Mineola Industrial Flex
For Sale
$2,600,000
88 Windsor Ave, Mineola, NY 11501
Open warehouse/flex space with renovated office in Mineola, NY.
Property Size6,980 SF
Days on Market116
Property Features for 88 Windsor Ave
General Information
Standard status
Active
Size
6,980 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$23,399
Building Details
Building Size
6,980 SF
Year Built
1966
Listing Agency:
(516) 992-6598
Listed By:
Frances Lisner
(516) 992-6598
Source:
Elliman
Added: Apr 15
Changed: Aug 8
Last Checked: Jul 15 at 8:06PM
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 Frances Lisner
Investment Insights
Based on property information with market context.
This Mineola industrial flex property presents a rare opportunity for an owner-user or investor. The property features an open warehouse/flex space with modern, renovated office space under one roof. Suited for contractors, distributors, light manufacturers, and businesses needing warehouse and clean professional office space, this single-tenant property can be easily adapted for multi-use. The warehouse area offers 14-16 foot clear ceiling heights and two drive-in overhead doors. Updated office space is available on the first floor and mezzanine levels, suitable for administrative tasks, showrooms, or additional storage. The property is situated on a level lot in a commercial/industrial area with medium traffic flow. Located minutes from major highways including the LIE, Northern State, and Meadowbrook, it provides fast access across Long Island and New York City. The East Williston LIRR station is 0.3 miles away, with a short drive to Mineola Station, offering convenient commuting options. The property is located in a stable industrial corridor with strong demand for flex space in Long Island.
Key Highlights
- Prime location in Mineola, Western Nassau County, with easy access to major highways and proximity to East Williston LIRR and Mineola Station.
- Open warehouse/flex space with 14’–16’ clear ceiling heights and two (2) drive‑in overhead doors.
- Modern, renovated office space on 1st floor and mezzanine levels.
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
$121,299
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
4.67%
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%
$2,425,980
$2.4M
Cap Rate 7%
$1,732,843
$1.7M
Cap Rate 9%
$1,347,767
$1.3M
Market Conditions
NOI Build-Up for 6,980 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
$153.3K $21.96/SF
− Vacancy
−$10.6K −$1.52/SF
EGI
$142.7K $20.44/SF
− OpEx
−$21.4K −$3.07/SF
NOI
$121.3K $17.38/SF
Area
Nassau County, NY
Vacancy
6.90%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
15.00%
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%
$2,425,980
Cap Rate 7%
$1,732,843
Cap Rate 9%
$1,347,767
Alternative Uses
Best Use
Warehouse
$1.73M
$1.52M – $2.02M
NOI $121,299 @ 7.0% cap · market cap 4.67%
Second Best
Office B
$1.71M
$1.50M – $2.00M
NOI $120,024 @ 7.0% cap · market cap 4.62%
Theoretical Best
Specialty Retail
$4.62M
$4.04M – $5.38M
NOI $323,052 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,162
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11501, NY
21,189
Population
9,174
Households
2.3
Avg Household Size
42
Median Age
55%
College-Educated
88%
High-School Grad
2.0 sq mi
ZIP Area
10,595
Density / Sq Mi
$138,323
Median Household Income
$78,840
Median Earnings
$2,267
Median Rent
$627,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Lighthouse Catering — 33 E Jericho Turnpike, Mineola, NY 11501
- Dolce & Gelato Catering — 591 Willis Ave, Williston Park, NY 11596
Frequently Asked Questions
What type of property is this?
Flex space - Open warehouse/flex space with renovated office in Mineola, NY.
Where is this flex space located?
The property is located at 88 Windsor Ave Mineola, NY.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Prime location in Mineola, Western Nassau County, with easy access to major highways and proximity to East Williston LIRR and Mineola Station.; Open warehouse/flex space with **14’–16’ clear ceiling heights** and **two (2) drive‑in overhead doors**.; Modern, renovated office space on 1st floor and mezzanine levels.
