Equipped Medical Office in
For Sale
Contact for pricing
877 Stewart Ave, Garden City, NY 11530
Fully equipped medical office space in a high-traffic location.
Property Size1,642 SF
Price / SF$517.66
Days on Market850
Property Features for 877 Stewart Ave
General Information
Standard status
Active
Size
1,642 SF
Property subtype
Office
Building Details
Year Built
1988
Listing Agency:
Coldwell Banker Commercial AMH
(631) 903-3739
Listed By:
Anthony Briguglio · License #10491212878
Source:
Crexi
Added: Apr 10, 2024
Changed: Jul 10
Last Checked: Aug 7 at 10:14AM
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.
Located in Garden City, NY, 877 Stewart Ave/Unit #5 is a medical office space featuring 4 exam rooms, a reception area, a waiting room with seating for 12, a kitchenette, 2 private offices, and a gym area. The layout is designed for patient comfort, staff convenience, and productivity, and includes a lab and storage. The property is situated in a high-traffic area near major highways and the Roosevelt Field Mall, offering accessibility and visibility. Over 250 parking spots are available, and public transportation options are nearby. A phone line is included. The property is suitable for medical professionals seeking a well-equipped space in a busy location. The property size is 1642 square feet.
Key Highlights
- Prime medical office space in a high‑traffic Garden City location near major highways and Roosevelt Field Mall.
- Fully equipped with 4 exam rooms, spacious reception and waiting areas, 2 private offices, kitchenette, lab, and storage.
- Over 250 parking spots and proximity to public transportation for easy accessibility.
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
$28,807
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
3.39%
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%
$576,140
$576.1K
Cap Rate 7%
$411,529
$411.5K
Cap Rate 9%
$320,078
$320.1K
Market Conditions
NOI Build-Up for 1,642 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
$55.8K $33.96/SF
− Vacancy
−$7.8K −$4.72/SF
EGI
$48.0K $29.24/SF
− OpEx
−$19.2K −$11.70/SF
NOI
$28.8K $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%
$576,140
Cap Rate 7%
$411,529
Cap Rate 9%
$320,078
Alternative Uses
Best Use
Healthcare Medical
$411.5K
$360.1K – $480.1K
NOI $28,807 @ 7.0% cap · market cap 3.39%
Second Best
Office B
$403.4K
$352.9K – $470.6K
NOI $28,235 @ 7.0% cap · market cap 3.32%
Theoretical Best
Specialty Retail
$1.09M
$950.0K – $1.27M
NOI $75,996 @ 7.0% cap · market cap 8.94%
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 - Fully equipped medical office space in a high-traffic location.
Where is this medical office space located?
The property is located at 877 Stewart Ave Garden City, NY.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Prime medical office space in a high‑traffic Garden City location near major highways and Roosevelt Field Mall.; Fully equipped with **4 exam rooms, spacious reception and waiting areas, 2 private offices, kitchenette, lab, and storage.**; Over 250 parking spots and proximity to public transportation for easy accessibility.
