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    1101 Stewart Ave Garden City, NY 11530

    Sponsored
    For Lease
    $42 SF/Yr

    Class A Suites, Central Nassau County

    Lot size:
    93,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional Class A medical office building, located at 1101 Stewart Avenue in Garden City, NY 11530, offers a prime opportunity for medical professionals seeking flexible and modern space. The three-story building boasts a total of 93,000 square feet, with five suites available. Multiple tenancy options exist, catering to a variety of practice sizes. Individual suites range from a minimum of 1,826 square feet to a maximum contiguous space of 6,481 square feet, providing ample room for growth and expansion. Currently, 9,639 square feet of space is vacant and ready for immediate occupancy. The building is situated in the desirable Garden City submarket within the Central Nassau County cluster, offering excellent visibility and accessibility. This professionally managed property provides a sophisticated and efficient environment for medical practices of all sizes. The building's prime location and high-quality construction make it an ideal choice for healthcare providers seeking a prestigious address in a thriving community. Contact us today to schedule a viewing and explore the possibilities of establishing your practice in this exceptional medical office building.

    Property Features for 1101 Stewart Ave

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    93,000 SF
    Class
    A
    Total Rate
    325500

    Building Details

    Stories
    3

    Unit(s) available at that property

    Space
    2nd Floor West - Suite 200
    Size
    6,481 SF
    Rate per SF
    $42
    Space
    3rd Floor West - Suite 301
    Size
    3,880 SF
    Rate per SF
    $42
    Space
    1st Floor West - Office/Medical Use
    Size
    6,852 SF
    Rate per SF
    $42

    HighLights

    • Multi‑million dollar renovation recently completed.
    • Convenient Meadowbrook Parkway (M3 West) access.
    • On‑site NICE bus stop.
    • Covered parking deck.
    • 24/7 building access with valet parking available.
    • Generous tenant improvement allowances offered.
    Property Profile Location Intelligence

    Current Use by Public Records

    Archer Consultants Business To Business Service Cascio-Leva Melissa MD Pediatrician De Rosa Orthopedic: ... Orthopedic Surgeon Cafferata Oral Surgery: ... Oral Surgeon Northwell Health At Home Home Health Care Service

    Suggested Use

    Realty agency Restaurant Building Supply Spa & Massage Dental Office Law Firm Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Garden City
    County
    Nassau
    State
    New York
    Longitude
    -73.59394125346
    Latitude
    40.735709890163

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    FAQs

    What type of property is this?
    Medical office - Class A Suites, Central Nassau County
    Where is this medical office located?
    The property is located at 1101 Stewart Ave Garden City, NY.
    What is the lease rate?
    The lease rate is $42 SF/Yr.
    What are key features of this property?
    This property features: Multi-million dollar renovation recently completed.; Convenient Meadowbrook Parkway (M3 West) access.; On-site NICE bus stop.
    Request Owner's contact information
    1101 Stewart Ave Garden City, NY 11530
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    Garden City, NY 11530
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1101 Stewart Ave Garden City, NY 11530
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