Building Details

Building Size 3,776 SF

Year Built 1911

Listing Agency: Daniel Gale Sothebys Intl Rlty

Listed By: Tim Lau Show Phone

Source: Cottiemaxwellrealestate

Added: Jul 10 Changed: Sep 8 Last Checked: Sep 9 at 10:35PM

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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 Daniel Gale Sothebys Intl Rlty

Investment Insights

Based on property information with market context.

This well-maintained three-family home has been updated over time and includes a newer roof, updated plumbing and electrical, stucco exterior, central air conditioning, and updated kitchens and bathrooms. The property is configured as a residential income asset with three separate units.

The home is located in the Herricks School District and includes an extra lot with a separate deed. This additional parcel may support future plans, subject to local approvals.

For buyers looking for an owner-occupant or investment opportunity, the combination of multiple units, modernized interior finishes, and a separately deeded lot provides flexibility for different ownership objectives.

Key Highlights

• Well‑maintained 3‑family home with a newer roof and updated plumbing and electrical
• Stucco exterior with a porch and driveway
• Central air conditioning

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

$71,937

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

4.04%

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%

$1,438,740 $1.4M

Cap Rate 7%

$1,027,671 $1.0M

Cap Rate 9%

$799,300 $799.3K

Market Conditions

NOI Build-Up for 3,776 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

$108.7K $28.80/SF

− Vacancy

−$6.0K −$1.58/SF

EGI

$102.8K $27.22/SF

− OpEx

−$30.8K −$8.16/SF

NOI

$71.9K $19.05/SF

Area

Nassau County, NY

Vacancy

5.50%

Lease Rate

$28.80 /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%

$1,438,740

Cap Rate 7%

$1,027,671

Cap Rate 9%

$799,300

Alternative Uses

Best Use

Multifamily LT 5

$1.03M

$899.2K – $1.20M (±1% cap)

NOI $71,937 @ 7.0% cap · market cap 4.04%

Second Best

Apartment 5plus

$962.2K

$841.9K – $1.12M (±1% cap)

NOI $67,354 @ 7.0% cap · market cap 3.78%

Theoretical Best

Specialty Retail

$2.50M

$2.18M – $2.91M (±1% cap)

NOI $174,763 @ 7.0% cap · market cap 9.82%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Garden Center Daycare Center Big Box & Wholesale Store (Bike/Boat/Book/etc) Store Auto Parts Store HVAC Service

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

3

Residential units

Location Intelligence

Trade Area within ½ mile

871

Businesses Nearby

Explore this area Business Placement

Demographics for 11507, NY

7,449

Population

2,432

Households

3.1

Avg Household Size

45

Median Age

66%

College-Educated

94%

High-School Grad

1.1 sq mi

ZIP Area

6,772

Density / Sq Mi

$162,991

Median Household Income

$69,658

Median Earnings

$2,528

Median Rent

$799,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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

Frequently Asked Questions

What type of property is this?

Triplex - Well-maintained three-family home with a newer roof, updated systems, central air, and an extra separately deeded lot.

Where is this triplex located?

The property is located at 143 Searingtown Road Albertson, NY.

What is the asking price?

The asking price for this property is $1,780,000.

What are key features of this property?

This property features: Well‑maintained 3‑family home with a newer roof and updated plumbing and electrical; Stucco exterior with a porch and driveway; Central air conditioning