Westbury Office Building For
For Sale
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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 Market1010
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
(917) 805-6441
Source:
Crexi
Added: Jan 25, 2024
Changed: Oct 25
Last Checked: Oct 30 at 2:28PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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 / Yr
$49,970
Cap Rate
3.45%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - 2,906 SF office building with month-to-month tenants.
Where is this office unit 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
