Two-Building Mixed-Use
For Sale
$4,300,000
29 & 21-23 Broadway, Lynbrook, NY 11563
Commercial Sale, Lynbrook, NY
Property Size28,164 SF
Lot Size0.71 Acres
Price / SF$152.68
Days on Market96
Property Features for 29 & 21-23 Broadway
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
C, X
Rooms
Basement
Parking
3000
Parking features
Driveway
Fencing
Chain Link
Basement
Finished
Lot features
Paved
Elementary school district
Lynbrook
Middle school district
Lynbrook
High school district
Lynbrook
Standard status
Active
Lot size
0.71 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
63255
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Amenities
high ceilings
skylight
central air conditioning
exceptional signage
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Building materials
Frame
Listing Agency:
Coldwell Banker American Homes · Coldwell Banker Real Estate
(516) 665-2000
Listed By:
Aideen Duignan
(800) 270-6318
Added: Jul 2
Changed: Aug 19
Last Checked: Oct 5 at 11:06AM
MLS# 1019407
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property comprises two commercial buildings with office and multi-purpose functionality. The improvements include high ceilings, a skylight, central air conditioning, forced-air heating, a driveway, chain-link fencing, and a basement. The buildings date to 1920 and are served by public sewer. The property carries C, X zoning and occupies a 0.714-acre site.
The asset is located at 29 & 21-23 Broadway in Lynbrook, two blocks from the Lynbrook LIRR station and positioned between Broadway and Merrick Road. Nearby commercial operators include Starbucks, Audi, Acura, Volkswagen, Northwell Health, Bethpage Federal Credit Union, Dunkin', McDonald's, Enterprise Rent-A-Car, Regal Cinemas, and other established businesses. Reported daily traffic exceeds 20,000 vehicles, supporting a highly visible commercial setting.
The asset is located at 29 & 21-23 Broadway in Lynbrook, two blocks from the Lynbrook LIRR station and positioned between Broadway and Merrick Road. Nearby commercial operators include Starbucks, Audi, Acura, Volkswagen, Northwell Health, Bethpage Federal Credit Union, Dunkin', McDonald's, Enterprise Rent-A-Car, Regal Cinemas, and other established businesses. Reported daily traffic exceeds 20,000 vehicles, supporting a highly visible commercial setting.
Key Highlights
- Two‑building mixed‑use property with office and multi‑purpose functionality
- 0.714‑acre site at 29 & 21‑23 Broadway, Lynbrook, NY 11563
- Two blocks from the Lynbrook LIRR station
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
$388,663
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
9.04%
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%
$7,773,260
$7.8M
Cap Rate 7%
$5,552,329
$5.6M
Cap Rate 9%
$4,318,478
$4.3M
Market Conditions
NOI Build-Up for 28,164 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
$675.9K $24.00/SF
− Vacancy
−$54.1K −$1.92/SF
EGI
$621.9K $22.08/SF
− OpEx
−$233.2K −$8.28/SF
NOI
$388.7K $13.80/SF
Area
Nassau County, NY
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$7,773,260
Cap Rate 7%
$5,552,329
Cap Rate 9%
$4,318,478
Alternative Uses
Best Use
Retail
$7.97M
$6.97M – $9.30M
NOI $557,732 @ 7.0% cap · market cap 12.97%
Second Best
Office B
$6.92M
$6.05M – $8.07M
NOI $484,291 @ 7.0% cap · market cap 11.26%
Theoretical Best
Specialty Retail
$18.62M
$16.29M – $21.73M
NOI $1,303,500 @ 7.0% cap · market cap 30.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
20,000 VPD
Traffic count
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,193
Businesses Nearby
Explore this area
Business Placement
Demographics for 11563, NY
23,349
Population
8,088
Households
2.9
Avg Household Size
43
Median Age
44%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
10,152
Density / Sq Mi
$138,006
Median Household Income
$65,565
Median Earnings
$2,173
Median Rent
$595,500
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-building commercial asset with office and multi-purpose functionality, central air conditioning, high ceilings, and on-site parking.
Where is this mixed-use property located?
The property is located at 29 & 21-23 Broadway Lynbrook, NY.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: Two‑building mixed‑use property with office and multi‑purpose functionality; 0.714‑acre site at 29 & 21‑23 Broadway, Lynbrook, NY 11563; Two blocks from the Lynbrook LIRR station
