Mixed-Use Property With
For Sale
$1,100,000
27-29 Front Street, East Rockaway, NY 11518
Commercial Sale, East Rockaway, NY
Property Size3,600 SF
Lot Size0.09 Acres
Price / SF$305.56
Days on Market86
Property Features for 27-29 Front Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Open
Lot features
Back Yard, Level
Elementary school
Rhame Avenue Elementary School
Middle school
East Rockaway Junior-Senior High Sch
High school
East Rockaway Junior-Senior High Sch
Elementary school district
East Rockaway
Middle school district
East Rockaway
High school district
East Rockaway
Directions
Atlantic Ave to Main St to Front St
Standard status
Active
APN
2005-42-093-00-0018-0
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
24409
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas, Electric (Heating)
Cooling system
Central Air, Wall/Window Unit(s), Window Unit(s), Multi Units
Water source
Public
Building Details
Year built
1928
Floors in Building
1
Number of units
4
Flooring type
Tile - Ceramic
Building materials
Block, Brick
Listing Agency:
Coldwell Banker American Homes · Coldwell Banker Real Estate
(516) 302-8500
Listed By:
Clementine Becker E-PRO PSA
(516) 698-8890
Added: May 30
Changed: Aug 19
Last Checked: Aug 23 at 7:06PM
MLS# 1005169
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 mixed-use property combines approximately 3,600 square feet of commercial and residential space in a two-level configuration. The first floor provides approximately 1,900 square feet of updated office space with a flexible layout and an attached garage/warehouse area. That commercial area is expected to be delivered vacant at closing. The second floor contains approximately 1,700 square feet of residential apartments, which are fully leased and separately accessed from the commercial portion.
The building was constructed in 1928 and features block and brick construction, ceramic tile flooring, forced-air and other heating systems, and a combination of central and unit-based cooling. Public water and public sewer serve the property. The lot encompasses 0.0918 acres, with open parking available.
The building was constructed in 1928 and features block and brick construction, ceramic tile flooring, forced-air and other heating systems, and a combination of central and unit-based cooling. Public water and public sewer serve the property. The lot encompasses 0.0918 acres, with open parking available.
Key Highlights
- Approximately 3,600 square feet of combined commercial and residential space
- First floor includes approximately 1,900 square feet of updated office space
- Attached garage/warehouse area serves the commercial portion
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
$64,215
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
5.84%
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%
$1,284,300
$1.3M
Cap Rate 7%
$917,357
$917.4K
Cap Rate 9%
$713,500
$713.5K
Market Conditions
NOI Build-Up for 3,600 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
$122.3K $33.96/SF
− Vacancy
−$5.5K −$1.53/SF
EGI
$116.8K $32.43/SF
− OpEx
−$52.5K −$14.59/SF
NOI
$64.2K $17.84/SF
Area
Nassau County, NY
Vacancy
4.50%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
45.00%
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%
$1,284,300
Cap Rate 7%
$917,357
Cap Rate 9%
$713,500
Alternative Uses
Best Use
Apartment 5plus
$917.4K
$802.7K – $1.07M
NOI $64,215 @ 7.0% cap · market cap 5.84%
Second Best
Warehouse
$893.7K
$782.0K – $1.04M
NOI $62,561 @ 7.0% cap · market cap 5.69%
Theoretical Best
Specialty Retail
$2.38M
$2.08M – $2.78M
NOI $166,617 @ 7.0% cap · market cap 15.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
946
Businesses Nearby
Explore this area
Business Placement
Demographics for 11518, NY
10,869
Population
4,235
Households
2.6
Avg Household Size
44
Median Age
44%
College-Educated
92%
High-School Grad
1.4 sq mi
ZIP Area
7,764
Density / Sq Mi
$104,955
Median Household Income
$56,154
Median Earnings
$2,306
Median Rent
$590,800
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 - Updated office space and leased apartments occupy separate areas with distinct entrances and an attached garage warehouse.
Where is this mixed-use property located?
The property is located at 27-29 Front Street East Rockaway, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Approximately 3,600 square feet of combined commercial and residential space; First floor includes approximately 1,900 square feet of updated office space; Attached garage/warehouse area serves the commercial portion
