Three-Unit Corner
New
For Sale
$749,999
120 Rockaway Ave, Valley Stream, NY 11580
Fully occupied corner property with all-brick construction and street parking.
Property Size3,420 SF
Days on Market3
Property Features for 120 Rockaway Ave
General Information
Standard status
Active
Size
3,420 SF
Property subtype
Commercial
Occupancy
100%
Additional Details
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$20,229
Building Details
Building Size
3,420 SF
Year Built
1921
Buildings
1
Units
3
Construction
brick
Tenancy
Multi
Listing Agency:
Bird & Swing LLC
(631) 223-6530
Listed By:
Varun V. Suchdeve · License #10301224496
(631) 223-6530
Source:
Elliman
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 30 at 4:16PM
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 Bird & Swing LLC
Investment Insights
Based on property information with market context.
This three-unit storefront property at 120 Rockaway Ave in Valley Stream, NY, is fully occupied and constructed with all-brick exterior walls. The building occupies a corner position at Rockaway Avenue and W Mineola Avenue, providing exposure along two streets. Street parking is available for visitors and customers.
Constructed in 1921, the property offers an established commercial configuration with three occupied units. Its location records a 92 walk score, 57 transit score, and 52 bike score, reflecting access by multiple transportation modes.
Constructed in 1921, the property offers an established commercial configuration with three occupied units. Its location records a 92 walk score, 57 transit score, and 52 bike score, reflecting access by multiple transportation modes.
Key Highlights
- Three commercial units, all fully occupied
- Corner position at Rockaway Avenue and W Mineola Avenue
- All‑brick construction
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
$67,726
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
9.03%
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%
$1,354,520
$1.4M
Cap Rate 7%
$967,514
$967.5K
Cap Rate 9%
$752,511
$752.5K
Market Conditions
NOI Build-Up for 3,420 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
$102.6K $30.00/SF
− Vacancy
−$5.8K −$1.71/SF
EGI
$96.8K $28.29/SF
− OpEx
−$29.0K −$8.49/SF
NOI
$67.7K $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%
$1,354,520
Cap Rate 7%
$967,514
Cap Rate 9%
$752,511
Alternative Uses
Best Use
Retail
$967.5K
$846.6K – $1.13M
NOI $67,726 @ 7.0% cap · market cap 9.03%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.26M
$1.98M – $2.64M
NOI $158,286 @ 7.0% cap · market cap 21.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,928
Businesses Nearby
17k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Dunkin' Donuts
Dining
16,695 visits/mo
0.3 miles
Demographics for 11580, NY
43,026
Population
13,582
Households
3.2
Avg Household Size
41
Median Age
38%
College-Educated
89%
High-School Grad
3.9 sq mi
ZIP Area
11,032
Density / Sq Mi
$135,385
Median Household Income
$56,417
Median Earnings
$1,852
Median Rent
$602,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Fully occupied corner property with all-brick construction and street parking.
Where is this storefront property located?
The property is located at 120 Rockaway Ave Valley Stream, NY.
What is the asking price?
The asking price for this property is $749,999.
What are key features of this property?
This property features: Three commercial units, all fully occupied; Corner position at Rockaway Avenue and W Mineola Avenue; All‑brick construction
