Westbury Office Building For
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950 Jericho Turnpike, Westbury, NY 11590
2,906 SF office building with month-to-month tenants.
Property Size2,906 SF
Price / SF$498.97
Days on Market964
Property Features for 950 Jericho Turnpike
General Information
Standard status
Active
Size
2,906 SF
Total Parking Spaces
12
Property subtype
Office
Zoning
Business A
Building Details
Year Built
1958
Stories
2
Tenancy
Multi
Listing Agency:
Helmsley Spear of Long Island
Listed By:
David Sargoy · License #NY
(516) 203-8134
Source:
Crexi
Added: Jan 25, 2024
Changed: Sep 13
Last Checked: Sep 14 at 7:51AM
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 Helmsley Spear of Long Island
Investment Insights
Based on property information with market context.
This commercial real estate property is a 2,906 square foot office building. The first floor is occupied by four tenants, all operating under month-to-month leases. The second floor, accessible via a walk-up entrance, is occupied by a single tenant with a private entrance, also on a month-to-month lease.
Key Highlights
- Fully built‑out space in a two‑story building
- Floor 1: 4 tenants, month‑to‑month leases
- Floor 2: Single tenant, month‑to‑month lease
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
$49,970
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%
$999,400
$999.4K
Cap Rate 7%
$713,857
$713.9K
Cap Rate 9%
$555,222
$555.2K
Market Conditions
NOI Build-Up for 2,906 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
$81.3K $27.96/SF
− Vacancy
−$14.6K −$5.03/SF
EGI
$66.6K $22.93/SF
− OpEx
−$16.7K −$5.73/SF
NOI
$50.0K $17.20/SF
Area
Nassau County, NY
Vacancy
18.00%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
25.00%
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%
$999,400
Cap Rate 7%
$713,857
Cap Rate 9%
$555,222
Alternative Uses
Best Use
Office B
$713.9K
$624.6K – $832.8K
NOI $49,970 @ 7.0% cap · market cap 3.45%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.92M
$1.68M – $2.24M
NOI $134,497 @ 7.0% cap · market cap 9.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
860
Businesses Nearby
Explore this area
Business Placement
Demographics for 11590, NY
47,838
Population
15,497
Households
3.1
Avg Household Size
40
Median Age
40%
College-Educated
87%
High-School Grad
6.7 sq mi
ZIP Area
7,140
Density / Sq Mi
$149,250
Median Household Income
$56,520
Median Earnings
$2,209
Median Rent
$616,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - 2,906 SF office building with month-to-month tenants.
Where is this office units located?
The property is located at 950 Jericho Turnpike Westbury, NY.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Fully built‑out space in a two‑story building; Floor 1: 4 tenants, month‑to‑month leases; Floor 2: Single tenant, month‑to‑month lease
