Renovated Mixed-Use
For Sale
$1,400,000
272 Broadway, Oyster Bay, NY 11714
The property combines a street-level retail unit with two residential apartments and dedicated on-site parking.
Property Size6,125 SF
Lot Size0.21 Acres
Price / SF$228.57
Days on Market11
Property Features for 272 Broadway
General Information
Standard status
Active
Size
6,125 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
$38,372
Amenities
gas central heating and air conditioning
full basement
detached two-bay commercial garage
Central Air, Window/Wall Unit
3
Parking.
12 Parking Spaces. Driveway, Garage, Lot, On Street.
Security Lighting.
Building Details
Year Built
1920
Buildings
2
Stories
2
Tenancy
Multi
Listing Agency:
OverSouth LLC
(917) 400-9512
Listed By:
Usman Naeem
(917) 400-9512
Source:
Xome
Added: Aug 1
Changed: Aug 10
Last Checked: Aug 11 at 5:17AM
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.
Built in 1920, this mixed-use property at 272 Broadway includes approximately 6,125 square feet of rentable space on a 9,000-square-foot lot. The configuration includes one ground-floor retail unit, two second-floor two-bedroom apartments, a full basement, and a detached two-bay commercial garage. The apartments were fully renovated approximately four months ago and include gas-fired central heating and air conditioning. The retail area and basement use oil-fired hot-water heat with wall-mounted air-conditioning units.
On-site parking includes 12 spaces. Each unit has a separate electric meter, and the building is served by 200-amp electrical service. The basement provides additional storage, while the property’s mixed residential and retail layout supports multiple occupancy types within one building.
On-site parking includes 12 spaces. Each unit has a separate electric meter, and the building is served by 200-amp electrical service. The basement provides additional storage, while the property’s mixed residential and retail layout supports multiple occupancy types within one building.
Key Highlights
- One ground‑floor retail unit and two second‑floor two‑bedroom apartments
- Approximately 6,125 sq. ft. of rentable space on a 9,000 sq. ft. lot
- Two residential apartments renovated approximately four months ago
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
$121,293
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
8.66%
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%
$2,425,860
$2.4M
Cap Rate 7%
$1,732,757
$1.7M
Cap Rate 9%
$1,347,700
$1.3M
Market Conditions
NOI Build-Up for 6,125 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
$183.8K $30.00/SF
− Vacancy
−$10.5K −$1.71/SF
EGI
$173.3K $28.29/SF
− OpEx
−$52.0K −$8.49/SF
NOI
$121.3K $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%
$2,425,860
Cap Rate 7%
$1,732,757
Cap Rate 9%
$1,347,700
Alternative Uses
Best Use
Retail
$1.73M
$1.52M – $2.02M
NOI $121,293 @ 7.0% cap · market cap 8.66%
Second Best
Apartment 5plus
$1.56M
$1.37M – $1.82M
NOI $109,255 @ 7.0% cap · market cap 7.80%
Theoretical Best
Specialty Retail
$4.05M
$3.54M – $4.72M
NOI $283,480 @ 7.0% cap · market cap 20.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines a street-level retail unit with two residential apartments and dedicated on-site parking.
Where is this mixed-use property located?
The property is located at 272 Broadway Oyster Bay, 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: One ground‑floor retail unit and two second‑floor two‑bedroom apartments; Approximately 6,125 sq. ft. of rentable space on a 9,000 sq. ft. lot; Two residential apartments renovated approximately four months ago
