Plainview Office Building For
For Sale
Contact for pricing
Pending
700 Old Country Rd, Plainview, NY
Multi-tenant office building with lease-up potential and ample parking.
Property Size32,898 SF
Lot Size1.86 Acres
Days on Market605
Property Features for 700 Old Country Rd
General Information
Standard status
Pending
Size
32,898 SF
Lot size
1.86 Acres
Property subtype
OFFICE
Properties For Sale
at 700 Old Country Rd Contact us- Floor
- 1
- Size
- 2,710 SF
- Type
- OFFICE
- Availability
- AVAILABLE, Now
- Sublease
- No
700 Old Country Rd
- Two story medical / professional building, with plenty of parking.
- The building...
show more
Contact us
- Floor
- 1
- Size
- 3,640 SF
- Type
- OFFICE
- Availability
- AVAILABLE, Now
- Sublease
- No
700 Old Country Rd
- Two story medical / professional building, with plenty of parking.
- The building...
show more
Contact us
- Floor
- 1
- Size
- 940 SF
- Type
- OFFICE
- Availability
- AVAILABLE, Now
- Sublease
- No
700 Old Country Rd
- Two story medical / professional building, with plenty of parking.
- The building...
show more
Contact us
Listing Agency:
Kalmon Dolgin Affiliates
(347) 390-1166
Listed By:
Grant Dolgin · License #31K00933350
Source:
Moodyscre
Added: Dec 12, 2024
Changed: Aug 8
Last Checked: Aug 8 at 12:33PM
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 Kalmon Dolgin Affiliates
Investment Insights
Based on property information with market context.
Central Park Plaza is an office building for sale in Plainview, New York. The property is a multi-tenant building with several tenants and three vacancies available to lease-up. On-site parking is available with 120 spaces. The property is located in close proximity to the Seaford-Oyster Bay Expressway, the Northern State Parkway, and the Long Island Expressway. The property size is 32898 square feet.
Key Highlights
- Office building in Plainview, NY, offering immediate income potential.
- Opportunity to increase revenue by leasing up 3 vacant spaces.
- Ample on‑site parking with 120 spaces.
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
$565,694
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
8.70%
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%
$11,313,880
$11.3M
Cap Rate 7%
$8,081,343
$8.1M
Cap Rate 9%
$6,285,489
$6.3M
Market Conditions
NOI Build-Up for 32,898 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
$919.8K $27.96/SF
− Vacancy
−$165.6K −$5.03/SF
EGI
$754.3K $22.93/SF
− OpEx
−$188.6K −$5.73/SF
NOI
$565.7K $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%
$11,313,880
Cap Rate 7%
$8,081,343
Cap Rate 9%
$6,285,489
Alternative Uses
Best Use
Office B
$8.08M
$7.07M – $9.43M
NOI $565,694 @ 7.0% cap · market cap 8.70%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$21.75M
$19.03M – $25.38M
NOI $1,522,602 @ 7.0% cap · market cap 23.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
883
Businesses Nearby
Explore this area
Business Placement
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?
Office building - Multi-tenant office building with lease-up potential and ample parking.
Where is this office building located?
The property is located at 700 Old Country Rd Plainview, NY.
What is the asking price?
The asking price for this property is $6,499,000.
What are key features of this property?
This property features: Office building in Plainview, NY, offering immediate income potential.; Opportunity to increase revenue by leasing up 3 vacant spaces.; Ample on‑site parking with 120 spaces.
