second-floor turnkey dental suite with exam rooms, x-ray space, and elevator access in Glen Cove’s central business district.
Where is this medical office space located?
The property is located at 3 School St 202 Glen Cove, NY.
What is the asking price?
The asking price for this property is $457,000.
What are key features of this property?
This property features: Approximately 1,616 SF second‑floor medical/dental condo suite configured for dental use; Suite includes three exam rooms plus a private office/consultation room and a dedicated x‑ray space; Includes waiting room, restroom, break/lunch area, and utility/storage room
