Mixed-Use Property with
For Sale
$1,900,000
2453 Long Beach Road, Oceanside, NY 11572
Operating restaurant space combines with offices, residential units, garage parking, and updated building systems.
Property Size2,258 SF
Days on Market51
Property Features for 2453 Long Beach Road
General Information
Standard status
Active
Size
2,258 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$21,481
Building Details
Building Size
2,258 SF
Year Built
1977
Stories
2
Units
5
Listing Agency:
Gull Realty Inc
(516) 889-4600
Listed By:
Maria R. Aramanda
Source:
Cohenandcohenrealty
Added: Jun 23
Changed: Aug 9
Last Checked: Aug 11 at 1:57PM
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 Gull Realty Inc
Investment Insights
Based on property information with market context.
This mixed-use property includes an operating walk-in restaurant, renovated rear office space, and a second-floor residential component with two apartments. The layout also includes a four-car garage, a parking lot, and a driveway, providing several on-site functional areas within one property. A third apartment is identified as a possible addition.
Recent property updates include a new roof, updated sewer lines, improvements to the heating system, gas heat, upgraded electrical service, and new concrete. Built in 1977, the property combines commercial, office, residential, parking, and garage elements in a single building configuration.
Recent property updates include a new roof, updated sewer lines, improvements to the heating system, gas heat, upgraded electrical service, and new concrete. Built in 1977, the property combines commercial, office, residential, parking, and garage elements in a single building configuration.
Key Highlights
- Operating walk‑in restaurant with renovated rear offices
- Second floor contains 2 apartments; a third unit is possible
- 4‑car garage, parking lot, and driveway
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
$104,506
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
5.50%
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%
$2,090,120
$2.1M
Cap Rate 7%
$1,492,943
$1.5M
Cap Rate 9%
$1,161,178
$1.2M
Market Conditions
NOI Build-Up for 2,258 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
$149.0K $66.00/SF
− Vacancy
−$9.7K −$4.29/SF
EGI
$139.3K $61.71/SF
− OpEx
−$34.8K −$15.43/SF
NOI
$104.5K $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%
$2,090,120
Cap Rate 7%
$1,492,943
Cap Rate 9%
$1,161,178
Alternative Uses
Best Use
Specialty Retail
$1.49M
$1.31M – $1.74M
NOI $104,506 @ 7.0% cap · market cap 5.50%
Second Best
Multifamily LT 5
$614.5K
$537.7K – $717.0K
NOI $43,018 @ 7.0% cap · market cap 2.26%
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
2,417
Businesses Nearby
Explore this area
Business Placement
Demographics for 11572, NY
31,157
Population
10,811
Households
2.9
Avg Household Size
44
Median Age
48%
College-Educated
94%
High-School Grad
4.8 sq mi
ZIP Area
6,491
Density / Sq Mi
$144,419
Median Household Income
$61,627
Median Earnings
$2,118
Median Rent
$627,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Operating restaurant space combines with offices, residential units, garage parking, and updated building systems.
Where is this mixed-use property located?
The property is located at 2453 Long Beach Road Oceanside, NY.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Operating walk‑in restaurant with renovated rear offices; Second floor contains 2 apartments; a third unit is possible; 4‑car garage, parking lot, and driveway
