Professional Office
For Sale
$1,298,888
600 Hicksville Rd, Bethpage, NY 11714
Well-maintained office property with a flexible interior, ample storage, and convenient access with parking.
Property Size3,456 SF
Days on Market66
Property Features for 600 Hicksville Rd
General Information
Standard status
Active
Size
3,456 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$19,706
Building Details
Building Size
3,456 SF
Year Built
1956
Listing Agency:
VORO LLC
(516) 996-3633
Listed By:
Rahul Jaggi
(516) 996-3633
Source:
Elliman
Added: Jun 16
Changed: Aug 8
Last Checked: Aug 19 at 11:52AM
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 VORO LLC
Investment Insights
Based on property information with market context.
This well-maintained commercial property is designed for adaptable office use, with a flexible layout that includes multiple private offices, open work areas, and ample storage. The configuration supports professional services and other business operations that benefit from a mix of enclosed offices and collaborative space.
Convenient access is a key feature, with the property positioned near major roads and public transportation, and surrounded by established businesses. WalkScore is listed at 42 (car-dependent) and bikeScore at 37 (somewhat bikeable), reinforcing that driving and transit access are likely the primary means of arrival.
The space is well suited for owner-users and operators seeking a practical headquarters environment, whether for office-based professional services or other business ventures that can fit within a layout offering private offices, open areas, and storage. Ample parking supports day-to-day accessibility for staff and clients, while the overall versatility of the interior layout allows the property to be considered for office, medical office, legal, accounting, retail, or startup operations, based on the stated fit.
Convenient access is a key feature, with the property positioned near major roads and public transportation, and surrounded by established businesses. WalkScore is listed at 42 (car-dependent) and bikeScore at 37 (somewhat bikeable), reinforcing that driving and transit access are likely the primary means of arrival.
The space is well suited for owner-users and operators seeking a practical headquarters environment, whether for office-based professional services or other business ventures that can fit within a layout offering private offices, open areas, and storage. Ample parking supports day-to-day accessibility for staff and clients, while the overall versatility of the interior layout allows the property to be considered for office, medical office, legal, accounting, retail, or startup operations, based on the stated fit.
Key Highlights
- Commercial property built in 1956, offered as a well‑maintained office space with a flexible interior layout
- Flexible layout includes multiple private offices, open work areas, and ample storage
- Convenient access with ample parking for employees and visitors
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
$59,427
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
4.58%
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%
$1,188,540
$1.2M
Cap Rate 7%
$848,957
$849.0K
Cap Rate 9%
$660,300
$660.3K
Market Conditions
NOI Build-Up for 3,456 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
$96.6K $27.96/SF
− Vacancy
−$17.4K −$5.03/SF
EGI
$79.2K $22.93/SF
− OpEx
−$19.8K −$5.73/SF
NOI
$59.4K $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%
$1,188,540
Cap Rate 7%
$848,957
Cap Rate 9%
$660,300
Alternative Uses
Best Use
Office B
$849.0K
$742.8K – $990.5K
NOI $59,427 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.29M
$2.00M – $2.67M
NOI $159,952 @ 7.0% cap · market cap 12.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
776
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Office building - Well-maintained office property with a flexible interior, ample storage, and convenient access with parking.
Where is this office building located?
The property is located at 600 Hicksville Rd Bethpage, NY.
What is the asking price?
The asking price for this property is $1,298,888.
What are key features of this property?
This property features: Commercial property built in 1956, offered as a well‑maintained office space with a flexible interior layout; Flexible layout includes multiple private offices, open work areas, and ample storage; Convenient access with ample parking for employees and visitors
