Renovated Mixed-Use
For Sale
$709,999
174 MERRICK RD, Merrick, NY 11566
Includes an occupied retail storefront, vacant rear flex space, and a newly renovated patio.
Property Size1,700 SF
Price / SF$417.65
Days on Market177
Property Features for 174 MERRICK RD
General Information
Standard status
Active
Size
1,700 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$12,338
Amenities
Central Air
3
Building Details
Year Built
1952
Listing Agency:
M & J Partners Realty LLC
(631) 839-3748
Listed By:
Marc Jeret · License #10401368899
(631) 839-3748
Source:
Xome
Added: Mar 7
Changed: Aug 30
Last Checked: Aug 30 at 7:26PM
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 M & J Partners Realty LLC
Investment Insights
Based on property information with market context.
This mixed-use property combines an occupied front retail space with a vacant rear flex area and a large newly renovated patio. The property totals approximately 1,700 +/- square feet, including the retail space, rear flex office/apartment area, and patio; the shared driveway is excluded from that measurement. The rear area is described as suitable for office or apartment use.
Allstate Insurance occupies the front storefront under a 3-year lease with increases and a renewal option remaining. Additional site features include a shed, shared driveway, and central air. The building was constructed in 1952 and has undergone renovation to the front retail space, rear flex area, and patio.
Allstate Insurance occupies the front storefront under a 3-year lease with increases and a renewal option remaining. Additional site features include a shed, shared driveway, and central air. The building was constructed in 1952 and has undergone renovation to the front retail space, rear flex area, and patio.
Key Highlights
- Approximately 1,700 +/- square feet including retail, rear flex area, and patio
- Occupied front retail space leased to Allstate Insurance
- Vacant rear flex area described for office or apartment use
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
$33,665
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
4.74%
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%
$673,300
$673.3K
Cap Rate 7%
$480,929
$480.9K
Cap Rate 9%
$374,056
$374.1K
Market Conditions
NOI Build-Up for 1,700 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
$51.0K $30.00/SF
− Vacancy
−$2.9K −$1.71/SF
EGI
$48.1K $28.29/SF
− OpEx
−$14.4K −$8.49/SF
NOI
$33.7K $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%
$673,300
Cap Rate 7%
$480,929
Cap Rate 9%
$374,056
Alternative Uses
Best Use
Retail
$480.9K
$420.8K – $561.1K
NOI $33,665 @ 7.0% cap · market cap 4.74%
Second Best
Office B
$417.6K
$365.4K – $487.2K
NOI $29,232 @ 7.0% cap · market cap 4.12%
Theoretical Best
Specialty Retail
$1.12M
$983.5K – $1.31M
NOI $78,680 @ 7.0% cap · market cap 11.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
811
Businesses Nearby
Explore this area
Business Placement
Demographics for 11566, NY
35,147
Population
11,723
Households
3
Avg Household Size
43
Median Age
58%
College-Educated
94%
High-School Grad
5.4 sq mi
ZIP Area
6,509
Density / Sq Mi
$169,868
Median Household Income
$79,500
Median Earnings
$2,803
Median Rent
$679,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes an occupied retail storefront, vacant rear flex space, and a newly renovated patio.
Where is this mixed-use property located?
The property is located at 174 MERRICK RD Merrick, NY.
What is the asking price?
The asking price for this property is $709,999.
What are key features of this property?
This property features: Approximately 1,700 +/- square feet including retail, rear flex area, and patio; Occupied front retail space leased to Allstate Insurance; Vacant rear flex area described for office or apartment use
