Three-Bay Auto Shop with Outdoor
For Sale
$1,199,000
Pending
478 Jerusalem Ave, Uniondale, NY 11553
Newly renovated three-bay auto shop with front office, multiple entrances, and an outdoor lot for vehicle storage and parking.
Property Size2,400 SF
Days on Market130
Property Features for 478 Jerusalem Ave
General Information
Standard status
Pending
Size
2,400 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Service Bays
3
Taxes and HOA fees
Annual Taxes
$12,051
Building Details
Building Size
2,400 SF
Listing Agency:
Douglas Elliman Real Estate
Listed By:
Glen Fox · License #10401340274
(516) 850-6437
Source:
Elliman
Added: Apr 28
Changed: Aug 24
Last Checked: Sep 1 at 9:16PM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This newly renovated three-bay auto shop offers over 15-foot ceiling heights and a layout designed for service and storage. The property includes three carports, multiple entrances, a front office, and ample storage throughout. The site has been updated with electric, utilities, and mechanical equipment for a turnkey operating setup.
The outdoor area includes a large lot intended for storage and parking for more than 30 vehicles. Easy access for showings is noted in the remarks, with the property described as conveniently located near major roads and highways and close to Hofstra University and nearby sporting arenas.
With its bays, office, and dedicated carport and outdoor parking components, the property presents a practical configuration for an automotive service operation that needs both indoor workspace and capacity outdoors.
The outdoor area includes a large lot intended for storage and parking for more than 30 vehicles. Easy access for showings is noted in the remarks, with the property described as conveniently located near major roads and highways and close to Hofstra University and nearby sporting arenas.
With its bays, office, and dedicated carport and outdoor parking components, the property presents a practical configuration for an automotive service operation that needs both indoor workspace and capacity outdoors.
Key Highlights
- Newly renovated three‑bay auto shop with front office, multiple entrances, and ample storage throughout
- Over 15‑foot ceiling heights in the shop area
- Three carports plus outdoor lot for storage and parking for over 30 vehicles
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
$47,527
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
3.96%
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%
$950,540
$950.5K
Cap Rate 7%
$678,957
$679.0K
Cap Rate 9%
$528,078
$528.1K
Market Conditions
NOI Build-Up for 2,400 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
$72.0K $30.00/SF
− Vacancy
−$4.1K −$1.71/SF
EGI
$67.9K $28.29/SF
− OpEx
−$20.4K −$8.49/SF
NOI
$47.5K $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%
$950,540
Cap Rate 7%
$678,957
Cap Rate 9%
$528,078
Alternative Uses
Best Use
Retail
$679.0K
$594.1K – $792.1K
NOI $47,527 @ 7.0% cap · market cap 3.96%
Second Best
Industrial
$490.7K
$429.3K – $572.5K
NOI $34,347 @ 7.0% cap · market cap 2.86%
Theoretical Best
Specialty Retail
$1.59M
$1.39M – $1.85M
NOI $111,078 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Service bays
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,044
Businesses Nearby
74k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 56%
Shops & Services 34%
Dining 8%
Electronics 2%
C-Town Supermarkets
Groceries
22,746 visits/mo
0.4 miles
Super Foodtown
Groceries
18,624 visits/mo
0.4 miles
7-Eleven
Shops & Services
10,227 visits/mo
0.4 miles
Citibank
Shops & Services
9,729 visits/mo
0.4 miles
Conoco
Shops & Services
5,036 visits/mo
0.3 miles
Demographics for 11553, NY
26,929
Population
7,365
Households
3.7
Avg Household Size
36
Median Age
22%
College-Educated
82%
High-School Grad
3.2 sq mi
ZIP Area
8,415
Density / Sq Mi
$105,994
Median Household Income
$41,564
Median Earnings
$2,122
Median Rent
$486,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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- Nassau Road Auto Repair — 739 Nassau Rd, Uniondale, NY 11553
- Darwin Mobile Mechanic — 871 Uniondale Ave, Uniondale, NY 11553
Frequently Asked Questions
What type of property is this?
Auto shop - Newly renovated three-bay auto shop with front office, multiple entrances, and an outdoor lot for vehicle storage and parking.
Where is this auto shop located?
The property is located at 478 Jerusalem Ave Uniondale, NY.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Newly renovated three‑bay auto shop with front office, multiple entrances, and ample storage throughout; Over 15‑foot ceiling heights in the shop area; Three carports plus outdoor lot for storage and parking for over 30 vehicles
