Transit-Oriented Mixed-Use
For Sale
Contact for pricing
13 MYRTLE ST, Manhasset, NY 11030
The building can be configured for office, light industrial, and residential apartment uses and carries Business B zoning.
Property Size6,000 SF
Price / SF$415
Days on Market20
Property Features for 13 MYRTLE ST
General Information
Standard status
Active
Size
6,000 SF
Class
B
Total Parking Spaces
8
Property subtype
Office, Industrial, Mixed Use
Zoning
Business B
Occupancy
30%
Lease Type
Gross
Investment Type
Owner/User
Building Details
Year Built
1950
Buildings
1
Stories
3
Units
3
Tenancy
Multi
Listing Agency:
Sovereign Realty Group
Listed By:
Clem Cote' · License #NY 10491203246
Source:
Crexi
Added: Aug 12
Changed: Aug 31
Last Checked: Aug 31 at 8:42AM
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 Sovereign Realty Group
Investment Insights
Based on property information with market context.
Located at 13 Myrtle Street in Manhasset downtown, this mixed-use building was constructed in 1950 and offers a combination of adaptable commercial and residential potential. The property features tall ceilings, expansive windows, and tin roof ceilings within the stairwell. Its configuration can accommodate office, light industrial, and residential apartment layouts, with Business B zoning identified for the property.
The building is within walking distance of the Long Island Railroad’s Manhasset Train Station, providing convenient rail access for employees and clients. The surrounding market includes more than 364,000 residents within a 5-mile radius, while the 1-mile area reports median income exceeding $219,000 and median home values of $1,100,000.
The building is within walking distance of the Long Island Railroad’s Manhasset Train Station, providing convenient rail access for employees and clients. The surrounding market includes more than 364,000 residents within a 5-mile radius, while the 1-mile area reports median income exceeding $219,000 and median home values of $1,100,000.
Key Highlights
- Business B zoning
- Configurable for office, light industrial, and residential apartment layouts
- Within walking distance of the Long Island Railroad’s Manhasset Train Station
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
$103,172
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
4.14%
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%
$2,063,440
$2.1M
Cap Rate 7%
$1,473,886
$1.5M
Cap Rate 9%
$1,146,356
$1.1M
Market Conditions
NOI Build-Up for 6,000 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
$167.8K $27.96/SF
− Vacancy
−$30.2K −$5.03/SF
EGI
$137.6K $22.93/SF
− OpEx
−$34.4K −$5.73/SF
NOI
$103.2K $17.20/SF
Area
Nassau County, NY
Vacancy
18.00%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
25.00%
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%
$2,063,440
Cap Rate 7%
$1,473,886
Cap Rate 9%
$1,146,356
Alternative Uses
Best Use
Office B
$1.47M
$1.29M – $1.72M
NOI $103,172 @ 7.0% cap · market cap 4.14%
Second Best
Industrial
$1.23M
$1.07M – $1.43M
NOI $85,868 @ 7.0% cap · market cap 3.45%
Theoretical Best
Specialty Retail
$3.97M
$3.47M – $4.63M
NOI $277,695 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,722
Businesses Nearby
Explore this area
Business Placement
Demographics for 11030, NY
17,898
Population
6,531
Households
2.7
Avg Household Size
44
Median Age
84%
College-Educated
97%
High-School Grad
6.6 sq mi
ZIP Area
2,712
Density / Sq Mi
$247,393
Median Household Income
$109,706
Median Earnings
$2,221
Median Rent
$1,800,900
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The building can be configured for office, light industrial, and residential apartment uses and carries Business B zoning.
Where is this mixed-use property located?
The property is located at 13 MYRTLE ST Manhasset, NY.
What is the asking price?
The asking price for this property is $2,490,000.
What are key features of this property?
This property features: Business B zoning; Configurable for office, light industrial, and residential apartment layouts; Within walking distance of the Long Island Railroad’s Manhasset Train Station
