Modern Medical Condo For
For Sale
Contact for pricing
1575 Hillside Ave., New Hyde Park, NY 11040
Spacious medical condo with prime location and modern amenities.
Property Size1,475 SF
Price / SF$508.47
Days on Market856
Property Features for 1575 Hillside Ave.
General Information
Standard status
Active
Size
1,475 SF
Class
A
Property subtype
Office
Lease Type
NNN
Building Details
Buildings
1
Stories
3
Units
1
Tenancy
Single
Listing Agency:
Coldwell Banker Commercial AMH
(631) 903-3739
Listed By:
Anthony Briguglio · License #10491212878
Source:
Crexi
Added: Apr 8, 2024
Changed: Aug 8
Last Checked: Aug 10 at 9:19AM
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 Coldwell Banker Commercial AMH
Investment Insights
Based on property information with market context.
This 1,475 sq ft medical unit at 1575 Hillside Ave, Unit #200, offers an exceptional opportunity for a thriving medical practice. The unit features a waiting room, reception desk area, lab room, three exam rooms with sinks, and two consultation rooms. It also includes two half bathrooms and reserved parking. The building provides amenities such as a doorman, elevator access, and ample parking for patients, including covered parking for owners. Additional features include a phone system, windowed offices, a kitchen area, and a renovated lobby. The property is situated in a prime location with easy access to major hospitals like Northwell and LIJ, as well as proximity to highways, making it suitable for medical professionals seeking a bustling location.
Key Highlights
- Prime location in New Hyde Park with easy access to Northwell and LIJ hospitals and major highways.
- Spacious 1,485 sq ft medical unit with a functional layout including a waiting room, reception area, lab room, three exam rooms with sinks, and two consultation rooms.
- Reserved parking for owners and ample patient parking, including covered parking.
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
$25,877
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
3.45%
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%
$517,540
$517.5K
Cap Rate 7%
$369,671
$369.7K
Cap Rate 9%
$287,522
$287.5K
Market Conditions
NOI Build-Up for 1,475 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
$50.1K $33.96/SF
− Vacancy
−$7.0K −$4.72/SF
EGI
$43.1K $29.24/SF
− OpEx
−$17.3K −$11.70/SF
NOI
$25.9K $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%
$517,540
Cap Rate 7%
$369,671
Cap Rate 9%
$287,522
Alternative Uses
Best Use
Healthcare Medical
$369.7K
$323.5K – $431.3K
NOI $25,877 @ 7.0% cap · market cap 3.45%
Second Best
Office B
$362.3K
$317.0K – $422.7K
NOI $25,363 @ 7.0% cap · market cap 3.38%
Theoretical Best
Specialty Retail
$975.2K
$853.3K – $1.14M
NOI $68,267 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,092
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11040, NY
43,075
Population
14,608
Households
2.9
Avg Household Size
45
Median Age
56%
College-Educated
92%
High-School Grad
4.8 sq mi
ZIP Area
8,974
Density / Sq Mi
$153,511
Median Household Income
$70,649
Median Earnings
$2,388
Median Rent
$795,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Banfield Pet Hospital — 1600 Marcus Ave, New Hyde Park, NY 11040
Frequently Asked Questions
What type of property is this?
Medical Office Space - Spacious medical condo with prime location and modern amenities.
Where is this medical office space located?
The property is located at 1575 Hillside Ave. New Hyde Park, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Prime location in New Hyde Park with easy access to Northwell and LIJ hospitals and major highways.; Spacious 1,485 sq ft medical unit with a functional layout including a waiting room, reception area, lab room, three exam rooms with sinks, and two consultation rooms.; Reserved parking for owners and ample patient parking, including covered parking.
