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    Merrick Mixed-Use Property For Sale Title is generated by Realmo AI

    174 Merrick Rd, Merrick, NY 11566

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    For Sale
    $729,000

    Mixed-use property with retail tenant and vacant flex space.

    Type:Commercial
    Property size:
    1,700 SF
    Lot size:
    0.05 Acres
    Price / SF:
    $428/SF
    Added:
    Mar 24, 2026
    Days on Market:
    57
    Last Refresh:
    Mar 21 at 8:08 am

    Property Features for 174 Merrick Rd

    General Information

    Standard status
    Active
    Size
    1,700 SF
    Lot size
    0.05 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1952

    We can help!

    Listing Contact
    Marc Jeret

    Listing agent Marc Jeret License #10401368899

    Listing office M & J Partners Realty LLC

    Listing date Mar 24, 2026

    Source Elliman

    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 M & J Partners Realty LLC

    HighLights

    • Credit retail tenant (Allstate Insurance) in place providing immediate income ($2678/month) with lease increases and renewal option.
    • Newly renovated vacant flex space suitable for apartment or office use, offering additional income potential.
    • Newly renovated large patio area, enhancing the appeal and usability of the flex space.
    • Mixed‑use property offering diverse income streams and investment opportunities.
    • Prime location in the heart of Merrick.
    • Total property size approximately 1700 sq ft, including retail, flex space, and patio.

    Overview

    This mixed-use property is located in the heart of Merrick. The property includes a retail space occupied by Allstate Insurance, paying $2678 per month, with a 3-year lease that includes increases and a renewal option. The retail space has been newly renovated. Additionally, there is a vacant flex space in the back, also newly renovated, suitable for use as an apartment or office. A large, newly renovated patio is also included. The property also features a shed and a shared driveway. The total area is approximately 1700 square feet, including the front retail space, the back flex office/apartment space, and the backyard patio, but not including the shared driveway in the measurements. Intended use for the vacant flex space is for apartment or office. Potential business uses include retail, office, or residential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Brad Rosenberg: Allstate ... Insurance Agency Allstate Insurance Agency Goli Realty Corp Real Estate Agency Garbage Collection Merrick Waste Management Facility

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Merrick
    County
    Nassau
    State
    New York
    Longitude
    -73.556069
    Latitude
    40.653789

    Nearby Similar for Sale

    • $2,625,000
      5,482 SF

      Renovated Commercial Building, North Merrick

      Updated commercial property in North Merrick with strong tenant mix.
      On Merrick Road Merrick Avenue, Merrick, NY 11566
      View Details
    • Contact for pricing
      22,865 SF

      Redevelopment Opportunity in High-Traffic Location

      1.5+ acre lot with redevelopment potential and existing building.
      4235 Merrick Rd, Merrick, NY
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with retail tenant and vacant flex space.
    Where is this mixed-use property located?
    The property is located at 174 Merrick Rd Merrick, NY.
    What is the asking price?
    The asking price for this property is $729,000.
    What are key features of this property?
    This property features: Credit retail tenant (Allstate Insurance) in place providing immediate income ($2678/month) with lease increases and renewal option.; Newly renovated vacant flex space suitable for apartment or office use, offering additional income potential.; Newly renovated large patio area, enhancing the appeal and usability of the flex space.
    (631) 839-3748
    We can help!
    Listing Contact
    Marc Jeret
    Real Estate License ID: 10401368899
    Learn More
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    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.

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