Mixed-Use Building Near LIRR
For Sale
Contact for pricing
2 W Park Ave, Long Beach, NY 11561
Three-story commercial property combines retail and office space with multiple existing tenants.
Property Size18,899 SF
Price / SF$608.50
Days on Market156
Property Features for 2 W Park Ave
General Information
Standard status
Active
Size
18,899 SF
Class
C
Property subtype
Office, Retail
Zoning
Commercial
Occupancy
87%
Lease Type
Gross
Investment Type
Stabilized
Net Operating Income
$254,357
Site & Location
Corner Location
Yes
Public Transit
Yes
Building Details
Year Built
1930
Year Renovated
1988
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
American Investment Properties
(516) 393-2300
Listed By:
Ron Koenigsberg CCIM · License #NY 31K00933350
Source:
Crexi
Added: Mar 30
Changed: Aug 31
Last Checked: Aug 30 at 4:18AM
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 American Investment Properties
Investment Insights
Based on property information with market context.
This three-story mixed-use building contains 18,899 square feet of retail and office space, with several tenants occupying the property. Built in 1930, the asset is zoned Commercial and includes vacant areas that can support additional occupancy.
The property is positioned at the corner of W Park Ave and Edwards Blvd, directly opposite the Long Beach LIRR Train Station. Its combination of storefront and office components creates a varied commercial configuration within an established Long Beach setting.
The property is positioned at the corner of W Park Ave and Edwards Blvd, directly opposite the Long Beach LIRR Train Station. Its combination of storefront and office components creates a varied commercial configuration within an established Long Beach setting.
Key Highlights
- 18,899‑square‑foot mixed‑use building
- Retail and office space within the same property
- Three‑story commercial building
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
$374,257
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
3.25%
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%
$7,485,140
$7.5M
Cap Rate 7%
$5,346,529
$5.3M
Cap Rate 9%
$4,158,411
$4.2M
Market Conditions
NOI Build-Up for 18,899 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
$567.0K $30.00/SF
− Vacancy
−$32.3K −$1.71/SF
EGI
$534.7K $28.29/SF
− OpEx
−$160.4K −$8.49/SF
NOI
$374.3K $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%
$7,485,140
Cap Rate 7%
$5,346,529
Cap Rate 9%
$4,158,411
Alternative Uses
Best Use
Retail
$5.35M
$4.68M – $6.24M
NOI $374,257 @ 7.0% cap · market cap 3.25%
Second Best
Office B
$4.64M
$4.06M – $5.42M
NOI $324,976 @ 7.0% cap · market cap 2.83%
Theoretical Best
Specialty Retail
$12.50M
$10.93M – $14.58M
NOI $874,693 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,663
Businesses Nearby
Explore this area
Business Placement
Demographics for 11561, NY
39,132
Population
18,442
Households
2.1
Avg Household Size
45
Median Age
53%
College-Educated
96%
High-School Grad
4.0 sq mi
ZIP Area
9,783
Density / Sq Mi
$132,903
Median Household Income
$72,221
Median Earnings
$2,462
Median Rent
$676,600
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 - Three-story commercial property combines retail and office space with multiple existing tenants.
Where is this mixed-use property located?
The property is located at 2 W Park Ave Long Beach, NY.
What is the asking price?
The asking price for this property is $11,500,000.
What are key features of this property?
This property features: 18,899‑square‑foot mixed‑use building; Retail and office space within the same property; Three‑story commercial building
