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

    245 Newtown Rd Plainview, NY 11803

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    15,028 SF Available, High-End Renovation

    Lot size:
    106,297 SF

    Property Features for 245 Newtown Rd

    General Information

    Property type
    Flex space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    106,297 SF
    Total Rate
    132428.35

    Spaces For Lease

    at 245 Newtown Rd, Plainview, NY 11803 Contact us
    Unit Available Space

    $14 /Mo

    Size
    15,028 SF
    Contact us

    We can help!

    Listing Contact
    David Hunt
    David Hunt

    Listing Agency: Hunt Corporate Services Inc Listing Agent: David Hunt

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 106,297 square foot flex building, located at 245 Newtown Road in Plainview, NY, offers a rare opportunity to lease 15,028 square feet of premium office and/or R&D space. The property boasts a complete renovation and is ideally situated just off the Long Island Expressway, providing unparalleled access and convenience. The building features a flexible layout suitable for a variety of uses, with a 22-foot ceiling height offering ample space and versatility. Ample parking is available with 315 spaces situated on a generous 6-acre lot, ensuring convenient access for employees and clients. The building includes two loading docks and one drive-in bay, catering to efficient logistics and material handling. The property is equipped with robust 600 amp electrical service, supporting the needs of modern businesses. This multi-tenant building in Nassau County offers a unique blend of functionality and accessibility, making it an ideal location for businesses seeking a modern and well-equipped workspace. The available space presents a chance to establish a prominent presence in a thriving Long Island business community. Contact us today to learn more about this exceptional opportunity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    More Than A Gym Medical Clinic Protection 1 Security ... Security Service Hippeas Food Processing Plant Alto Pharmacy Pharmacy Yelena Palazzo Physician

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Plainview
    County
    Nassau
    State
    New York
    Longitude
    -73.4502475
    Latitude
    40.7856106

    Nearby Similar for Lease

    • $3,666 /Mo
      1,100 SF

      Plainview Office Suite For Rent

      1,100 sqft office suite suitable for medical or professional use.
      1097 Old Country Rd, Plainview, NY 11803
      View Details
    • $15 SF/Yr
      5,000 SF

      Plainview Industrial Space Available

      5,000 square foot industrial space for lease in Plainview.
      30 Commercial Ct, Plainview, NY 11803
      View Details
    • $2,500 /Mo

      Lower Level Office Space

      Office space with private parking available for rent.
      811 Old Country Rd, Plainview, NY 11803
      View Details
    • Contact for pricing
      10,000 SF

      Retail Space in Plainview

      Retail property for lease in a high-traffic Plainview location.
      1000-1054 Old Country Rd, Plainview, NY 11803
      View Details
    • $6,275,000
      1,189 SF

      Plainview Office Building For Rent

      Office building with Long Island Expressway access available for rent.
      88 Sunnyside Blvd, Plainview, NY 11803
      View Details
    • Contact for pricing
      22,075 SF

      Plainview Retail Space Available

      Retail property available for lease in Plainview, New York.
      219 South Service Rd, Plainview, NY 11803
      View Details
    • Contact for pricing
      6,000 SF

      Medical Office Space Available

      6,000 SF medical office space for rent.
      1074 Old Country Rd, Plainview, NY 11803
      View Details
    • Contact for pricing
      4,700 SF

      Upscale Shopping Center For Rent

      Recently renovated upscale shopping center on Long Island's Gold Coast.
      401-445 S Oyster Bay Rd, Plainview, NY 11803
      View Details
    • Contact for pricing
      1,714 SF

      Retail Space in Lifestyle Community

      Retail space available within an upscale Long Island community.
      1481 Old Country Rd, Plainview, NY 11803
      View Details
    • Contact for pricing
      22,100 SF

      Long Island Warehouse and Office

      Warehouse and office space for rent in Long Island.
      1 Fairchild Ct, Plainview, NY 11803
      View Details
    • Contact for pricing
      1,607 SF

      Plainview Office Space Available

      Office space for rent with convenient highway access and parking.
      255 Executive Dr, Plainview, NY 11803
      View Details
    • Contact for pricing
      4,500 SF

      Retail Space in Manetto Hill

      Retail space available in Plainview's Manetto Hill Plaza.
      164 Manetto Hill Rd, Plainview, NY 11803
      View Details

    FAQs

    What type of property is this?
    Flex space - 15,028 SF Available, High-End Renovation
    Where is this flex space located?
    The property is located at 245 Newtown Rd Plainview, NY.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: 15,028 SF unit available for lease; 4,005 SF of office space; 22' clear ceiling height
    (631) 754-2300 Call to check price and availability
    Request Owner's contact information
    245 Newtown Rd Plainview, NY 11803
    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.
    245 Newtown Rd
    Plainview, NY 11803
    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
    245 Newtown Rd Plainview, NY 11803
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing David Hunt
    David Hunt
    (631) 754-2300 (516) 937-1000 (516) 807-1000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!