Mixed-Use Investment
27-29 Front Street East Rockaway, NY 11518
For Sale
$1,100,000
Two-story mixed-use building with updated first-floor office and garage/warehouse space plus rented second-floor residential apartments.
Property Size3,600 SF
Price / SF$305.56
Days on Market54
Property Features for 27-29 Front Street
General Information
- Standard status
- Active
- Size
- 3,600 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1928
Listing Agency:
COLDWELL BANKER AMERICAN HOMES
(516) 302-8500
Listed By:
CLEMENTINE BECKER E-PRO PSA
Source:
Corcoran
Added: May 31
Changed: Jul 22
Last Checked: Jul 22 at 9:30PM
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 COLDWELL BANKER AMERICAN HOMES
Investment Insights
Based on property information with market context.
This mixed-use property includes approximately 1,900 square feet of updated first-floor commercial space featuring office area and a separate garage/warehouse component with a dedicated entrance. The current owner occupies the commercial portion, and the property is expected to be delivered vacant at closing, supporting either owner-occupancy or leasing after transfer.
The second floor contains approximately 1,700 square feet of fully rented residential apartments with separate access from the commercial portion. Public remarks indicate this residential income totals $6,000 per month.
The asset is positioned for multiple income streams through the combination of commercial flexibility and residential occupancy. Purchasers should verify potential uses and requirements in accordance with local zoning regulations and permitting.
The second floor contains approximately 1,700 square feet of fully rented residential apartments with separate access from the commercial portion. Public remarks indicate this residential income totals $6,000 per month.
The asset is positioned for multiple income streams through the combination of commercial flexibility and residential occupancy. Purchasers should verify potential uses and requirements in accordance with local zoning regulations and permitting.
Key Highlights
- Approximately 1,900 SF updated first‑floor commercial space with office plus garage/warehouse areas
- Approximately 1,700 SF fully rented second‑floor residential apartments generating $6,000/month
- Owner‑occupied commercial space expected to be delivered vacant at closing
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $79.1k | $21.96 |
| − Vacancy | −$5.5k | −$1.52 |
| EGI | $73.6k | $20.44 |
| − OpEx | −$11.0k | −$3.07 |
| NOI | $62.6k | $17.38 |
3,600 SF · lease $21.96/SF/yr · vacancy 6.90% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$893.7K
$782.0K – $1.04M
NOI $62,561 @ 7.0% cap · market cap 5.69%
Second Best
Office B
$884.3K
$773.8K – $1.03M
NOI $61,903 @ 7.0% cap · market cap 5.63%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
FAQs
What type of property is this?
Mixed-use property - Two-story mixed-use building with updated first-floor office and garage/warehouse space plus rented second-floor residential apartments.
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 1,900 SF updated first‑floor commercial space with office plus garage/warehouse areas; Approximately 1,700 SF fully rented second‑floor residential apartments generating $6,000/month; Owner‑occupied commercial space expected to be delivered vacant at closing
