Building Details

Building Size 1,350 SF

Year Built 1965

Listing Agency: Laffey International Realt Estate

Listed By: Nanci Sue Rosenthal Show Phone

Source: Elliman

Added: Nov 27, 2025 Changed: Oct 3 Last Checked: Oct 5 at 7:43PM

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Investment Insights

Based on property information with market context.

An apartment building is available for sale. The list price is $599,000.

Key Highlights

• Year Built: 1965

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,081

Cap Rate

4.93%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$481,620 $481.6K

Cap Rate 7%

$344,014 $344.0K

Cap Rate 9%

$267,567 $267.6K

Market Conditions

NOI Build-Up for 1,350 SF

Gross rent

$45.8K $33.96/SF

− Vacancy

−$2.1K −$1.53/SF

EGI

$43.8K $32.43/SF

− OpEx

−$19.7K −$14.59/SF

NOI

$24.1K $17.84/SF

Area

Nassau County, NY

Vacancy

4.50%

Lease Rate

$33.96 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$481,620

Cap Rate 7%

$344,014

Cap Rate 9%

$267,567

Alternative Uses

Best Use

Apartment 5plus

$344.0K

$301.0K – $401.4K (±1% cap)

NOI $24,081 @ 7.0% cap · market cap 4.93%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$892.6K

$781.0K – $1.04M (±1% cap)

NOI $62,481 @ 7.0% cap · market cap 12.80%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Apartment buildings

Location Intelligence

Trade Area within ½ mile

624

Businesses Nearby

Explore this area Business Placement

Demographics for 11557, NY

8,659

Population

2,792

Households

3.1

Avg Household Size

43

Median Age

65%

College-Educated

92%

High-School Grad

2.0 sq mi

ZIP Area

4,330

Density / Sq Mi

$170,048

Median Household Income

$75,469

Median Earnings

$2,287

Median Rent

$708,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Apartment building - Apartment building for sale in Hewlett, New York.

Where is this apartment building located?

The property is located at 1390 Broadway 118 Hewlett, NY.

What is the asking price?

The asking price for this property is $488,000.

What are key features of this property?

This property features: Year Built: 1965