Medical Office Suite with
For Sale
$457,000
3 School Street #202, Glen Cove, NY 11542
An elevator-served suite includes treatment or office rooms, reception, conference space, storage, and updated HVAC.
Property Size1,616 SF
Price / SF$282.80
Days on Market225
Property Features for 3 School Street #202
General Information
Standard status
Active
Size
1,616 SF
Total Parking Spaces
50
Elevators
Yes
Property subtype
Commercial
Additional Details
Condition
Move-in Ready
HOA Fee
$584
Public Transit
Yes
Medical Specialty
dental, medical, cosmetic, medspa
Taxes and HOA fees
Annual Taxes
$12,700
Building Details
Building Size
1,616 SF
Stories
3
Listing Agency:
Lorber Hoffman RE Group LLC
(516) 331-1280
Listed By:
Daria K. Hoffman SRES
(516) 972-5648
Source:
Croninreale
Added: Mar 14
Changed: Oct 23
Last Checked: Oct 23 at 9:55AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,616-square-foot medical office suite has a reception area, operatories or offices, a half bath, storage, and a lunch or conference room. Updated HVAC, quality finishes, and upgraded lighting are also part of the space.
The suite is in an elevator-equipped building at 3 School Street in Glen Cove. A municipal parking garage with more than 50 spaces is steps away, with shops, restaurants, and transportation nearby.
The suite is in an elevator-equipped building at 3 School Street in Glen Cove. A municipal parking garage with more than 50 spaces is steps away, with shops, restaurants, and transportation nearby.
Key Highlights
- 1,616‑square‑foot medical office suite
- Operatories or offices, reception area, half bath, storage, and lunch or conference room
- Updated HVAC, upgraded lighting, and quality finishes
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.
How Realmo checks its estimates
Property Analytics
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
Market
Vacancy Rate% for Office in Northeast region
Similar Off Market Nearby
- Glen Cove Animal Clinic — 87 Glen Cove Ave, Glen Cove, NY 11542
- Giordano a R DVM — 42 Forest Ave, Glen Cove, NY 11542
- Green Forest Veterinary Hospital of Glen Cove — 120 Forest Ave, Glen Cove, NY 11542
- Petco Vaccination Clinic — Shopping Center, 227 Forest Ave, Glen Cove, NY 11542
Frequently Asked Questions
What type of property is this?
Medical Office Space - An elevator-served suite includes treatment or office rooms, reception, conference space, storage, and updated HVAC.
Where is this medical office space located?
The property is located at 3 School Street #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: 1,616‑square‑foot medical office suite; Operatories or offices, reception area, half bath, storage, and lunch or conference room; Updated HVAC, upgraded lighting, and quality finishes
