Retail Building with
For Sale
$2,350,000
2600-2610 Pettit Avenue, Bellmore, NY 11710
Commercial Sale, Bellmore, NY
Property Size9,000 SF
Lot Size0.09 Acres
Price / SF$261.11
Days on Market261
Property Features for 2600-2610 Pettit Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Rooms
Basement
Parking
68
Parking features
Assigned
Standard status
Active
APN
2089-56-288-00-0067-0
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
53545
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
LED lighting
400 Amp power
CAC
Basement
Rear Yard
Building Details
Year built
1924
Floors in Building
2
Number of units
5
Building materials
Block, Frame
Listing Agency:
All Island Estates Realty Corp
(516) 783-5600
Listed By:
Richard Matt Shane · License #10301216230
(516) 279-8828
Added: Dec 11, 2025
Changed: Aug 19
Last Checked: Aug 29 at 3:06PM
MLS# 943393
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 9,000-square-foot retail property contains five units with multiple offices, a restaurant and bar area, basement space, and a rear yard. The building includes 68 parking spaces, a dedicated curb cut, high 9-foot ceilings, central air conditioning, all-new LED lighting, and 400 Amp electrical service. Block and frame construction dates to 1924, with public water and sewer service. A cabaret license is in place, and the full building can be delivered vacant.
The property occupies two lots at 2600-2610 Pettit Avenue in Bellmore, at the Bellmore LIRR station and one block from Sunrise Highway. It is positioned between large municipal parking lots and near a broad mix of retail, dining, automotive, fitness, grocery, and service businesses, including Starbucks, Stop & Shop, PetSmart, CVS, Panera Bread, and Trader Joe's.
The site totals 0.0884 acres and is identified with 481.4 zoning. Existing components support retail, office, and restaurant/bar occupancy within one commercial property.
The property occupies two lots at 2600-2610 Pettit Avenue in Bellmore, at the Bellmore LIRR station and one block from Sunrise Highway. It is positioned between large municipal parking lots and near a broad mix of retail, dining, automotive, fitness, grocery, and service businesses, including Starbucks, Stop & Shop, PetSmart, CVS, Panera Bread, and Trader Joe's.
The site totals 0.0884 acres and is identified with 481.4 zoning. Existing components support retail, office, and restaurant/bar occupancy within one commercial property.
Key Highlights
- 9,000 square feet across 5 retail units
- 68 parking spaces, two lots, and a dedicated curb cut
- 481.4 zoning on a 0.0884‑acre site
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
$178,227
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
7.58%
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%
$3,564,540
$3.6M
Cap Rate 7%
$2,546,100
$2.5M
Cap Rate 9%
$1,980,300
$2.0M
Market Conditions
NOI Build-Up for 9,000 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
$270.0K $30.00/SF
− Vacancy
−$15.4K −$1.71/SF
EGI
$254.6K $28.29/SF
− OpEx
−$76.4K −$8.49/SF
NOI
$178.2K $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%
$3,564,540
Cap Rate 7%
$2,546,100
Cap Rate 9%
$1,980,300
Alternative Uses
Best Use
Specialty Retail
$5.95M
$5.21M – $6.94M
NOI $416,543 @ 7.0% cap · market cap 17.73%
Second Best
Retail
$2.55M
$2.23M – $2.97M
NOI $178,227 @ 7.0% cap · market cap 7.58%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9 ft
Clear height
4
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,687
Businesses Nearby
Explore this area
Business Placement
Demographics for 11710, NY
35,155
Population
11,717
Households
3
Avg Household Size
43
Median Age
54%
College-Educated
97%
High-School Grad
4.9 sq mi
ZIP Area
7,174
Density / Sq Mi
$173,136
Median Household Income
$76,812
Median Earnings
$2,495
Median Rent
$647,000
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?
Retail space - Five-unit commercial building with offices, restaurant and bar space, basement storage, rear yard, and central air conditioning.
Where is this retail space located?
The property is located at 2600-2610 Pettit Avenue Bellmore, NY.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: 9,000 square feet across 5 retail units; 68 parking spaces, two lots, and a dedicated curb cut; 481.4 zoning on a 0.0884‑acre site
