Medical Office with
For Sale
$659,000
4169 Iris Place, Bethpage, NY 11714
Medical office space with reception, exam rooms, and parking.
Property Size1,196 SF
Days on Market154
Property Features for 4169 Iris Place
General Information
Standard status
Active
Size
1,196 SF
Property subtype
Commercial
Zoning
Medical
Taxes and HOA fees
Annual Taxes
$11,093
Building Details
Building Size
1,196 SF
Year Built
1950
Listing Agency:
Homes By Mara
(516) 364-2500
Listed By:
Mara D. Navaretta
(516) 551-3347
Source:
Cornerstonemyhome
Added: Apr 5
Changed: Sep 4
Last Checked: Sep 2 at 8:29PM
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 Homes By Mara
Investment Insights
Based on property information with market context.
This property is zoned for use as a medical office. The layout includes a reception area, four rooms, and two bathrooms. The exam rooms are equipped with sinks. The property features central air conditioning and ample parking. It is located off a high-visibility road. The property has a bike score of 37, indicating it is somewhat bikeable, a walk score of 53, indicating it is somewhat walkable, and a transit score of 15, indicating minimal transit options.
Key Highlights
- Zoned/Legal Use: Medical Office
- Low Taxes: $11,062.97
- High Visibility Location
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
$20,982
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
3.18%
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%
$419,640
$419.6K
Cap Rate 7%
$299,743
$299.7K
Cap Rate 9%
$233,133
$233.1K
Market Conditions
NOI Build-Up for 1,196 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
$40.6K $33.96/SF
− Vacancy
−$5.6K −$4.72/SF
EGI
$35.0K $29.24/SF
− OpEx
−$14.0K −$11.70/SF
NOI
$21.0K $17.54/SF
Area
Nassau County, NY
Vacancy
13.90%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
40.00%
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%
$419,640
Cap Rate 7%
$299,743
Cap Rate 9%
$233,133
Alternative Uses
Best Use
Healthcare Medical
$299.7K
$262.3K – $349.7K
NOI $20,982 @ 7.0% cap · market cap 3.18%
Second Best
Office B
$293.8K
$257.1K – $342.8K
NOI $20,566 @ 7.0% cap · market cap 3.12%
Theoretical Best
Specialty Retail
$790.8K
$691.9K – $922.6K
NOI $55,354 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
603
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office space with reception, exam rooms, and parking.
Where is this medical office space located?
The property is located at 4169 Iris Place Bethpage, NY.
What is the asking price?
The asking price for this property is $659,000.
What are key features of this property?
This property features: Zoned/Legal Use: Medical Office; Low Taxes: $11,062.97; High Visibility Location
