Renovated Flex Space with Drive-In
For Sale
$1,549,000
312-314 Woodcleft Avenue, Freeport, NY 11520
Commercial Sale, Freeport, NY
Property Size5,600 SF
Lot Size0.24 Acres
Price / SF$276.61
Days on Market122
Property Features for 312-314 Woodcleft Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
455.04
Parking
12
Parking features
Parking Lot
Elementary school
Leo F Giblyn School
Middle school
John W Dodd Middle School
High school
Freeport High School
Elementary school district
Freeport
Middle school district
Freeport
High school district
Freeport
Standard status
Active
APN
2009-62-176-00-0399-0
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
17027
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
two 200-amp electric services
two gas meters
three separate heating zones
two bathrooms
two private offices
kitchenette
reception area
13.5-foot drive-in door
ceiling heights 14-25 ft
Building Details
Year built
1986
Floors in Building
2
Flooring type
Concrete
Building materials
Stone
Listing Agency:
Douglas Elliman Real Estate
(516) 623-4500
Listed By:
Paul A. Conforti · License #10301201366
(516) 322-3138
Added: May 6
Changed: Aug 19
Last Checked: Sep 4 at 6:06AM
MLS# 995986
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 freestanding flex property contains approximately 5,600 square feet on a 10,500-square-foot lot and was built in 1986. The renovated building is currently used by the owner for automotive sales and repair. Interior improvements include two private offices, a reception area, a kitchenette, two bathrooms, and concrete flooring. A 13.5-foot drive-in door and ceiling heights ranging from approximately 14 to 25 feet support a range of commercial operations.
The property includes approximately 5,700 square feet of parking and storage area. Building systems include two 200-amp electric services, two gas meters, three separate heating zones, central air, public water, and public sewer. The layout may be divided into two separate units. Zoning is identified as 455.04, with potential commercial uses subject to local requirements and approvals.
The property includes approximately 5,700 square feet of parking and storage area. Building systems include two 200-amp electric services, two gas meters, three separate heating zones, central air, public water, and public sewer. The layout may be divided into two separate units. Zoning is identified as 455.04, with potential commercial uses subject to local requirements and approvals.
Key Highlights
- Approximately 5,600 sq ft of interior space on a 10,500 sq ft lot
- 13.5‑foot drive‑in door with ceiling heights from approximately 14 to 25 feet
- Approximately 5,700 sq ft of parking and storage area
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
$110,897
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
7.16%
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%
$2,217,940
$2.2M
Cap Rate 7%
$1,584,243
$1.6M
Cap Rate 9%
$1,232,189
$1.2M
Market Conditions
NOI Build-Up for 5,600 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
$168.0K $30.00/SF
− Vacancy
−$9.6K −$1.71/SF
EGI
$158.4K $28.29/SF
− OpEx
−$47.5K −$8.49/SF
NOI
$110.9K $19.80/SF
Area
Nassau County, NY
Vacancy
5.70%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,217,940
Cap Rate 7%
$1,584,243
Cap Rate 9%
$1,232,189
Alternative Uses
Best Use
Retail
$1.58M
$1.39M – $1.85M
NOI $110,897 @ 7.0% cap · market cap 7.16%
Second Best
Warehouse
$1.39M
$1.22M – $1.62M
NOI $97,317 @ 7.0% cap · market cap 6.28%
Theoretical Best
Specialty Retail
$3.70M
$3.24M – $4.32M
NOI $259,182 @ 7.0% cap · market cap 16.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
100%
Occupancy
Single-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
379
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 11520, NY
45,121
Population
14,912
Households
3
Avg Household Size
39
Median Age
27%
College-Educated
86%
High-School Grad
5.1 sq mi
ZIP Area
8,847
Density / Sq Mi
$119,407
Median Household Income
$47,475
Median Earnings
$1,984
Median Rent
$480,600
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Freestanding commercial space with offices, reception, kitchenette, and adaptable areas that may be divided into two units.
Where is this flex space located?
The property is located at 312-314 Woodcleft Avenue Freeport, NY.
What is the asking price?
The asking price for this property is $1,549,000.
What are key features of this property?
This property features: Approximately 5,600 sq ft of interior space on a 10,500 sq ft lot; 13.5‑foot drive‑in door with ceiling heights from approximately 14 to 25 feet; Approximately 5,700 sq ft of parking and storage area
