Mixed-Use Retail and
For Sale
Contact for pricing
1888 Grand Avenue, Baldwin, NY 11510
Mix-use building offering retail stores with upper-level apartments, available for sale.
Property Size11,696 SF
Price / SF$307.80
Days on Market141
Property Features for 1888 Grand Avenue
General Information
Standard status
Active
Size
11,696 SF
Property subtype
Multifamily
Listing Agency:
CENTURY 21 Sherlock Homes
Listed By:
Roger Hart · License #NY
(516) 459-5379
Source:
Crexi
Added: Apr 20
Changed: Aug 25
Last Checked: Sep 7 at 1:40AM
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 CENTURY 21 Sherlock Homes
Investment Insights
Based on property information with market context.
This mixed-use building combines retail stores with upper-level apartments. The property is offered for sale with additional financial information available upon request.
The building is located at 1888 Grand Avenue in Baldwin, New York.
A rent roll is noted in the public remarks at $330,949, supporting the current income profile for this retail and residential setup.
The building is located at 1888 Grand Avenue in Baldwin, New York.
A rent roll is noted in the public remarks at $330,949, supporting the current income profile for this retail and residential setup.
Key Highlights
- Mixed‑use building with retail stores on the lower level and upper‑level apartments
- Rent roll of $330,949 listed for the property
- Available for sale as a combined retail and apartment investment property
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
$231,616
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
6.43%
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%
$4,632,320
$4.6M
Cap Rate 7%
$3,308,800
$3.3M
Cap Rate 9%
$2,573,511
$2.6M
Market Conditions
NOI Build-Up for 11,696 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
$350.9K $30.00/SF
− Vacancy
−$20.0K −$1.71/SF
EGI
$330.9K $28.29/SF
− OpEx
−$99.3K −$8.49/SF
NOI
$231.6K $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%
$4,632,320
Cap Rate 7%
$3,308,800
Cap Rate 9%
$2,573,511
Alternative Uses
Best Use
Retail
$3.31M
$2.90M – $3.86M
NOI $231,616 @ 7.0% cap · market cap 6.43%
Second Best
Apartment 5plus
$2.98M
$2.61M – $3.48M
NOI $208,627 @ 7.0% cap · market cap 5.80%
Theoretical Best
Specialty Retail
$7.73M
$6.77M – $9.02M
NOI $541,320 @ 7.0% cap · market cap 15.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,009
Businesses Nearby
Explore this area
Business Placement
Demographics for 11510, NY
34,617
Population
11,463
Households
3
Avg Household Size
42
Median Age
43%
College-Educated
94%
High-School Grad
4.2 sq mi
ZIP Area
8,242
Density / Sq Mi
$141,120
Median Household Income
$62,185
Median Earnings
$1,695
Median Rent
$578,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Mix-use building offering retail stores with upper-level apartments, available for sale.
Where is this retail space located?
The property is located at 1888 Grand Avenue Baldwin, NY.
What is the asking price?
The asking price for this property is $3,600,000.
What are key features of this property?
This property features: Mixed‑use building with retail stores on the lower level and upper‑level apartments; Rent roll of $330,949 listed for the property; Available for sale as a combined retail and apartment investment property
