Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    East Rockaway Marina Development Opportunity Title is generated by Realmo AI

    84 76-78 Front Street, East Rockaway, NY 11518

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $995,000

    Marina in East Rockaway with development potential.

    Type:Commercial/Industrial
    Lot size:
    0.29 Acres
    Added:
    Dec 10, 2024
    Days on Market:
    528
    Last Refresh:
    May 19 at 8:53 pm

    Property Features for 84 76-78 Front Street

    General Information

    Standard status
    Active
    Lot size
    0.29 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1954

    We can help!

    Listing Contact
    Louisa Borriello
    Louisa Borriello

    Listing agent Louisa Borriello License #10301204630

    Listing office Charles Rutenberg Realty Inc

    Listing date Dec 10, 2024

    Source Exitrealty

    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 Charles Rutenberg Realty Inc

    HighLights

    • Permitted for 31 Docks
    • Boasting 160 feet of New Bulkhead
    • Located in Downtown Marine and Restaurant District
    • Located on East Rockaway Channel out to Reynolds Channel
    • Excellent opportunity for Development
    • One Income producing building

    Overview

    Located in the Downtown Marine and Restaurant District of East Rockaway, this property, formerly the Saltaire Marina, is being sold as is, cash only. The property consists of approximately 12,670 square feet and includes two buildings, one of which is income-producing. It features 160 feet of new bulkhead and is permitted for 31 docks. Situated on the East Rockaway Channel, with access to Reynolds Channel, this property presents a development opportunity for builders or investors.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Marinas

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    East Rockaway
    County
    Nassau
    State
    New York
    Longitude
    -73.660639
    Latitude
    40.637037

    Nearby Similar for Sale

    • $1,100,000

      East Rockaway Multifamily Property

      Two-family home with cottage and two-car garage on large lot.
      55 Prospect Avenue, East Rockaway, NY 11518
      View Details
    • $999,999

      East Rockaway Multi-Unit Property

      Multi-unit property in East Rockaway near shopping and transportation.
      76 2nd Avenue, East Rockaway, NY 11518
      View Details
    • $599,000

      East Rockaway Multifamily Property

      Legal two-family property near shopping and train station.
      47 4th Avenue, East Rockaway, NY 11518
      View Details
    • $779,000

      Charming Two-Family Home

      Two-family home with fireplace, screened porch, and backyard.
      39 Munson Place, East Rockaway, NY 11518
      View Details
    • $645,000
      1,600 SF

      Duplex Condo Near LIRR

      Duplex condo with modern amenities, near transportation and conveniences.
      311 Marina Pointe Drive H, East Rockaway, NY 11518
      View Details
    • $1,500,000

      Waterfront Mixed-Use Investment Opportunity

      Mixed-use property with waterfront commercial space and residential apartment.
      70 Front Street, East Rockaway, NY 11518
      View Details
    • $900,000
      475 SF

      Atlantic Avenue Retail Opportunity

      Former Dairy Barn suitable for retail or food service.
      560 Atlantic Ave, East Rockaway, NY 11518
      View Details

    FAQs

    What type of property is this?
    Marina - Marina in East Rockaway with development potential.
    Where is this marina located?
    The property is located at 84 76-78 Front Street East Rockaway, NY.
    What is the asking price?
    The asking price for this property is $995,000.
    What are key features of this property?
    This property features: Permitted for 31 Docks; Boasting 160 feet of New Bulkhead; Located in Downtown Marine and Restaurant District
    (516) 805-0318
    We can help!
    Listing Contact
    Louisa Borriello
    Louisa Borriello
    Real Estate License ID: 10301204630
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    84, 76-78 Front Street, East Rockaway, NY 11518
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!