Mixed-Use Building with
For Sale
$1,400,000
272 Broadway, Bethpage, NY 11714
Two renovated apartments, a ground-floor commercial unit, dedicated parking, and a detached garage support multiple occupancy types.
Property Size3,221 SF
Lot Size0.21 Acres
Price / SF$309.94
Days on Market50
Property Features for 272 Broadway
General Information
Standard status
Active
Size
3,221 SF
Net Rentable
6,125 SF
Total Parking Spaces
12
Lot size
0.21 Acres
Property subtype
Mixed Use
Net Operating Income
$39,820
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Additional Details
Gross Income
$90,480
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$41,044
Amenities
full basement
detached two-bay commercial garage
central air conditioning
Building Details
Building Size
3,221 SF
Year Built
1920
Buildings
2
Tenancy
Multi
Listing Agency:
OverSouth LLC
Listed By:
Usman Naeem
(631) 770-0071
Source:
Luxuryhomeny
Added: Aug 8
Changed: Sep 16
Last Checked: Sep 24 at 4:08PM
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 OverSouth LLC
Investment Insights
Based on property information with market context.
This mixed-use building combines one ground-floor retail unit with two fully renovated two-bedroom apartments on the second level. The property provides approximately 6,125 sq. ft. of rentable space on a 9,000 sq. ft. lot, along with a full basement for storage. Residential units have gas-fired central heating and air conditioning, while the retail area and basement use oil-fired hot water heat with wall-mounted air conditioning units.
Located at 272 Broadway in Bethpage, NY, the property includes a detached two-bay commercial garage and a 12-car parking lot. Each unit has a separate electric meter, and the building is served by 200-amp electrical service. Tenants pay their own electric utilities, supporting distinct residential and commercial occupancy arrangements.
Located at 272 Broadway in Bethpage, NY, the property includes a detached two-bay commercial garage and a 12-car parking lot. Each unit has a separate electric meter, and the building is served by 200-amp electrical service. Tenants pay their own electric utilities, supporting distinct residential and commercial occupancy arrangements.
Key Highlights
- Mixed‑use building with 1 retail unit and 2 residential apartments
- Two renovated 2‑bedroom apartments on the second level
- Approximately 6,125 sq. ft. of rentable space on a 9,000 sq. ft. lot
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
$89,450
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
6.39%
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%
$1,789,000
$1.8M
Cap Rate 7%
$1,277,857
$1.3M
Cap Rate 9%
$993,889
$993.9K
Market Conditions
NOI Build-Up for 4,517 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
$135.5K $30.00/SF
− Vacancy
−$7.7K −$1.71/SF
EGI
$127.8K $28.29/SF
− OpEx
−$38.3K −$8.49/SF
NOI
$89.5K $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%
$1,789,000
Cap Rate 7%
$1,277,857
Cap Rate 9%
$993,889
Alternative Uses
Best Use
Retail
$1.28M
$1.12M – $1.49M
NOI $89,450 @ 7.0% cap · market cap 6.39%
Second Best
Apartment 5plus
$1.15M
$1.01M – $1.34M
NOI $80,572 @ 7.0% cap · market cap 5.76%
Theoretical Best
Specialty Retail
$2.99M
$2.61M – $3.48M
NOI $209,058 @ 7.0% cap · market cap 14.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
656
Businesses Nearby
Explore this area
Business Placement
Demographics for 11714, NY
22,989
Population
7,925
Households
2.9
Avg Household Size
45
Median Age
41%
College-Educated
94%
High-School Grad
4.2 sq mi
ZIP Area
5,474
Density / Sq Mi
$123,679
Median Household Income
$61,499
Median Earnings
$2,211
Median Rent
$586,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two renovated apartments, a ground-floor commercial unit, dedicated parking, and a detached garage support multiple occupancy types.
Where is this mixed-use property located?
The property is located at 272 Broadway Bethpage, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Mixed‑use building with 1 retail unit and 2 residential apartments; Two renovated 2‑bedroom apartments on the second level; Approximately 6,125 sq. ft. of rentable space on a 9,000 sq. ft. lot
