Retail Building with
For Sale
$2,350,000
2600-2610 Pettit Ave, Bellmore, NY 11710
Five-unit retail building features multiple offices, basement, rear yard, and 68 parking spaces.
Property Size9,000 SF
Price / SF$261.11
Days on Market125
Property Features for 2600-2610 Pettit Ave
General Information
Standard status
Active
Size
9,000 SF
Total Parking Spaces
68
Property subtype
Commercial
Zoning
481.4
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
9 ft
Heavy Power
Yes
Taxes and HOA fees
Annual Taxes
$53,545
Building Details
Building Size
9,000 SF
Year Built
1924
Units
5
Tenancy
Multi
Listing Agency:
All Island Estates Realty Corp
(516) 279-8828
Listed By:
Richard Matt Shane · License #10301216230
(516) 279-8828
Source:
Elliman
Added: Apr 28
Changed: Aug 23
Last Checked: Aug 29 at 2:06PM
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 All Island Estates Realty Corp
Investment Insights
Based on property information with market context.
A five-unit retail building offered for sale with multiple offices, a basement, and a rear yard. Improvements include all new LED lighting, 400 amp power, and CAC. The property includes 2 lots and is set up with a strategically placed curb cut and excellent signage. The building also has a cabaret license and was previously home to a bar/live music venue. The entire building can be delivered vacant if needed.
Located in the heart of Bellmore on Pettit Ave, the property sits at the Bellmore LIRR station and is about one block off Sunrise Highway. It is positioned between large municipal parking lots and is surrounded by a mix of established national and local retailers and services, including Starbucks, Stop & Shop, PetSmart, 7-Eleven, Dunkin’, CVS, Panera Bread, Verizon, P.C. Richard & Son, and Trader Joe’s.
Zoning is listed as 481.4, and the building provides 68 parking spaces.
Located in the heart of Bellmore on Pettit Ave, the property sits at the Bellmore LIRR station and is about one block off Sunrise Highway. It is positioned between large municipal parking lots and is surrounded by a mix of established national and local retailers and services, including Starbucks, Stop & Shop, PetSmart, 7-Eleven, Dunkin’, CVS, Panera Bread, Verizon, P.C. Richard & Son, and Trader Joe’s.
Zoning is listed as 481.4, and the building provides 68 parking spaces.
Key Highlights
- 5‑unit 9,000 SF retail building in Bellmore (built in 1924)
- 68 parking spaces with strategically placed curb cut across 2 lots
- Restaurant/bar use with cabaret license; previously operated as a bar/live music venue
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
$178,227
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
7.58%
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%
$3,564,540
$3.6M
Cap Rate 7%
$2,546,100
$2.5M
Cap Rate 9%
$1,980,300
$2.0M
Market Conditions
NOI Build-Up for 9,000 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
$270.0K $30.00/SF
− Vacancy
−$15.4K −$1.71/SF
EGI
$254.6K $28.29/SF
− OpEx
−$76.4K −$8.49/SF
NOI
$178.2K $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%
$3,564,540
Cap Rate 7%
$2,546,100
Cap Rate 9%
$1,980,300
Alternative Uses
Best Use
Specialty Retail
$5.95M
$5.21M – $6.94M
NOI $416,543 @ 7.0% cap · market cap 17.73%
Second Best
Retail
$2.55M
$2.23M – $2.97M
NOI $178,227 @ 7.0% cap · market cap 7.58%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
9 ft
Clear height
Multi-tenant
Tenancy
Yes
Heavy power
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,687
Businesses Nearby
Explore this area
Business Placement
Demographics for 11710, NY
35,155
Population
11,717
Households
3
Avg Household Size
43
Median Age
54%
College-Educated
97%
High-School Grad
4.9 sq mi
ZIP Area
7,174
Density / Sq Mi
$173,136
Median Household Income
$76,812
Median Earnings
$2,495
Median Rent
$647,000
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Five-unit retail building features multiple offices, basement, rear yard, and 68 parking spaces.
Where is this retail space located?
The property is located at 2600-2610 Pettit Ave Bellmore, NY.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: 5‑unit 9,000 SF retail building in Bellmore (built in 1924); 68 parking spaces with strategically placed curb cut across 2 lots; Restaurant/bar use with cabaret license; previously operated as a bar/live music venue
