Freestanding Leased Office
313 W Old Country Road, Hicksville, NY 11801
For Sale
New
$3,050,000
Two office floors, a finished basement, and on-site parking serve a three-tenant occupancy.
Property Size10,284 SF
Lot Size0.33 Acres
Price / SF$296.58
Days on Market6
Property Features for 313 W Old Country Road
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Occupancy
Financials
Cap Rate
Gross Income
Site & Location
Road Access
Public Transit
Additional Details
Tenant in Place
Property Use
Taxes and HOA fees
Annual Taxes
Building Details
Year Built
Buildings
Stories
Tenancy
Listing Agency:
Yaos Realty LLC
(631) 321-0100
Listed By:
Jianfeng Yao
(917) 224-5932
Source:
Mikecarrollsellshomes
Added: Nov 3
Changed: Nov 7
Last Checked: Nov 7 at 3:48PM
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 Yaos Realty LLC
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Investment Insights
Based on property information with market context.
This freestanding office property contains approximately 10,284 square feet, arranged as 5,142 square feet of first-floor offices and a 5,142-square-foot multi-use office basement. Built in 1963, the building occupies a 14,364-square-foot lot and has approximately 35 on-site parking spaces. It is fully leased to three tenants. The two largest leases, representing approximately 92% of rent, are triple net, with tenants responsible for their shares of real estate taxes, insurance, and common area maintenance.
The property fronts Old Country Road, a primary office and retail corridor on Long Island, and is near the Hicksville LIRR station. The anchor tenant occupies two-thirds of the building under a lease running through March 2029, with a five-year renewal option. Annual rent increases by 3%.
The property fronts Old Country Road, a primary office and retail corridor on Long Island, and is near the Hicksville LIRR station. The anchor tenant occupies two-thirds of the building under a lease running through March 2029, with a five-year renewal option. Annual rent increases by 3%.
Key Highlights
- Approximately 10,284 square feet, including 5,142‑square‑foot first‑floor offices and a 5,142‑square‑foot office basement
- Fully leased to three tenants
- Two largest leases account for approximately 92% of rent and are triple net
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$176,837
Cap Rate
5.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,536,740
$3.5M
Cap Rate 7%
$2,526,243
$2.5M
Cap Rate 9%
$1,964,856
$2.0M
Market Conditions
NOI Build-Up for 10,284 SF
Gross rent
$287.5K $27.96/SF
− Vacancy
−$51.8K −$5.03/SF
EGI
$235.8K $22.93/SF
− OpEx
−$58.9K −$5.73/SF
NOI
$176.8K $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 Rate 5%
$3,536,740
Cap Rate 7%
$2,526,243
Cap Rate 9%
$1,964,856
Alternative Uses
Best Use
Office B
$2.53M
$2.21M – $2.95M
NOI $176,837 @ 7.0% cap · market cap 5.80%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.80M
$5.95M – $7.93M
NOI $475,969 @ 7.0% cap · market cap 15.61%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,587
Businesses Nearby
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Business Placement
Demographics for 11801, NY
41,779
Population
13,068
Households
3.2
Avg Household Size
42
Median Age
44%
College-Educated
92%
High-School Grad
6.7 sq mi
ZIP Area
6,236
Density / Sq Mi
$147,945
Median Household Income
$54,052
Median Earnings
$2,992
Median Rent
$611,400
Median Home Value
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Market
Properties on Market for Office buildings in Nassau County
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Two office floors, a finished basement, and on-site parking serve a three-tenant occupancy.
Where is this office building located?
The property is located at 313 W Old Country Road Hicksville, NY.
What is the asking price?
The asking price for this property is $3,050,000.
What are key features of this property?
This property features: Approximately 10,284 square feet, including 5,142‑square‑foot first‑floor offices and a 5,142‑square‑foot office basement; Fully leased to three tenants; Two largest leases account for approximately 92% of rent and are triple net
