Building Details

Building Size 998 SF

Year Built 1929

Listing Agency: h***@gmail.com Show Phone

Listed By: Helene A. Turk Rutchik

Source: Elliman

Added: Nov 28, 2025 Changed: Aug 13 Last Checked: Aug 21 at 12:29PM

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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 Helene A. Turk Rutchik

Investment Insights

Based on property information with market context.

This spacious, light-filled top floor corner unit is located in a historic, pet-friendly building. The apartment features two large bedrooms and one bathroom, along with an updated kitchen and bath. High ceilings and hardwood floors add to the unit's appeal. Windows were replaced in 2020. Custom wood radiator and air conditioner covers are included, as are AC units and a microwave. The kitchen is equipped with a stainless steel refrigerator and gas stove. Residents have access to a basement laundry room and available bike storage. Outdoor green space is available. The property is located close to shopping and houses of worship, and is steps from the LIRR.

Key Highlights

• Top floor corner unit: Enjoy enhanced privacy and abundant natural light.
• Steps from LIRR: Ideal location for commuters.
• Pet‑friendly building: Welcome your furry friends.

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

$17,802

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

5.65%

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%

$356,040 $356.0K

Cap Rate 7%

$254,314 $254.3K

Cap Rate 9%

$197,800 $197.8K

Market Conditions

NOI Build-Up for 998 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

$33.9K $33.96/SF

− Vacancy

−$1.5K −$1.53/SF

EGI

$32.4K $32.43/SF

− OpEx

−$14.6K −$14.59/SF

NOI

$17.8K $17.84/SF

Area

Nassau County, NY

Vacancy

4.50%

Lease Rate

$33.96 /SF/Yr

Expense Ratio

45.00%

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%

$356,040

Cap Rate 7%

$254,314

Cap Rate 9%

$197,800

Alternative Uses

Best Use

Apartment 5plus

$254.3K

$222.5K – $296.7K (±1% cap)

NOI $17,802 @ 7.0% cap · market cap 5.65%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$659.9K

$577.4K – $769.8K (±1% cap)

NOI $46,190 @ 7.0% cap · market cap 14.66%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

JewelryNest (Bike/Boat/Book/etc) Store Top Response Restoration ... Hardware & Home Improvement

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Food Market Daycare Center Carpet & Flooring Store Bar & Pub Barber Shop

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

Location Intelligence

Trade Area within ½ mile

1,682

Businesses Nearby

Explore this area Business Placement

Demographics for 11598, NY

14,515

Population

4,079

Households

3.6

Avg Household Size

34

Median Age

71%

College-Educated

94%

High-School Grad

1.9 sq mi

ZIP Area

7,639

Density / Sq Mi

$181,574

Median Household Income

$77,237

Median Earnings

$2,405

Median Rent

$1,000,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Spacious, light-filled apartment near LIRR with updated features.

Where is this apartment building located?

The property is located at 141 Woodmere Blvd 6E Woodmere, NY.

What is the asking price?

The asking price for this property is $315,000.

What are key features of this property?

This property features: Top floor corner unit: Enjoy enhanced privacy and abundant natural light.; Steps from LIRR: Ideal location for commuters.; Pet‑friendly building: Welcome your furry friends.