Oyster Bay Mixed-Use
For Sale
Contact for pricing
22 Pine Hollow Rd, Oyster Bay, NY
Renovated mixed-use property with restaurant and apartment in Oyster Bay.
Property Size2,230 SF
Lot Size0.17 Acres
Price / SF$538.12
Days on Market421
Property Features for 22 Pine Hollow Rd
General Information
Standard status
Active
Size
2,230 SF
Lot size
0.17 Acres
Property subtype
RETAIL
Listing Agency:
NY Space Finders
(718) 440-8162
Listed By:
Nicholas Evangelista · License #10401378306
(516) 385-7725
Source:
Moodyscre
Added: Jul 16, 2025
Changed: Aug 8
Last Checked: Sep 8 at 7:11AM
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 NY Space Finders
Investment Insights
Based on property information with market context.
Located at 22 Pine Hollow Road in Oyster Bay, this mixed-use property presents an opportunity in a busy area near the intersection of Pine Hollow Road, South Street, Berry Hill Road, and Lexington Avenue. Situated on a 50x150 lot, the newly renovated property (2024) features a modernized restaurant on the first floor. The restaurant includes a new HVAC system, updated electrical and plumbing, a new, fully equipped kitchen line, one basement walk-in box, and two outdoor walk-ins. The restaurant provides 70 indoor seats and an outdoor courtyard with additional seating. It also has a full liquor license, jukebox, lotto machines, TVs, and hardwood floors throughout the dining and bar areas. The property also includes a second-floor, 3-bedroom apartment with a private entrance, offering rental income potential, and a third-floor walk-up attic for storage or additional space. With basement access and two restrooms, this property offers 2230 square feet of space.
Key Highlights
- Newly renovated (2024) restaurant with a fully equipped kitchen, brand‑new HVAC, and updated electrical/plumbing.
- Prime location in a bustling area near major intersections in Oyster Bay.
- Operating restaurant with 70 indoor seats, outdoor courtyard, and full liquor license.
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
$103,210
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
8.60%
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%
$2,064,200
$2.1M
Cap Rate 7%
$1,474,429
$1.5M
Cap Rate 9%
$1,146,778
$1.1M
Market Conditions
NOI Build-Up for 2,230 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
$147.2K $66.00/SF
− Vacancy
−$9.6K −$4.29/SF
EGI
$137.6K $61.71/SF
− OpEx
−$34.4K −$15.43/SF
NOI
$103.2K $46.28/SF
Area
Nassau County, NY
Vacancy
6.50%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,064,200
Cap Rate 7%
$1,474,429
Cap Rate 9%
$1,146,778
Alternative Uses
Best Use
Specialty Retail
$1.47M
$1.29M – $1.72M
NOI $103,210 @ 7.0% cap · market cap 8.60%
Second Best
Retail
$630.9K
$552.0K – $736.0K
NOI $44,161 @ 7.0% cap · market cap 3.68%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
636
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Saint and Assassin Chef — 600 Pine Hollow Rd, East Norwich, NY 11732
- W S Food Services Inc — 110 Anstice St, Oyster Bay, NY 11771
Frequently Asked Questions
What type of property is this?
Restaurant - Renovated mixed-use property with restaurant and apartment in Oyster Bay.
Where is this restaurant located?
The property is located at 22 Pine Hollow Rd Oyster Bay, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Newly renovated (2024) restaurant with a fully equipped kitchen, brand‑new HVAC, and updated electrical/plumbing.; Prime location in a bustling area near major intersections in Oyster Bay.; Operating restaurant with 70 indoor seats, outdoor courtyard, and full liquor license.
