Office Building with Ample
For Sale
Contact for pricing
377 Oak St, Garden City, NY 11530
Office building offering 24/7 access and on-site parking for up to 550 cars.
Property Size5,858 SF
Price / SF$221.75
Days on Market319
Property Features for 377 Oak St
General Information
Standard status
Active
Size
5,858 SF
Property subtype
OFFICE
Listing Agency:
The Rochlin Organization
(516) 935-8300
Listed By:
Michael Rosenfeld · License #10301212279
(516) 441-7360
Source:
Moodyscre
Added: Oct 31, 2025
Changed: Sep 13
Last Checked: Sep 13 at 5:36AM
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 The Rochlin Organization
Investment Insights
Based on property information with market context.
This office building is located within the Mitchel Field complex and benefits from 24/7 building access. The property is offered as an ownership opportunity, with stable, responsive property management noted in the remarks.
Additional convenience is supported by ample on-site parking, with capacity for 550 cars, and proximity to Nassau Coliseum, nearby hotels, and Hofstra. The property is also described as minutes from Meadowbrook Parkway.
The seller highlights fixed occupancy costs, with the opportunity to build equity and tax advantages referenced in the provided information.
Additional convenience is supported by ample on-site parking, with capacity for 550 cars, and proximity to Nassau Coliseum, nearby hotels, and Hofstra. The property is also described as minutes from Meadowbrook Parkway.
The seller highlights fixed occupancy costs, with the opportunity to build equity and tax advantages referenced in the provided information.
Key Highlights
- Office building in the Mitchel Field complex with nearby Nassau Coliseum, hotels, and Hofstra
- 24/7 building access
- On‑site parking for up to 550 cars
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
$100,731
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
7.75%
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%
$2,014,620
$2.0M
Cap Rate 7%
$1,439,014
$1.4M
Cap Rate 9%
$1,119,233
$1.1M
Market Conditions
NOI Build-Up for 5,858 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
$163.8K $27.96/SF
− Vacancy
−$29.5K −$5.03/SF
EGI
$134.3K $22.93/SF
− OpEx
−$33.6K −$5.73/SF
NOI
$100.7K $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%
$2,014,620
Cap Rate 7%
$1,439,014
Cap Rate 9%
$1,119,233
Alternative Uses
Best Use
Office B
$1.44M
$1.26M – $1.68M
NOI $100,731 @ 7.0% cap · market cap 7.75%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.87M
$3.39M – $4.52M
NOI $271,123 @ 7.0% cap · market cap 20.87%
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
1,128
Businesses Nearby
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Business Placement
Demographics for 11530, NY
28,851
Population
10,178
Households
2.8
Avg Household Size
42
Median Age
71%
College-Educated
96%
High-School Grad
7.2 sq mi
ZIP Area
4,007
Density / Sq Mi
$202,841
Median Household Income
$95,341
Median Earnings
$3,501
Median Rent
$987,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Office building offering 24/7 access and on-site parking for up to 550 cars.
Where is this office building located?
The property is located at 377 Oak St Garden City, NY.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Office building in the Mitchel Field complex with nearby Nassau Coliseum, hotels, and Hofstra; 24/7 building access; On‑site parking for up to 550 cars
