Freestanding Two-Story Office
For Sale
Contact for pricing
301 Central Ave, Bethpage, NY 11714
Professional office property with executive offices, kitchen, basement, and private parking.
Property Size1,901 SF
Lot Size0.10 Acres
Price / SF$365.97
Days on Market65
Property Features for 301 Central Ave
General Information
Standard status
Active
Size
1,901 SF
Total Parking Spaces
7
Lot size
0.10 Acres
Property subtype
RETAIL
Additional Details
Asking Price
$699,000
Amenities
gas heat
central air
private bathroom
multiple executive office options
kitchen/break room
basement
Building Details
Year Built
1949
Buildings
1
Stories
2
Building Size
1,901 SF
Listing Agency:
Island Associates Real Estate, Inc.
(631) 982-2100
Listed By:
Jason Merrell · License #204096
(631) 682-2100
Source:
Moodyscre
Added: Jul 14
Changed: Aug 16
Last Checked: Sep 15 at 8:42AM
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 Island Associates Real Estate, Inc.
Investment Insights
Based on property information with market context.
Freestanding two-story professional office building totaling approximately 1,901 square feet on a 0.10-acre lot. Built in 1949, the property includes multiple executive office options, a kitchen/break room, private bathroom, basement, gas heat, and central air. A private lot provides parking for 7 cars.
The building occupies the traffic-lit corner of Central Avenue and Stewart Avenue in Bethpage, NY, with frontage at 301 Central Avenue. Its freestanding configuration, office layout, private parking, and on-site functional areas support a range of professional office operations.
The building occupies the traffic-lit corner of Central Avenue and Stewart Avenue in Bethpage, NY, with frontage at 301 Central Avenue. Its freestanding configuration, office layout, private parking, and on-site functional areas support a range of professional office operations.
Key Highlights
- Freestanding two‑story professional office building with approximately 1,901 SF
- Built in 1949 on a 0.10‑acre lot
- Traffic‑lit corner of Central Ave and Stewart Ave in Bethpage, NY
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
$32,843
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
4.70%
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%
$656,860
$656.9K
Cap Rate 7%
$469,186
$469.2K
Cap Rate 9%
$364,922
$364.9K
Market Conditions
NOI Build-Up for 1,910 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
$53.4K $27.96/SF
− Vacancy
−$9.6K −$5.03/SF
EGI
$43.8K $22.93/SF
− OpEx
−$10.9K −$5.73/SF
NOI
$32.8K $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%
$656,860
Cap Rate 7%
$469,186
Cap Rate 9%
$364,922
Alternative Uses
Best Use
Office B
$469.2K
$410.5K – $547.4K
NOI $32,843 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.26M
$1.11M – $1.47M
NOI $88,400 @ 7.0% cap · market cap 12.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
720
Businesses Nearby
Explore this area
Business Placement
Demographics for 11714, NY
22,989
Population
7,925
Households
2.9
Avg Household Size
45
Median Age
41%
College-Educated
94%
High-School Grad
4.2 sq mi
ZIP Area
5,474
Density / Sq Mi
$123,679
Median Household Income
$61,499
Median Earnings
$2,211
Median Rent
$586,400
Median Home Value
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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?
Office building - Professional office property with executive offices, kitchen, basement, and private parking.
Where is this office building located?
The property is located at 301 Central Ave Bethpage, NY.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Freestanding two‑story professional office building with approximately 1,901 SF; Built in 1949 on a 0.10‑acre lot; Traffic‑lit corner of Central Ave and Stewart Ave in Bethpage, NY
