Building Details

Year Built 1971

Buildings 1

Building Size 7,560 SF

Tenancy Multi

Listing Agency: CHASE GLOBAL REALTY CORP s***@chasegr.com Show Phone

Listed By: SOPHIA X. YAO · License #10311201216

Source: Corcoran

Added: Aug 3 Changed: Aug 11 Last Checked: Aug 10 at 4:43AM

Report an Issue

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 CHASE GLOBAL REALTY CORP

Investment Insights

Based on property information with market context.

This multi-tenant flex property includes an approximately 7,560 SF commercial building on an approximately 18,164 SF lot. Built in 1971, the asset is leased to several established businesses representing design, fishing supplies, lumber, storage, and related commercial activities. Additional income sources include rear yard storage, parking, and storage rental arrangements.

Located at 133 Glenwood Road in Glenwood Landing, the property offers access to major transportation routes within the North Shore of Long Island. The site supports a range of potential commercial applications, including warehouse, showroom, distribution, light industrial, and other commercial uses, subject to zoning and approvals. Its combination of building space, outdoor yard area, and multiple tenancy components provides a flexible commercial configuration.

Key Highlights

• Approximately 7,560 SF commercial building on an approximately 18,164 SF lot
• Approximately 0.417 acres in Glenwood Landing, NY
• Multi‑tenant property leased to design, fishing supply, lumber, and storage businesses

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

$149,711

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

5.80%

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%

$2,994,220 $3.0M

Cap Rate 7%

$2,138,729 $2.1M

Cap Rate 9%

$1,663,456 $1.7M

Market Conditions

NOI Build-Up for 7,560 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

$226.8K $30.00/SF

− Vacancy

−$12.9K −$1.71/SF

EGI

$213.9K $28.29/SF

− OpEx

−$64.2K −$8.49/SF

NOI

$149.7K $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%

$2,994,220

Cap Rate 7%

$2,138,729

Cap Rate 9%

$1,663,456

Alternative Uses

Best Use

Retail

$2.14M

$1.87M – $2.50M (±1% cap)

NOI $149,711 @ 7.0% cap · market cap 5.80%

Second Best

Warehouse

$1.88M

$1.64M – $2.19M (±1% cap)

NOI $131,378 @ 7.0% cap · market cap 5.09%

Theoretical Best

Specialty Retail

$5.00M

$4.37M – $5.83M (±1% cap)

NOI $349,896 @ 7.0% cap · market cap 13.56%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Italia Outdoor Living General Contractor J Barwick Landscape ... General Contractor Glenwood Landing Solar ... Production Facility

Suggested Use

Top Pick Real Estate Agency Dental Office Big Box & Wholesale Store Restaurant Law Firm Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

147

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 11547, NY

995

Population

328

Households

3

Avg Household Size

44

Median Age

59%

College-Educated

94%

High-School Grad

0.5 sq mi

ZIP Area

1,990

Density / Sq Mi

$123,452

Median Household Income

$2,029

Median Rent

$916,700

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Frequently Asked Questions

What type of property is this?

Flex space - Income-producing commercial property with warehouse, showroom, distribution, and light industrial use potential, subject to zoning and approvals.

Where is this flex space located?

The property is located at 133 Glenwood Road Glenwood Landing, NY.

What is the asking price?

The asking price for this property is $2,580,000.

What are key features of this property?

This property features: Approximately 7,560 SF commercial building on an approximately 18,164 SF lot; Approximately 0.417 acres in Glenwood Landing, NY; Multi‑tenant property leased to design, fishing supply, lumber, and storage businesses