Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    150 S Main Street Freeport, NY 11520

    View on Map
    Claim this Listing
    For Sale
    $549,111

    COMMERCIAL - Freeport, NY

    Lot size:
    0.03 Acres
    Added:
    Mar 25, 2026
    Days on Market:
    36
    Last Refresh:
    Apr 29 at 9:06 pm

    Property Features for 150 S Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Rooms
    Basement
    Basement
    Unfinished
    Standard status
    Active
    APN
    2009-62-053-00-0353-0
    Lot size
    0.03 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    6256

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Oil
    Water source
    Public

    Building Details

    Year built
    1964
    Building materials
    Brick

    We can help!

    Listing Contact
    Otto E. Lugo GRI

    Listing agent Otto E. Lugo GRI License #10311205015

    Listing office Realty Masters International 201 W Merrick Rd, West Hempstead, NY

    Listing date Mar 25, 2026

    MLS# 976346

    Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Freeport Income Producing Property

    This income-producing property includes two adjacent properties at 148 and 150 S Main St, Freeport, NY 11520, which are currently on the same deed. The properties are being sold together. The lot size is 0.0348 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Iglesia Universal Church Barber Shop Lolo's Barber Shop

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Freeport
    County
    Nassau
    State
    New York
    Longitude
    -73.58563
    Latitude
    40.662595

    Nearby Similar for Sale

    • $758,000

      Waterfront Retail Space on Nautical Mile

      Unique retail space with waterfront view and income potential.
      377 Woodcleft Avenue, Freeport, NY 11520
      View Details
    • $749,000

      Freeport Two-Family Home with Garage

      Updated two-family home with garage, ideal for investors or owners.
      261 Rutland Road, Freeport, NY 11520
      View Details
    • $599,111

      Freeport Multifamily Property For Sale

      Multifamily property in Freeport, NY, with month-to-month leases.
      73 Raynor Street, Freeport, NY 11520
      View Details
    • $659,990

      Freeport Multi-Family Investment Opportunity

      Two spacious units, ideal for renovation and rental income.
      463 S Bayview Avenue, Freeport, NY 11520
      View Details
    • $758,000

      Waterfront Retail Space on Nautical Mile

      Unique retail space with waterfront view and income potential.
      377 Woodcleft Ave, Freeport, NY 11520
      View Details
    • $2,299,000
      7,500 SF

      Commercial Package with Established Businesses

      Four-lot commercial package with three businesses and parking.
      365 Atlantic Ave, Freeport, NY 11520
      View Details
    • $549,111

      Freeport Income Producing Commercial Property

      Commercial property in Freeport, NY, great income potential.
      148 S Main Street, Freeport, NY 11520
      View Details
    • $2,299,000
      7,014 SF

      Freeport Commercial Package For Sale

      Four-lot commercial package with three businesses and parking lot.
      365 Atlantic Avenue, Freeport, NY 11520
      View Details
    • $3,000,000

      Iconic Waterfront Restaurant Opportunity

      Long-standing Freeport restaurant with indoor, outdoor seating and docking.
      271 Woodcleft Ave, Freeport, NY 11520
      View Details
    • $1,880,000
      8,538 SF

      Freeport Warehouse with Office Space

      Spacious warehouse with office space in a prime location.
      16 Filmore Place, Freeport, NY 11520
      View Details
    • $600,000

      Income Producing Freeport Retail Property

      Two retail properties sold together as one income-producing investment.
      148 S Main St, Freeport, NY 11520
      View Details
    • $2,000,000
      22,342 SF

      Freeport Warehouse for Urgent Sale

      22,342 SF warehouse in industrial area, suitable for redevelopment.
      525 Ray St, Freeport, NY 11520
      View Details

    FAQs

    What type of property is this?
    Residential income property - Income property in Freeport, sold as one.
    Where is this residential income property located?
    The property is located at 150 S Main Street Freeport, NY.
    What is the asking price?
    The asking price for this property is $549,111.
    What are key features of this property?
    This property features: Income‑producing property.; Two properties (148 & 150 So. Main St) included in sale.; Durable brick construction.
    (516) 480-6540
    We can help!
    Listing Contact
    Otto E. Lugo GRI
    Real Estate License ID: 10311205015
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!