Three-Unit Retail
For Sale
$1,200,000
164 Margin drive W, Shirley, NY 11967
Existing occupants include a nail salon, barber shop, and boxing or martial arts studio.
Property Size5,000 SF
Price / SF$240
Days on Market36
Property Features for 164 Margin drive W
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$28,000
Amenities
central alarm system
newly finished parking lot
Building Details
Building Size
5,000 SF
Year Built
1974
Stories
1
Units
3
Tenancy
Multi
Listing Agency:
Keystone Realty USA
Listed By:
Joanne Ott
(631) 486-1126
Source:
Elliman
Added: Sep 4
Changed: Sep 26
Last Checked: Oct 7 at 12:50PM
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 Keystone Realty USA
Investment Insights
Based on property information with market context.
This 5000 SF retail strip was built in 1974 and is currently configured as three units, with a certificate of occupancy in place for four. The property has a new roof, central alarm system, and a recently finished rear parking lot. Tenants are responsible for their utilities and lawn maintenance.
Located on Margin Drive W with visibility from William Floyd Pkwy, the property is surrounded by national retailers and offers access to the Long Island Expressway and other major roadways. Smiths Point Beach is also minutes away.
Existing occupants include a nail salon, barber shop, and boxing or martial arts studio, with reported operating histories of 15 years, 20+ years, and 10 years, respectively. Leases are in place.
Located on Margin Drive W with visibility from William Floyd Pkwy, the property is surrounded by national retailers and offers access to the Long Island Expressway and other major roadways. Smiths Point Beach is also minutes away.
Existing occupants include a nail salon, barber shop, and boxing or martial arts studio, with reported operating histories of 15 years, 20+ years, and 10 years, respectively. Leases are in place.
Key Highlights
- 5000 SF retail strip built in 1974
- Currently divided into 3 units; CO in place for 4 units
- Visibility from heavily traveled William Floyd Pkway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$97,755
Cap Rate
8.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,955,100
$2.0M
Cap Rate 7%
$1,396,500
$1.4M
Cap Rate 9%
$1,086,167
$1.1M
Market Conditions
NOI Build-Up for 5,000 SF
Gross rent
$150.0K $30.00/SF
− Vacancy
−$10.4K −$2.07/SF
EGI
$139.7K $27.93/SF
− OpEx
−$41.9K −$8.38/SF
NOI
$97.8K $19.55/SF
Area
Suffolk County, NY
Vacancy
6.90%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,955,100
Cap Rate 7%
$1,396,500
Cap Rate 9%
$1,086,167
Alternative Uses
Best Use
Retail
$1.40M
$1.22M – $1.63M
NOI $97,755 @ 7.0% cap · market cap 8.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.52M
$1.33M – $1.78M
NOI $106,626 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
278
Businesses Nearby
123k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 54%
Home Improvements & Furnishings 26%
Groceries 18%
Electronics 2%
The Home Depot
Home Improvements & Furnishings
29,742 visits/mo
0.2 miles
King Kullen
Groceries
22,523 visits/mo
0.1 miles
Dollar Tree
Shops & Services
16,028 visits/mo
0.1 miles
7-Eleven
Shops & Services
14,460 visits/mo
0.2 miles
Mobil
Shops & Services
12,422 visits/mo
0.3 miles
Demographics for 11967, NY
26,213
Population
8,922
Households
2.9
Avg Household Size
39
Median Age
18%
College-Educated
89%
High-School Grad
13.2 sq mi
ZIP Area
1,986
Density / Sq Mi
$106,810
Median Household Income
$52,515
Median Earnings
$2,157
Median Rent
$386,300
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?
Strip mall - Existing occupants include a nail salon, barber shop, and boxing or martial arts studio.
Where is this strip mall located?
The property is located at 164 Margin drive W Shirley, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 5000 SF retail strip built in 1974; Currently divided into 3 units; CO in place for 4 units; Visibility from heavily traveled William Floyd Pkway
