Two-Unit Flex
For Sale
Contact for pricing
27 Hanse Ave, Freeport, NY 11520
Industrial-zoned flex property with separate occupancy options and on-site parking.
Property Size6,160 SF
Lot Size0.31 Acres
Price / SF$291.40
Days on Market154
Property Features for 27 Hanse Ave
General Information
Standard status
Active
Size
6,160 SF
Class
C
Lot size
0.31 Acres
Property subtype
Industrial
Zoning
Industrial
Building Details
Year Built
1951
Buildings
1
Stories
1
Building Size
6,160 SF
Listing Agency:
North Village Realty
Listed By:
Thomas Bigansky · License #NY 10491210989
Source:
Crexi
Added: Mar 30
Changed: Aug 29
Last Checked: Aug 29 at 11:07PM
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 North Village Realty
Investment Insights
Based on property information with market context.
This 6,160 SF flex building, constructed in 1951, is arranged as two units with each measuring more than 3,000 SF. The open interior layout supports separate occupancy or a combined full-building configuration, while the existing design allows for potential installation of drive-in garage doors and additional access points.
The property occupies an approximately 13,500 SF lot, or ±0.31 acres, and includes dedicated on-site parking. Located at 27 Hanse Ave in Freeport, the building is positioned within an established industrial corridor and carries Industrial zoning.
The property occupies an approximately 13,500 SF lot, or ±0.31 acres, and includes dedicated on-site parking. Located at 27 Hanse Ave in Freeport, the building is positioned within an established industrial corridor and carries Industrial zoning.
Key Highlights
- 6,160 SF flex building on an approximately 13,500 SF lot (±0.31 acres)
- Two‑unit configuration, with each unit exceeding 3,000 SF
- Open layout supports separate or full‑building occupancy
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
$107,049
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
5.96%
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%
$2,140,980
$2.1M
Cap Rate 7%
$1,529,271
$1.5M
Cap Rate 9%
$1,189,433
$1.2M
Market Conditions
NOI Build-Up for 6,160 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
$135.3K $21.96/SF
− Vacancy
−$9.3K −$1.52/SF
EGI
$125.9K $20.44/SF
− OpEx
−$18.9K −$3.07/SF
NOI
$107.0K $17.38/SF
Area
Nassau County, NY
Vacancy
6.90%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
15.00%
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%
$2,140,980
Cap Rate 7%
$1,529,271
Cap Rate 9%
$1,189,433
Alternative Uses
Best Use
Warehouse
$1.53M
$1.34M – $1.78M
NOI $107,049 @ 7.0% cap · market cap 5.96%
Second Best
Industrial
$1.26M
$1.10M – $1.47M
NOI $88,158 @ 7.0% cap · market cap 4.91%
Theoretical Best
Specialty Retail
$4.07M
$3.56M – $4.75M
NOI $285,100 @ 7.0% cap · market cap 15.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,825
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 11520, NY
45,121
Population
14,912
Households
3
Avg Household Size
39
Median Age
27%
College-Educated
86%
High-School Grad
5.1 sq mi
ZIP Area
8,847
Density / Sq Mi
$119,407
Median Household Income
$47,475
Median Earnings
$1,984
Median Rent
$480,600
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial-zoned flex property with separate occupancy options and on-site parking.
Where is this flex space located?
The property is located at 27 Hanse Ave Freeport, NY.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: 6,160 SF flex building on an approximately 13,500 SF lot (±0.31 acres); Two‑unit configuration, with each unit exceeding 3,000 SF; Open layout supports separate or full‑building occupancy
