Building Details

Building Size 1,846 SF

Year Built 1924

Buildings 1

Units 2

Listing Agency: Daniel Gale Sothebys Intl Rlty Show Phone

Listed By: Madeleine R. Ganis CBR Show Phone

Source: Cohenandcohenrealty

Added: Aug 12 Changed: Aug 18 Last Checked: Aug 20 at 3:00PM

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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 updated side-by-side duplex was built in 1924 and includes two residential units, each with 2 bedrooms, 1.5 baths, a fireplace, eat-in kitchen, and sunroom. Separate utilities support independent operation of the residences. The property also provides a driveway, carport, storage garage, and additional parking.

Set within the Warren Shores private beach community, the property offers water views and proximity to town, a marina, and restaurants. The beach setting supports year-round access to swimming, fishing, and kayaking.

Key Highlights

• Updated side‑by‑side duplex with two residential units
• Each unit includes 2 BR, 1.5 Baths, fireplace, EIK, and sunroom
• Separate Utilities for each residence

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

$35,169

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

3.80%

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%

$703,380 $703.4K

Cap Rate 7%

$502,414 $502.4K

Cap Rate 9%

$390,767 $390.8K

Market Conditions

NOI Build-Up for 1,846 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

$53.2K $28.80/SF

− Vacancy

−$2.9K −$1.58/SF

EGI

$50.2K $27.22/SF

− OpEx

−$15.1K −$8.16/SF

NOI

$35.2K $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%

$703,380

Cap Rate 7%

$502,414

Cap Rate 9%

$390,767

Alternative Uses

Best Use

Multifamily LT 5

$502.4K

$439.6K – $586.2K (±1% cap)

NOI $35,169 @ 7.0% cap · market cap 3.80%

Second Best

Apartment 5plus

$470.4K

$411.6K – $548.8K (±1% cap)

NOI $32,928 @ 7.0% cap · market cap 3.56%

Theoretical Best

Specialty Retail

$1.22M

$1.07M – $1.42M (±1% cap)

NOI $85,437 @ 7.0% cap · market cap 9.24%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Law Firm Real Estate Agency Hair Salon Dental Office Grocery & Convenience Store Daycare Center

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

2

Residential units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

175

Businesses Nearby

Explore this area Business Placement

Demographics for 11709, NY

6,748

Population

2,803

Households

2.4

Avg Household Size

48

Median Age

55%

College-Educated

96%

High-School Grad

1.5 sq mi

ZIP Area

4,499

Density / Sq Mi

$143,571

Median Household Income

$83,712

Median Earnings

$1,974

Median Rent

$670,500

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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Frequently Asked Questions

What type of property is this?

Duplex - Two separately metered residences in a private beach community with water views and on-site parking.

Where is this duplex located?

The property is located at 17 Shore Avenue Bayville, NY.

What is the asking price?

The asking price for this property is $925,000.

What are key features of this property?

This property features: Updated side‑by‑side duplex with two residential units; Each unit includes 2 BR, 1.5 Baths, fireplace, EIK, and sunroom; Separate Utilities for each residence