Freestanding Storefront
For Sale
$825,000
163 BROADWAY, Massapequa Park, NY 11701
Occupied by a dry-cleaning business, the property includes central air and dedicated parking.
Property Size2,400 SF
Price / SF$343.75
Days on Market74
Property Features for 163 BROADWAY
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Retail
Taxes and HOA fees
Annual Taxes
$16,834
Amenities
Central Air
3
1 Parking Spaces.
Building Details
Year Built
1955
Tenancy
Single
Listing Agency:
Promise Realty LLC
(516) 639-5453
Listed By:
Ji Hong
(516) 639-5453
Source:
Xome
Added: Jun 18
Changed: Aug 29
Last Checked: Aug 29 at 8:58PM
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 Promise Realty LLC
Investment Insights
Based on property information with market context.
This freestanding storefront property at 163 Broadway is occupied by a dry-cleaning business and includes central air conditioning. The building was constructed in 1955 and offers a 2,400-square-foot commercial footprint with one parking space.
The property is positioned along Broadway in Massapequa Park, New York, within an established commercial and residential setting. Its location places the storefront near neighborhood retail, professional services, dining, and surrounding residential communities. The address is 163 Broadway, Massapequa Park, NY 11701.
The property is positioned along Broadway in Massapequa Park, New York, within an established commercial and residential setting. Its location places the storefront near neighborhood retail, professional services, dining, and surrounding residential communities. The address is 163 Broadway, Massapequa Park, NY 11701.
Key Highlights
- 2,400‑square‑foot freestanding storefront property
- Occupied by a dry‑cleaning business
- 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
$47,527
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
5.76%
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%
$950,540
$950.5K
Cap Rate 7%
$678,957
$679.0K
Cap Rate 9%
$528,078
$528.1K
Market Conditions
NOI Build-Up for 2,400 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
$72.0K $30.00/SF
− Vacancy
−$4.1K −$1.71/SF
EGI
$67.9K $28.29/SF
− OpEx
−$20.4K −$8.49/SF
NOI
$47.5K $19.80/SF
Area
Nassau County, NY
Vacancy
5.70%
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%
$950,540
Cap Rate 7%
$678,957
Cap Rate 9%
$528,078
Alternative Uses
Best Use
Retail
$679.0K
$594.1K – $792.1K
NOI $47,527 @ 7.0% cap · market cap 5.76%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.59M
$1.39M – $1.85M
NOI $111,078 @ 7.0% cap · market cap 13.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
620
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11701, NY
27,831
Population
9,544
Households
2.9
Avg Household Size
41
Median Age
31%
College-Educated
87%
High-School Grad
4.6 sq mi
ZIP Area
6,050
Density / Sq Mi
$110,639
Median Household Income
$48,080
Median Earnings
$2,307
Median Rent
$489,000
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?
Storefront property - Occupied by a dry-cleaning business, the property includes central air and dedicated parking.
Where is this storefront property located?
The property is located at 163 BROADWAY Massapequa Park, NY.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 2,400‑square‑foot freestanding storefront property; Occupied by a dry‑cleaning business; Central air conditioning
