Mixed-Use Retail and
For Sale
$9,200,000
1080 New York Ave, Huntington Station, NY 11746
Newly built mixed-use property with ground-floor retail and sixteen one-bedroom apartments plus parking garage.
Property Size24,500 SF
Lot Size0.23 Acres
Price / SF$375.51
Days on Market49
Property Features for 1080 New York Ave
General Information
Standard status
Active
Size
24,500 SF
Lot size
0.23 Acres
Property subtype
Mixed-Use
Occupancy
100%
Additional Details
Cap Rate
5.58%
Multifamily Units
16
Amenities
Built in 2023, the subject property rests on a 0.23-acre parcel with approximately 24,500 square feet of space.
There are sixteen (16) one-bedroom/one-bath apartments and two (2) commercial ground floor retail spaces.
The luxury units have in-unit washer/dryer, quartz counter tops, vinyl flooring, gas cooking, and a balcony or private porch in each unit, on-site parking garage.
The property is also a short distance from the Huntington Station LIRR Train Station.
Building Details
Building Size
24,500 SF
Year Built
2023
Units
16
Listing Agency:
Marcus & Millichap - Manhattan
(212) 430-5196
Listed By:
Mike Tuccillo · License #License(s): NY: 10301217094, NY: 10491208938
(212) 430-5196
Source:
Marcusmillichap
Added: Jul 9
Changed: Aug 8
Last Checked: Aug 26 at 5:32AM
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 Marcus & Millichap - Manhattan
Investment Insights
Based on property information with market context.
Northridge Square is a mixed-use property built in 2023 offering two ground-floor commercial retail spaces and sixteen one-bedroom, one-bath apartments. Residential units include in-unit washer/dryer, quartz countertops, vinyl flooring, gas cooking, and a balcony or private porch in each apartment, supported by an on-site parking garage.
The property is located at 1080 New York Avenue in Huntington Station, NY, and is described as being near national retailers including Home Depot, Old Navy, Marshalls, and 7-Eleven. The Huntington Station LIRR Train Station is also identified as being within a short distance.
This offering combines new residential design with street-level retail within a single parcel, providing a straightforward multi-use configuration for investors or operators seeking both apartment and commercial income streams.
The property is located at 1080 New York Avenue in Huntington Station, NY, and is described as being near national retailers including Home Depot, Old Navy, Marshalls, and 7-Eleven. The Huntington Station LIRR Train Station is also identified as being within a short distance.
This offering combines new residential design with street-level retail within a single parcel, providing a straightforward multi-use configuration for investors or operators seeking both apartment and commercial income streams.
Key Highlights
- Mixed‑use property at 1080 New York Avenue, Huntington Station, NY, built in 2023
- Approximately 24,500 SF on a 0.23‑acre parcel, including 16 one‑bedroom/one‑bath apartments and 2 ground‑floor retail units
- In‑unit washer/dryer, quartz countertops, vinyl flooring, gas cooking, and a balcony or private porch in each apartment unit
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
$478,999
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
5.21%
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%
$9,579,980
$9.6M
Cap Rate 7%
$6,842,843
$6.8M
Cap Rate 9%
$5,322,211
$5.3M
Market Conditions
NOI Build-Up for 24,500 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
$735.0K $30.00/SF
− Vacancy
−$50.7K −$2.07/SF
EGI
$684.3K $27.93/SF
− OpEx
−$205.3K −$8.38/SF
NOI
$479.0K $19.55/SF
Area
Suffolk County, NY
Vacancy
6.90%
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%
$9,579,980
Cap Rate 7%
$6,842,843
Cap Rate 9%
$5,322,211
Alternative Uses
Best Use
Retail
$6.84M
$5.99M – $7.98M
NOI $478,999 @ 7.0% cap · market cap 5.21%
Second Best
Apartment 5plus
$6.22M
$5.44M – $7.26M
NOI $435,426 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$7.46M
$6.53M – $8.71M
NOI $522,469 @ 7.0% cap · market cap 5.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
1,103
Businesses Nearby
Explore this area
Business Placement
Demographics for 11746, NY
69,040
Population
22,528
Households
3.1
Avg Household Size
40
Median Age
50%
College-Educated
90%
High-School Grad
24.1 sq mi
ZIP Area
2,865
Density / Sq Mi
$158,309
Median Household Income
$66,581
Median Earnings
$1,907
Median Rent
$664,900
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Apartment building - Newly built mixed-use property with ground-floor retail and sixteen one-bedroom apartments plus parking garage.
Where is this apartment building located?
The property is located at 1080 New York Ave Huntington Station, NY.
What is the asking price?
The asking price for this property is $9,200,000.
What are key features of this property?
This property features: Mixed‑use property at 1080 New York Avenue, Huntington Station, NY, built in 2023; Approximately 24,500 SF on a 0.23‑acre parcel, including 16 one‑bedroom/one‑bath apartments and 2 ground‑floor retail units; In‑unit washer/dryer, quartz countertops, vinyl flooring, gas cooking, and a balcony or private porch in each apartment unit
