Listing Agency: ACC Space Commercial Real Estate Show Phone

Listed By: Chip Entwistle · License #10301214444 Show Phone

Source: Moodyscre

Added: Jul 19, 2023 Changed: Oct 10 Last Checked: Oct 19 at 7:09AM

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Investment Insights

Based on property information with market context.

The property is a 29,726-square-foot office building at 88 Sunnyside Blvd in Plainview, New York. Current occupancy is 62%, leaving existing space available within the building for a buyer or occupant to evaluate.

The property provides immediate access to the Long Island Expressway and Northern State Parkway, connecting the site with major transportation routes across Long Island. Its office classification and existing occupancy profile support consideration of the building for continued office use.

Key Highlights

• 29,726‑square‑foot office building
• Current occupancy of 62%
• Immediate access to the Long Island Expressway

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$511,150

Cap Rate

8.15%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$10,223,000 $10.2M

Cap Rate 7%

$7,302,143 $7.3M

Cap Rate 9%

$5,679,444 $5.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 29,726 SF

Gross rent

$831.1K $27.96/SF

− Vacancy

−$149.6K −$5.03/SF

EGI

$681.5K $22.93/SF

− OpEx

−$170.4K −$5.73/SF

NOI

$511.2K $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 Rate 5%

$10,223,000

Cap Rate 7%

$7,302,143

Cap Rate 9%

$5,679,444

Alternative Uses

Best Use

Office B

$7.30M

$6.39M – $8.52M (±1% cap)

NOI $511,150 @ 7.0% cap · market cap 8.15%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$19.65M

$17.20M – $22.93M (±1% cap)

NOI $1,375,794 @ 7.0% cap · market cap 21.93%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Straus-Artys Corporation Industrial Manufacturer Subscription Services of America, ... Newspaper & Magazine Fusion Architecture PLLC Architect Mid Island Audiology Physician Medical Resource Group ... Consultant

Suggested Use

Top Pick Hair Salon Parking Lot & Garage Nail Salon Grocery & Convenience Store Spa & Massage Center Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

62%

Occupancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,214

Businesses Nearby

Explore this area Business Placement

Demographics for 11803, NY

30,049

Population

10,794

Households

2.8

Avg Household Size

45

Median Age

66%

College-Educated

96%

High-School Grad

6.2 sq mi

ZIP Area

4,847

Density / Sq Mi

$184,410

Median Household Income

$84,426

Median Earnings

$3,026

Median Rent

$732,000

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Frequently Asked Questions

What type of property is this?

Office building - Office property offering available space with immediate access to the Long Island Expressway and Northern State Parkway.

Where is this office building located?

The property is located at 88 Sunnyside Blvd Plainview, NY.

What is the asking price?

The asking price for this property is $6,275,000.

What are key features of this property?

This property features: 29,726‑square‑foot office building; Current occupancy of 62%; Immediate access to the Long Island Expressway