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

    950 Jericho Turnpike Westbury, NY 11590

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

    2,906 SF office building with month-to-month tenants.

    Type:Office
    Property size:
    2,906 SF
    Price / SF:
    $498/SF
    Added:
    Jan 25, 2024
    Days on Market:
    819
    Last Refresh:
    Mar 17 at 1:25 pm

    Property Features for 950 Jericho Turnpike

    General Information

    Standard status
    Active
    Size
    2,906 SF
    Property subtype
    Office

    Building Details

    Year Built
    1958

    We can help!

    Listing Contact
    David Sargoy

    Listing agent David Sargoy License #NY

    Listing office Brown Harris Stevens Garden City

    Listing date Jan 25, 2024

    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 Brown Harris Stevens Garden City

    Overview

    Westbury Office Building For Sale

    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.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Manners & Malone, PLLC Law Firm David Ullman, P.C. Law Firm oof repairs llc Mobile Phone Store Iglesia Faro & Vida Church Amecan Inc. Financial Advisor

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Westbury
    County
    Nassau
    State
    New York
    Longitude
    -73.567813
    Latitude
    40.775877

    Nearby Similar for Sale

    • $4,500,000

      Established Automotive Shop For Sale

      Turnkey automotive business with property in high-traffic location.
      815 Old Country Road, Westbury, NY 11590
      View Details
    • $78,000

      Profitable Boba Tea Shop For Sale

      Established boba tea shop with stable customer base and equipment.
      247 Post Ave, Westbury, NY 11590
      View Details
    • $1,169,888

      Colonial Multifamily Property in Westbury

      Move-in ready multifamily home with spacious yard and modern amenities.
      32 Longfellow Avenue, Westbury, NY 11590
      View Details
    • $1,199,999

      Westbury Office Building For Sale

      Located in Westbury, near train, parkways, and shopping.
      57 Old Country Road, Westbury, NY 11590
      View Details
    • $1,200,000

      Westbury Commercial Building on Corner

      Well-maintained commercial building with excellent visibility and on-site parking.
      837 Old Country Road, Westbury, NY 11590
      View Details
    • $2,500,000
      6,200 SF

      Established Auto Body Shop For Sale

      Long-established auto body shop with real estate in Westbury, NY.
      248 Winthrop Ave, Westbury, NY 11590
      View Details
    • $589,000

      Westbury Duplex with Parking

      Duplex in Westbury, NY with two units and parking.
      813 Prospect Avenue, Westbury, NY 11590
      View Details
    • $6,300,000
      33,276 SF

      Westbury Road Office Property

      Office property for sale in Westbury, New York.
      990 Westbury Rd, Westbury, NY 11590
      View Details
    • Contact for pricing
      14,860 SF

      Westbury Industrial Property For Sale

      14,860 SF industrial property with 2,000 amps power.
      710 Summa Avenue, Westbury, NY, 11590
      View Details
    • $19,250,000
      9,444 SF

      Westbury Office Building For Rent

      Four-story office building with amenities in Westbury, New York.
      900 Merchants Concourse, Westbury, NY
      View Details
    • $989,000
      2,628 SF

      Spacious Hampton Model Home

      Spacious home with elevator, hardwood floors, and updated appliances.
      493 Pacing Way, Westbury, NY 11590
      View Details
    • Contact for pricing
      12,508 SF

      Westbury Industrial Property for Sale

      12,508 SF industrial property in Westbury, NY.
      33 Sylvester Street, Westbury, NY, 11590
      View Details

    FAQs

    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
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    David Sargoy
    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!