Building Details

Building Size 3,828 SF

Year Built 1899

Buildings 2

Units 3

Listing Agency: Elena Ermogenous Show Phone

Listed By: Elena Ermogenous Show Phone

Source: Croninreale

Added: Sep 8 Changed: Oct 23 Last Checked: Oct 23 at 9:52AM

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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 Elena Ermogenous

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Investment Insights

Based on property information with market context.

This mixed-use property contains two storefronts, office space, and one apartment. The storefronts are currently joined and operating as a single store. The building totals 3,828 square feet and dates to 1899.

Located at 239 Glen Cove Avenue in Sea Cliff, the property brings retail, office, and residential space together within one building.

Key Highlights

• 3,828‑square‑foot mixed‑use building
• Two storefronts currently combined as one store
• Includes an office and one apartment

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$75,806

Cap Rate

8.61%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,516,120 $1.5M

Cap Rate 7%

$1,082,943 $1.1M

Cap Rate 9%

$842,289 $842.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,828 SF

Gross rent

$114.8K $30.00/SF

− Vacancy

−$6.5K −$1.71/SF

EGI

$108.3K $28.29/SF

− OpEx

−$32.5K −$8.49/SF

NOI

$75.8K $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 Rate 5%

$1,516,120

Cap Rate 7%

$1,082,943

Cap Rate 9%

$842,289

Alternative Uses

Best Use

Retail

$1.08M

$947.6K – $1.26M (±1% cap)

NOI $75,806 @ 7.0% cap · market cap 8.61%

Second Best

Mixed Use

$754.7K

$660.3K – $880.4K (±1% cap)

NOI $52,826 @ 7.0% cap · market cap 6.00%

Theoretical Best

Specialty Retail

$2.53M

$2.21M – $2.95M (±1% cap)

NOI $177,169 @ 7.0% cap · market cap 20.13%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Guardian Angel Family Clothing & Fashion Store

Suggested Use

Top Pick Dental Office Law Firm Computer & Electronic Repair Barber Shop (Bike/Boat/Book/etc) Store Hotel & Motel

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Residential units

Location Intelligence

Trade Area within ½ mile

671

Businesses Nearby

36k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Dining 60% Home Improvements & Furnishings 22% Shops & Services 17%

Starbucks Dining

10,904 visits/mo 0.2 miles

Sherwin-Williams Paint Store Home Improvements & Furnishings

8,034 visits/mo 0.1 miles

7-Eleven Shops & Services

6,277 visits/mo 0.1 miles

Cactus Dining

5,163 visits/mo 0.1 miles

Dunkin' Donuts Dining

4,797 visits/mo 0.4 miles

Demographics for 11579, NY

5,039

Population

1,977

Households

2.5

Avg Household Size

47

Median Age

63%

College-Educated

98%

High-School Grad

1.1 sq mi

ZIP Area

4,581

Density / Sq Mi

$185,650

Median Household Income

$76,981

Median Earnings

$2,268

Median Rent

$926,500

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - A two-store layout with office space and a residential apartment provides a combination of commercial and living areas.

Where is this mixed-use property located?

The property is located at 239 Glen Cove Avenue Sea Cliff, NY.

What is the asking price?

The asking price for this property is $880,000.

What are key features of this property?

This property features: 3,828‑square‑foot mixed‑use building; Two storefronts currently combined as one store; Includes an office and one apartment