Prime Corner Property on Route
For Sale
$1,050,000
1 Arrowood Ln, Melville, NY 11747
Well-maintained 5-bedroom ranch with R7 potential on corner lot.
Property Size1,800 SF
Days on Market111
Property Features for 1 Arrowood Ln
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$17,985
Building Details
Building Size
1,800 SF
Listing Agency:
Realty Connect USA LLC
(631) 807-4979
Listed By:
Susan G. Belonzi
(631) 807-4979
Source:
Elliman
Added: Apr 21
Changed: Aug 8
Last Checked: Jul 15 at 10:56PM
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 Realty Connect USA LLC
Investment Insights
Based on property information with market context.
This well-maintained and thoughtfully renovated 5-bedroom ranch is positioned on the corner of Route 110 and Arrowood Lane. The property offers visibility and convenience, located moments from the Northern State Parkway and LIE 495. A nearby bus route enhances accessibility for commuters. The property is suitable for a home office or as an income-producing property. The property has potential R7 zoning (buyer to verify). The home includes central air conditioning and natural gas forced-air heating. A full basement provides storage and potential for additional living or workspace. The property includes a large yard ideal for entertaining, fully enclosed with white PVC fencing. Additional features include a separate hot water heater and the property is in excellent overall condition. The property is located within a highly regarded school district. The bike score is 29, indicating it is somewhat bikeable, and the walk score is 69, indicating it is somewhat walkable.
Key Highlights
- Prime corner location on Route 110 & Arrowood Lane with high visibility.
- Close proximity to Northern State Parkway and LIE 495 for easy commuting.
- Potential R7 zoning (buyer to verify) for home office or income property.
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
$32,044
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
3.05%
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%
$640,880
$640.9K
Cap Rate 7%
$457,771
$457.8K
Cap Rate 9%
$356,044
$356.0K
Market Conditions
NOI Build-Up for 1,800 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
$55.7K $30.96/SF
− Vacancy
−$4.5K −$2.48/SF
EGI
$51.3K $28.48/SF
− OpEx
−$19.2K −$10.68/SF
NOI
$32.0K $17.80/SF
Area
Suffolk County, NY
Vacancy
8.00%
Lease Rate
$30.96 /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%
$640,880
Cap Rate 7%
$457,771
Cap Rate 9%
$356,044
Alternative Uses
Best Use
Mixed Use
$457.8K
$400.6K – $534.1K
NOI $32,044 @ 7.0% cap · market cap 3.05%
Second Best
Office B
$442.2K
$386.9K – $515.9K
NOI $30,952 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$548.4K
$479.8K – $639.8K
NOI $38,385 @ 7.0% cap · market cap 3.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
548
Businesses Nearby
Explore this area
Business Placement
Demographics for 11747, NY
20,133
Population
7,871
Households
2.6
Avg Household Size
51
Median Age
62%
College-Educated
95%
High-School Grad
12.6 sq mi
ZIP Area
1,598
Density / Sq Mi
$154,914
Median Household Income
$78,688
Median Earnings
$3,501
Median Rent
$747,900
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Well-maintained 5-bedroom ranch with R7 potential on corner lot.
Where is this live-work space located?
The property is located at 1 Arrowood Ln Melville, NY.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Prime corner location on Route 110 & Arrowood Lane with high visibility.; Close proximity to Northern State Parkway and LIE 495 for easy commuting.; Potential R7 zoning (buyer to verify) for home office or income property.
