Mixed-Use Property with Renovated
For Sale
$1,700,000
1168-1170 Port Washington Boulevard Unit 1168-1170, Port Washington, NY 11050
The property combines retail frontage, office accommodations, and a separate two-family residence on one lot.
Property Size6,912 SF
Price / SF$245.95
Days on Market9
Property Features for 1168-1170 Port Washington Boulevard Unit 1168-1170
General Information
Standard status
Active
Size
6,912 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$48,034
Building Details
Building Size
6,912 SF
Year Built
1961
Listing Agency:
Harding Real Estate Inc
(516) 944-3870
Listed By:
Debra OBrien
Source:
Luxuryhomeny
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 23 at 6:25AM
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 Harding Real Estate Inc
Investment Insights
Based on property information with market context.
This mixed-use property includes a commercial building with a storefront, office areas, and a full basement. The second floor has its own entrance and contains three newly renovated offices, creating a distinct office component within the building. The commercial structure was built in 1961.
A separate two-story, two-family house is also located on the same lot, adding a residential component to the property. Together, the buildings provide a combination of commercial and residential improvements in Port Washington, New York.
A separate two-story, two-family house is also located on the same lot, adding a residential component to the property. Together, the buildings provide a combination of commercial and residential improvements in Port Washington, New York.
Key Highlights
- Three newly renovated offices on the second floor
- Separate entrance serving the second‑floor offices
- Storefront, office areas, and full basement in the commercial building
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
$136,878
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
8.05%
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%
$2,737,560
$2.7M
Cap Rate 7%
$1,955,400
$2.0M
Cap Rate 9%
$1,520,867
$1.5M
Market Conditions
NOI Build-Up for 6,912 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
$207.4K $30.00/SF
− Vacancy
−$11.8K −$1.71/SF
EGI
$195.5K $28.29/SF
− OpEx
−$58.7K −$8.49/SF
NOI
$136.9K $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%
$2,737,560
Cap Rate 7%
$1,955,400
Cap Rate 9%
$1,520,867
Alternative Uses
Best Use
Retail
$1.96M
$1.71M – $2.28M
NOI $136,878 @ 7.0% cap · market cap 8.05%
Second Best
Multifamily LT 5
$1.88M
$1.65M – $2.19M
NOI $131,682 @ 7.0% cap · market cap 7.75%
Theoretical Best
Specialty Retail
$4.57M
$4.00M – $5.33M
NOI $319,905 @ 7.0% cap · market cap 18.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,292
Businesses Nearby
Explore this area
Business Placement
Demographics for 11050, NY
31,512
Population
12,329
Households
2.6
Avg Household Size
44
Median Age
67%
College-Educated
96%
High-School Grad
10.1 sq mi
ZIP Area
3,120
Density / Sq Mi
$153,819
Median Household Income
$78,132
Median Earnings
$2,454
Median Rent
$990,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines retail frontage, office accommodations, and a separate two-family residence on one lot.
Where is this mixed-use property located?
The property is located at 1168-1170 Port Washington Boulevard Unit 1168-1170 Port Washington, NY.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Three newly renovated offices on the second floor; Separate entrance serving the second‑floor offices; Storefront, office areas, and full basement in the commercial building
