Freeport Retail Building For
For Sale
$595,000
197 N Main Street, Freeport, NY 11520
1,500 SF retail building in Freeport, NY for sale.
Property Size1,500 SF
Price / SF$396.67
Days on Market197
Property Features for 197 N Main Street
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,683
Building Details
Building Size
1,500 SF
Year Built
1922
Buildings
1
Listing Agency:
Douglas Elliman Comm of LI LLC
(516) 439-6789
Listed By:
Michael Gronenthal · License #10401300985
(516) 439-6789
Source:
Cohenandcohenrealty
Added: Feb 7
Changed: Aug 23
Last Checked: Aug 22 at 12:35PM
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 Douglas Elliman Comm of LI LLC
Investment Insights
Based on property information with market context.
This 1,500 SF building in Freeport, NY, presents an investment or owner-user opportunity. The property features two individual units, each separately metered. Zoned R-A, the property is suited for retail or street retail ventures. Currently at 50% occupancy, the property offers the opportunity for owner-user occupation while also capitalizing on the potential for rental income.
Key Highlights
- Opportunity for owner‑user occupation with rental income potential.
- Two individual units, separately metered.
- Prime location in the heart of Freeport, NY.
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
$29,704
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
4.99%
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%
$594,080
$594.1K
Cap Rate 7%
$424,343
$424.3K
Cap Rate 9%
$330,044
$330.0K
Market Conditions
NOI Build-Up for 1,500 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
$45.0K $30.00/SF
− Vacancy
−$2.6K −$1.71/SF
EGI
$42.4K $28.29/SF
− OpEx
−$12.7K −$8.49/SF
NOI
$29.7K $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%
$594,080
Cap Rate 7%
$424,343
Cap Rate 9%
$330,044
Alternative Uses
Best Use
Retail
$424.3K
$371.3K – $495.1K
NOI $29,704 @ 7.0% cap · market cap 4.99%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$991.8K
$867.8K – $1.16M
NOI $69,424 @ 7.0% cap · market cap 11.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,371
Businesses Nearby
Explore this area
Business Placement
Demographics for 11520, NY
45,121
Population
14,912
Households
3
Avg Household Size
39
Median Age
27%
College-Educated
86%
High-School Grad
5.1 sq mi
ZIP Area
8,847
Density / Sq Mi
$119,407
Median Household Income
$47,475
Median Earnings
$1,984
Median Rent
$480,600
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?
Retail space - 1,500 SF retail building in Freeport, NY for sale.
Where is this retail space located?
The property is located at 197 N Main Street Freeport, NY.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Opportunity for owner‑user occupation with rental income potential.; Two individual units, separately metered.; Prime location in the heart of Freeport, NY.
