Waterfront Triplex With Boat
New
For Sale
$2,000,000
64 Mowbray Ave, Bayshore, NY 11706
Three-unit waterfront property with private docking, pool, hot tub, and outdoor entertaining areas.
Property Size6,354 SF
Days on Market2
Property Features for 64 Mowbray Ave
General Information
Standard status
Active
Size
6,354 SF
Property subtype
Investment
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$37,559
Amenities
in-ground pool
in-ground hot tub
brick outdoor kitchen
expansive paver patio
private boat slips
Building Details
Building Size
6,354 SF
Year Built
1902
Units
3
Listing Agency:
(631) 804-0606
Listed By:
Thomas R. Hengen PSA SFR
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 4:24AM
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 Thomas R. Hengen PSA SFR
Investment Insights
Based on property information with market context.
Built in 1902, this triplex combines nine bedrooms and nine bathrooms with a substantial waterfront setting along Penataquit Canal. Five bedrooms include private en-suite bathrooms. The property offers more than 180 feet of waterfront, 13 private boat slips, and additional docking areas, with views toward Fire Island.
Outdoor improvements include an in-ground pool, in-ground hot tub, brick outdoor kitchen, and expansive paver patio. The property sits at the end of a quiet cul-de-sac and includes landscaped grounds with palm trees. Walk Score is 68, rated Somewhat Walkable, and Bike Score is 54, rated Bikeable.
Outdoor improvements include an in-ground pool, in-ground hot tub, brick outdoor kitchen, and expansive paver patio. The property sits at the end of a quiet cul-de-sac and includes landscaped grounds with palm trees. Walk Score is 68, rated Somewhat Walkable, and Bike Score is 54, rated Bikeable.
Key Highlights
- Triplex with 9 bedrooms and 9 bathrooms
- More than 180 feet of waterfront on Penataquit Canal
- 13 private boat slips plus expansive docking
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
$122,697
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
6.13%
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%
$2,453,940
$2.5M
Cap Rate 7%
$1,752,814
$1.8M
Cap Rate 9%
$1,363,300
$1.4M
Market Conditions
NOI Build-Up for 6,354 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
$186.8K $29.40/SF
− Vacancy
−$11.5K −$1.81/SF
EGI
$175.3K $27.59/SF
− OpEx
−$52.6K −$8.28/SF
NOI
$122.7K $19.31/SF
Area
Suffolk County, NY
Vacancy
6.17%
Lease Rate
$29.40 /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%
$2,453,940
Cap Rate 7%
$1,752,814
Cap Rate 9%
$1,363,300
Alternative Uses
Best Use
Multifamily LT 5
$1.75M
$1.53M – $2.04M
NOI $122,697 @ 7.0% cap · market cap 6.13%
Second Best
Apartment 5plus
$1.61M
$1.41M – $1.88M
NOI $112,926 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$1.94M
$1.69M – $2.26M
NOI $135,501 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,018
Businesses Nearby
Explore this area
Business Placement
Demographics for 11706, NY
66,263
Population
21,435
Households
3.1
Avg Household Size
37
Median Age
26%
College-Educated
82%
High-School Grad
16.9 sq mi
ZIP Area
3,921
Density / Sq Mi
$115,112
Median Household Income
$44,917
Median Earnings
$1,885
Median Rent
$464,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit waterfront property with private docking, pool, hot tub, and outdoor entertaining areas.
Where is this triplex located?
The property is located at 64 Mowbray Ave Bayshore, NY.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Triplex with 9 bedrooms and 9 bathrooms; More than 180 feet of waterfront on Penataquit Canal; 13 private boat slips plus expansive docking
