Medical Office Suite in
For Sale
Contact for pricing
877 Stewart Avenue, Garden City, NY 11530
Medical office suite positioned within a professionally managed medical office complex.
Property Size2,600 SF
Lot Size4.65 Acres
Price / SF$456.92
Days on Market61
Property Features for 877 Stewart Avenue
General Information
Standard status
Active
Size
2,600 SF
Class
A
Total Parking Spaces
150
Lot size
4.65 Acres
Property subtype
Office
Investment Type
Owner/User
Building Details
Buildings
1
Stories
1
Listing Agency:
Charles Rutenberg Realty Inc
(516) 639-0021
Listed By:
Richard Diller · License #NY
Source:
Crexi
Added: Jun 20
Changed: Aug 14
Last Checked: Aug 18 at 12:17PM
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 Charles Rutenberg Realty Inc
Investment Insights
Based on property information with market context.
This offering is a medical office suite located within the 55,665-square-foot University Professional Plaza. The property is described as a professionally managed medical office complex, providing an established setting for healthcare-related tenants.
The plaza sits on approximately 4.65 acres, supporting a dedicated medical office environment. The asset is located at 877 Stewart Avenue in Garden City, New York.
For prospective buyers or operators seeking a healthcare-use location within a managed medical office environment, this suite provides a defined opportunity inside a larger medical office property. The building’s scale and medical-focused context are intended to support continuity for tenants who prefer to operate in a specialized office setting.
The plaza sits on approximately 4.65 acres, supporting a dedicated medical office environment. The asset is located at 877 Stewart Avenue in Garden City, New York.
For prospective buyers or operators seeking a healthcare-use location within a managed medical office environment, this suite provides a defined opportunity inside a larger medical office property. The building’s scale and medical-focused context are intended to support continuity for tenants who prefer to operate in a specialized office setting.
Key Highlights
- Suite located within the 55,665 SF University Professional Plaza medical office complex
- Professionally managed medical office complex
- Property sits on approximately 4.65 acres
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
$45,614
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
3.84%
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%
$912,280
$912.3K
Cap Rate 7%
$651,629
$651.6K
Cap Rate 9%
$506,822
$506.8K
Market Conditions
NOI Build-Up for 2,600 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
$88.3K $33.96/SF
− Vacancy
−$12.3K −$4.72/SF
EGI
$76.0K $29.24/SF
− OpEx
−$30.4K −$11.70/SF
NOI
$45.6K $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%
$912,280
Cap Rate 7%
$651,629
Cap Rate 9%
$506,822
Alternative Uses
Best Use
Healthcare Medical
$651.6K
$570.2K – $760.2K
NOI $45,614 @ 7.0% cap · market cap 3.84%
Second Best
Office B
$638.7K
$558.9K – $745.1K
NOI $44,708 @ 7.0% cap · market cap 3.76%
Theoretical Best
Specialty Retail
$1.72M
$1.50M – $2.01M
NOI $120,335 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,566
Businesses Nearby
Well-served
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office suite positioned within a professionally managed medical office complex.
Where is this medical office space located?
The property is located at 877 Stewart Avenue Garden City, NY.
What is the asking price?
The asking price for this property is $1,188,000.
What are key features of this property?
This property features: Suite located within the 55,665 SF University Professional Plaza medical office complex; Professionally managed medical office complex; Property sits on approximately 4.65 acres
