Leased Office Building with
For Sale
$1,995,000
337-343 - 20 Blake Merrick & Blake Road, Lynbrook, NY 11563
Commercial Sale, Lynbrook, NY
Property Size10,000 SF
Lot Size0.24 Acres
Price / SF$199.50
Days on Market52
Property Features for 337-343 - 20 Blake Merrick & Blake Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Com
Elementary school district
Lynbrook
Middle school district
Lynbrook
High school district
Lynbrook
Directions
Google Maps
Standard status
Active
APN
2025-37-316-00-0055-0
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
63000
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas, Baseboard
Cooling system
Central Air
Water source
Public
Building Details
Number of units
5
Building materials
Brick
Listing Agency:
Precise Building Tech Corp
(516) 799-1900
Listed By:
Joy B. Kannett · License #NY 01234567
(516) 567-0241
Added: Jul 16
Changed: Aug 20
Last Checked: Sep 5 at 2:06AM
MLS# 1026963
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully leased office building at 337-343 Merrick Road and 20 Blake Avenue includes 12 updated offices, six restrooms, a brick exterior, and a newly paved private parking area for 20 cars. Some office areas have been combined, allowing the interior configuration to support varied professional layouts. The property is zoned Com and served by public water and public sewer, with central air, forced-air and baseboard heating, and natural gas service.
Positioned at the corner of Merrick Road and Blake Avenue in Lynbrook, the property offers frontage along Merrick Road and access to nearby shops and restaurants. The location is also near the Long Island Rail Road and other public transportation. Cable service is available at the property.
Positioned at the corner of Merrick Road and Blake Avenue in Lynbrook, the property offers frontage along Merrick Road and access to nearby shops and restaurants. The location is also near the Long Island Rail Road and other public transportation. Cable service is available at the property.
Key Highlights
- Fully leased office building with 12 updated offices and six restrooms
- Newly paved private parking lot accommodates 20 cars
- Corner location at Merrick Road and Blake Avenue in Lynbrook
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
8.62%
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 8.62%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.61M
$5.79M – $7.71M
NOI $462,825 @ 7.0% cap · market cap 23.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Office units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,193
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 - Fully leased commercial property with updated offices, private parking, and a flexible layout for professional tenants.
Where is this office building located?
The property is located at 337-343 - 20 Blake Merrick & Blake Road Lynbrook, NY.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Fully leased office building with 12 updated offices and six restrooms; Newly paved private parking lot accommodates 20 cars; Corner location at Merrick Road and Blake Avenue in Lynbrook
