Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2001 Marcus Ave New Hyde Park, NY 11042

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Strategically located office building in a vibrant Long Island corridor.

    Type:Office
    Property size:
    214,000 SF
    Added:
    Mar 15, 2022
    Days on Market:
    1499
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 2001 Marcus Ave

    General Information

    Standard status
    Active
    Size
    214,000 SF
    Property subtype
    Office

    Building Details

    Year Built
    1979

    Spaces For Lease

    at 2001 Marcus Ave Contact us

    We can help!

    Listing Contact
    Robert Fisher

    Listing agent Robert Fisher License #NY

    Listing office The Feil Organization

    Listing date Mar 15, 2022

    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

    Overview

    Modern Office Building in Lake Success

    Located in Lake Success, New York, 2001 Marcus Avenue is a 214,000 square foot, 3-story office building constructed in 1978. The property is situated in a centralized commercial corridor of Long Island, bordering Nassau and Queens Counties, and is approximately 15 minutes from Midtown Manhattan. Transportation options include proximity to LaGuardia and Kennedy Airports, the Long Island Expressway (I-495), the Cross Island Parkway, and the Northern State Parkway. Several Long Island Railroad commuter stations are also nearby. The building features covered parking and a ground floor atrium-styled café. Recent renovations include a lobby upgrade, a state-of-the-art energy management system, modernized elevators, a new roof, a fire alarm upgrade, and garage rehabilitation. The property is occupied by medical and professional service tenants, including Quest Diagnostics, LabCorp, and AT&T Wireless, and features outdoor landscaping.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    All Care Medical ... Medical Clinic Rosenbaum Design Group ... Architecture Firm Med men (Bike/Boat/Book/etc) Store Law Office Of Cohen ... Law Firm Steven Siegel Attorney ... Law Firm

    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
    New Hyde Park
    County
    Nassau
    State
    New York
    Longitude
    -73.691249
    Latitude
    40.757064

    Nearby Similar for Lease

    • Contact for pricing

      Medical Office Near North Shore

      Doctor's office near North Shore University Hospital in New Hyde Park.
      6 Tuxedo Avenue, New Hyde Park, NY 11040
      View Details
    • Sponsored
      Contact for pricing

      Lake Success

      1979 Marcus Ave, Unit 210, New Hyde Park, NY 11042
      View Details
    • Contact for pricing

      High-Traffic Retail Space Available

      Commercial space on Jericho Turnpike, ideal for various business uses.
      253 Jericho Tpke, New Hyde Park, NY 11040
      View Details
    • Contact for pricing

      Industrial Space Available For Lease

      Industrial space available for lease, totaling 3,830 square feet.
      55 Tulip Pl, New Hyde Park, NY 11040
      View Details
    • Contact for pricing

      Equipped Restaurant Space Available

      Second generation restaurant space for lease in Nassau County.
      909 Hillside Ave, New Hyde Park, NY
      View Details
    • Contact for pricing

      Retail Space with Basement

      1,000 SF retail space with basement and parking.
      27102-27120 Un Tpke, New Hyde Park, NY
      View Details
    • Contact for pricing

      Retail Space in New Hyde Park

      Retail space available for lease in New Hyde Park, NY.
      2079-2095 Hillside Avenue, New Hyde Park, NY, 11040
      View Details
    • Contact for pricing

      New Hyde Park Office Space

      Office building with 232,917 square feet available for rent.
      3400 New Hyde Park Road, New Hyde Park, NY, 11042
      View Details
    • Contact for pricing

      Prime Retail Space in Shopping Center

      Rare opportunity in a busy shopping center anchored by ShopRite.
      2317 Marcus Ave, New Hyde Park, NY
      View Details
    • Contact for pricing

      Former Drive-Thru Restaurant Space

      Corner location with drive-thru, suitable for various uses.
      938 Hillside Ave, New Hyde Park, NY
      View Details
    • Contact for pricing

      Dominant Grocer Anchored Retail Space

      Recently renovated shopping center with high traffic and dense population.
      2307-2348 Jericho Tpke, New Hyde Park, NY
      View Details
    • Contact for pricing

      Office Building Near Major Parkways

      Office building in park-like setting near LIE and Northern State.
      3333 New Hyde Park Rd, New Hyde Park, NY
      View Details

    FAQs

    What type of property is this?
    Office building - Strategically located office building in a vibrant Long Island corridor.
    Where is this office building located?
    The property is located at 2001 Marcus Ave New Hyde Park, NY.
    What are key features of this property?
    This property features: Prime location in Lake Success, Long Island, near Nassau and Queens Counties.; Easy access to major roadways including I‑495, Cross Island Parkway, and Northern State Parkway.; Just a 15‑minute drive to LaGuardia and Kennedy Airports.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Robert Fisher
    Real Estate License ID: NY
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!