Waterfront Triplex With Private
New
For Sale
$899,999
280 S Bayview Avenue, Amityville, NY 11701
Three legal apartments combine flexible living arrangements with canal access and proximity to the beach.
Property Size2,791 SF
Days on Market6
Property Features for 280 S Bayview Avenue
General Information
Standard status
Active
Size
2,791 SF
Total Parking Spaces
4
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$18,914
Building Details
Building Size
2,791 SF
Year Built
1957
Units
3
Listing Agency:
Our Community Realty Ltd
(516) 317-6722
Listed By:
Pamela Pegus
(516) 317-6722
Source:
Cohenandcohenrealty
Added: Aug 15
Changed: Aug 18
Last Checked: Aug 19 at 3:31PM
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 Our Community Realty Ltd
Investment Insights
Based on property information with market context.
Built in 1957, this corner triplex contains three legal apartments arranged for separate household use. The renovated main-level residence offers three bedrooms, one full bath, a separate dining room, laundry with a new washer and dryer, and an open kitchen and living area with a center island. Two additional apartments occupy the upper level: one has two bedrooms and one full bath, while the other includes one bedroom and one full bath.
The rear of the property faces the canal and includes a private dock sized for two boats, providing direct water access. The property is located at 280 S Bayview Avenue in Amityville, approximately three minutes from the beach. Its layout may accommodate an owner occupant, extended family arrangement, or investor seeking multiple legal living spaces.
The rear of the property faces the canal and includes a private dock sized for two boats, providing direct water access. The property is located at 280 S Bayview Avenue in Amityville, approximately three minutes from the beach. Its layout may accommodate an owner occupant, extended family arrangement, or investor seeking multiple legal living spaces.
Key Highlights
- Three legal apartments: 3‑bedroom, 2‑bedroom, and 1‑bedroom layouts
- Private dock accommodates two boats with direct canal access
- Renovated main‑level apartment includes 3 bedrooms and 1 full bath
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
$53,895
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
5.99%
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%
$1,077,900
$1.1M
Cap Rate 7%
$769,929
$769.9K
Cap Rate 9%
$598,833
$598.8K
Market Conditions
NOI Build-Up for 2,791 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
$82.1K $29.40/SF
− Vacancy
−$5.1K −$1.81/SF
EGI
$77.0K $27.59/SF
− OpEx
−$23.1K −$8.28/SF
NOI
$53.9K $19.31/SF
Area
Suffolk County, NY
Vacancy
6.17%
Lease Rate
$29.40 /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%
$1,077,900
Cap Rate 7%
$769,929
Cap Rate 9%
$598,833
Alternative Uses
Best Use
Multifamily LT 5
$769.9K
$673.7K – $898.3K
NOI $53,895 @ 7.0% cap · market cap 5.99%
Second Best
Apartment 5plus
$708.6K
$620.0K – $826.7K
NOI $49,603 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$850.3K
$744.0K – $992.0K
NOI $59,519 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
186
Businesses Nearby
Explore this area
Business Placement
Demographics for 11701, NY
27,831
Population
9,544
Households
2.9
Avg Household Size
41
Median Age
31%
College-Educated
87%
High-School Grad
4.6 sq mi
ZIP Area
6,050
Density / Sq Mi
$110,639
Median Household Income
$48,080
Median Earnings
$2,307
Median Rent
$489,000
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?
Triplex - Three legal apartments combine flexible living arrangements with canal access and proximity to the beach.
Where is this triplex located?
The property is located at 280 S Bayview Avenue Amityville, NY.
What is the asking price?
The asking price for this property is $899,999.
What are key features of this property?
This property features: Three legal apartments: 3‑bedroom, 2‑bedroom, and 1‑bedroom layouts; Private dock accommodates two boats with direct canal access; Renovated main‑level apartment includes 3 bedrooms and 1 full bath
