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    Levittown Office Building For Rent Title is generated by Realmo AI

    3601 Hempstead Tpke, Levittown, NY 11756

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    Contemporary office building in a centralized Long Island location.

    Type:Retail, Restaurant
    Property size:
    90,000 SF
    Added:
    Oct 27, 2023
    Days on Market:
    950
    Last Refresh:
    May 12 at 9:40 pm

    Property Features for 3601 Hempstead Tpke

    General Information

    Standard status
    Active
    Size
    90,000 SF
    Property subtype
    Retail, Restaurant

    Building Details

    Year Built
    1970

    Spaces For Lease

    at 3601 Hempstead Tpke Contact us

    4TH FL, STE 405 $25/Mo

    Size
    1,854 SF
    Type
    Retail
    Contact us

    5Th floor- STE 504 $25/Mo

    Size
    985 SF
    Type
    Retail
    Contact us

    We can help!

    Listing Contact
    Timothy Parlante

    Listing agent Timothy Parlante License #NY

    Listing office The Feil Organization

    Listing date Oct 27, 2023

    Source Crexi

    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 The Feil Organization

    HighLights

    • Prime location on Hempstead Turnpike in Levittown, Nassau County.
    • Adjacent to Crescent Plaza and Nassau Mall retail centers (500,000 sq ft of shopping).
    • Only doorman building in the area with 24/7 access.
    • Close proximity to major roadways and public transportation.
    • Ample parking available.
    • Newly renovated, upscale lobby.

    Overview

    The property at 3601 Hempstead Turnpike is a contemporary, five-story office building located directly on Hempstead Turnpike in Levittown, Nassau County. Constructed in 1972, the building features a glass exterior and a newly renovated, brightly lit, upscale lobby. The building offers 90,000 square feet of space and 24/7 access. It is situated in a densely populated community and provides ample parking. This centralized Long Island location offers proximity to public transportation and major roadways, facilitating access to other Long Island destinations, Queens, and New York City. The property is located 1.3 miles from New Island Hospital in Bethpage and 3 miles from Nassau University Medical Center in East Meadow. It is also located minutes from the Seaford-Oyster Bay Expressway, Wantagh State Parkway, Southern State Parkway, Jerusalem Avenue, and the Long Island Expressway (I-495). The building is adjacent to Crescent Plaza and Nassau Mall retail centers, which together provide a 500,000 square foot shopping experience with retailers and restaurants such as TGIF, Loews Theatre, Michaels, BJ’s, Best Buy, Old Navy and Kohls. It is the only doorman building in the area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Rocco & Rocco Attorney ... Law Firm Anthony F. Russo ... Law Firm Systems Management Group (Bike/Boat/Book/etc) Store ESI Healthy Dentistry Dental Office Fortune Wheel Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Levittown
    County
    Nassau
    State
    New York
    Longitude
    -73.503821
    Latitude
    40.725669

    Nearby Similar for Lease

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      2,250 SF

      Retail Space on Hempstead Turnpike

      Retail space available in a densely populated Nassau County community.
      3601-3633 Hempstead Tpke, Levittown, NY
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      4,050 SF

      Retail Space For Lease

      Retail spaces available, divisible, with ample parking and high visibility.
      3695-3721 Hempstead Turnpike, Levittown, NY 11756
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      Levittown Retail Space Available

      Retail space available for rent in Levittown, New York.
      2705 Hempstead Tpke, Levittown, NY 11756
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      5,000 SF

      Levittown Retail Space Available

      5,000 SF retail property for lease in Levittown, NY.
      3171 Hempstead Tpke, Levittown, NY
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      6,956 SF

      Retail Space in Levittown

      Retail space with high visibility and accessibility in Levittown.
      3345-3371 Hempstead Tpke, Levittown, NY
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    • $25 SF/Yr

      Levittown Commercial Property For Rent

      Commercial property in Levittown with storefronts, office spaces, and parking.
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      Retail Space in Kohl's Plaza

      Prime retail spaces available in Levittown's Kohl's Plaza.
      3575-3675 Hempstead Turnpike, Levittown, NY 11750
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    FAQs

    What type of property is this?
    Office building - Contemporary office building in a centralized Long Island location.
    Where is this office building located?
    The property is located at 3601 Hempstead Tpke Levittown, NY.
    What is the lease rate?
    The lease rate is $25 SF/Yr.
    What are key features of this property?
    This property features: Prime location on Hempstead Turnpike in Levittown, Nassau County.; Adjacent to Crescent Plaza and Nassau Mall retail centers (500,000 sq ft of shopping).; Only doorman building in the area with 24/7 access.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Timothy Parlante
    Real Estate License ID: NY
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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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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