Updated Office Building with Private
For Sale
$2,500,000
303 MERRICK RD, Lynbrook, NY 11563
Flexible professional layout includes updated offices, multiple restrooms, central air, and on-site parking.
Property Size10,000 SF
Price / SF$250
Days on Market399
Property Features for 303 MERRICK RD
General Information
Standard status
Active
Size
10,000 SF
Total Parking Spaces
20
Property subtype
Office
Occupancy
59%
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Office Units
12
Taxes and HOA fees
Annual Taxes
$58,250
Amenities
Central Air
3
Building Details
Buildings
1
Building Size
10,000 SF
Listing Agency:
Precise Building Tech Corp
(516) 567-0241
Listed By:
Joy Kannett · License #NY 01234567
(516) 567-0241
Source:
Xome
Added: Jul 28, 2025
Changed: Aug 30
Last Checked: Aug 30 at 4:27AM
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 Precise Building Tech Corp
Investment Insights
Based on property information with market context.
This 10,000-square-foot office building offers a flexible professional layout with 12 updated offices, several of which have been combined and may be reconfigured. Six restrooms, central air, and a brick exterior support a functional, finished setting for office occupancy. A private on-site parking lot provides space for 20 cars.
The property is currently 59% occupied, with additional space available for lease-up. Public transportation access includes the LIRR, while shops and restaurants are located nearby. The combination of existing occupancy, adaptable office configuration, and dedicated parking supports continued professional office use.
The property is currently 59% occupied, with additional space available for lease-up. Public transportation access includes the LIRR, while shops and restaurants are located nearby. The combination of existing occupancy, adaptable office configuration, and dedicated parking supports continued professional office use.
Key Highlights
- 10,000 square feet of office space
- 59% occupancy with additional space available for lease‑up
- 12 updated offices, with some combined for added layout flexibility
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
$171,954
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
6.88%
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%
$3,439,080
$3.4M
Cap Rate 7%
$2,456,486
$2.5M
Cap Rate 9%
$1,910,600
$1.9M
Market Conditions
NOI Build-Up for 10,000 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
$279.6K $27.96/SF
− Vacancy
−$50.3K −$5.03/SF
EGI
$229.3K $22.93/SF
− OpEx
−$57.3K −$5.73/SF
NOI
$172.0K $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%
$3,439,080
Cap Rate 7%
$2,456,486
Cap Rate 9%
$1,910,600
Alternative Uses
Best Use
Office B
$2.46M
$2.15M – $2.87M
NOI $171,954 @ 7.0% cap · market cap 6.88%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.61M
$5.79M – $7.71M
NOI $462,825 @ 7.0% cap · market cap 18.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Office units
59%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,152
Businesses Nearby
Explore this area
Business Placement
Demographics for 11563, NY
23,349
Population
8,088
Households
2.9
Avg Household Size
43
Median Age
44%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
10,152
Density / Sq Mi
$138,006
Median Household Income
$65,565
Median Earnings
$2,173
Median Rent
$595,500
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 - Flexible professional layout includes updated offices, multiple restrooms, central air, and on-site parking.
Where is this office building located?
The property is located at 303 MERRICK RD Lynbrook, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 10,000 square feet of office space; 59% occupancy with additional space available for lease‑up; 12 updated offices, with some combined for added layout flexibility
