Building Details

Year Built 1910

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

Listed By: Keller Williams Points North Show Phone

Source: Xome

Added: Apr 22 Changed: Aug 31 Last Checked: Aug 31 at 12:48AM

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Investment Insights

Based on property information with market context.

This mixed-use property combines a functioning pastry and commercial kitchen with a customer-oriented retail area. The kitchen includes grease traps, a three-tank cesspool system, ANSEL capability, stainless-steel prep tables, storage racks, freezers, commercial mixers, and an electric rack oven. Retail improvements include wood shelving, refrigerated cases, and dry display units. The lower level has central air conditioning, gas service, and upgraded electrical systems.

The approximately one-acre property is located at 1612 Main Rd in Laurel, within Long Island’s North Fork. On-site parking, an assigned parking space, a shared driveway, and on-street parking are identified. The upper level is currently used for storage, with permits and approved plans supporting potential additional commercial or residential space, subject to local zoning. The property was built in 1910.

Key Highlights

• Approximately one acre in Laurel on Long Island’s North Fork
• Functioning pastry and commercial kitchen with grease traps and ANSEL capability
• Commercial equipment includes freezers, mixers, prep tables, and an electric rack oven

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

$50,735

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

5.08%

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%

$1,014,700 $1.0M

Cap Rate 7%

$724,786 $724.8K

Cap Rate 9%

$563,722 $563.7K

Market Conditions

NOI Build-Up for 2,595 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

$77.9K $30.00/SF

− Vacancy

−$5.4K −$2.07/SF

EGI

$72.5K $27.93/SF

− OpEx

−$21.7K −$8.38/SF

NOI

$50.7K $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 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%

$1,014,700

Cap Rate 7%

$724,786

Cap Rate 9%

$563,722

Alternative Uses

Best Use

Retail

$724.8K

$634.2K – $845.6K (±1% cap)

NOI $50,735 @ 7.0% cap · market cap 5.08%

Second Best

Specialty Retail

$674.0K

$589.8K – $786.4K (±1% cap)

NOI $47,183 @ 7.0% cap · market cap 4.72%

Theoretical Best

Office A

$790.6K

$691.7K – $922.3K (±1% cap)

NOI $55,339 @ 7.0% cap · market cap 5.54%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Commercial kitchens

Suggested Use

Top Pick Auto Repair Shop Real Estate Agency Dental Office Big Box & Wholesale Store Electrical Service Furniture & Home Goods

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

58

Businesses Nearby

Explore this area Business Placement

Demographics for 11901, NY

30,936

Population

13,126

Households

2.4

Avg Household Size

42

Median Age

21%

College-Educated

79%

High-School Grad

56.7 sq mi

ZIP Area

546

Density / Sq Mi

$83,252

Median Household Income

$39,949

Median Earnings

$2,195

Median Rent

$437,500

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Pastry production, customer-facing retail, and upper-level storage are arranged within the building.

Where is this mixed-use property located?

The property is located at 1612 MAIN RD Laurel, NY.

What is the asking price?

The asking price for this property is $999,000.

What are key features of this property?

This property features: Approximately one acre in Laurel on Long Island’s North Fork; Functioning pastry and commercial kitchen with grease traps and ANSEL capability; Commercial equipment includes freezers, mixers, prep tables, and an electric rack oven