Mixed-Use Building with
New
For Sale
$1,650,000
2904 Lincoln Avenue, Oceanside, NY 11572
Street-level retail is paired with two upstairs apartments and a detached garage with second-floor storage.
Property Size4,082 SF
Lot Size0.34 Acres
Price / SF$404.21
Days on Market7
Property Features for 2904 Lincoln Avenue
General Information
Standard status
Active
Size
4,082 SF
Lot size
0.34 Acres
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Mixed-Use Components
retail, residential
Taxes and HOA fees
Annual Taxes
$20,436
Amenities
on-site parking
detached garage
storage space
Mailbox
Building Details
Building Size
4,082 SF
Year Built
1888
Units
3
Tenancy
Multi
Listing Agency:
Stonegate Real Estate
Listed By:
Anthony M. Ponte
(516) 740-2777
Source:
Georgemcknight
Added: Oct 19
Changed: Oct 25
Last Checked: Oct 23 at 2:16PM
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 Stonegate Real Estate
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Investment Insights
Based on property information with market context.
Built in 1888, this mixed-use property combines a ground-floor storefront with two apartments above. The residential units comprise a three-bedroom, one-bath apartment and a two-bedroom, one-bath apartment. The building contains approximately 4,082 square feet, and a detached garage at the rear adds storage, including space on its second floor.
The retail space is occupied by the owner. The site measures 100' x 148' and includes on-site parking for multiple vehicles. The roof was replaced approximately 10 years ago.
The retail space is occupied by the owner. The site measures 100' x 148' and includes on-site parking for multiple vehicles. The roof was replaced approximately 10 years ago.
Key Highlights
- Ground‑floor storefront with two apartments above
- Apartments include a three‑bedroom, one‑bath unit and a two‑bedroom, one‑bath unit
- Approximately 4,082 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,836
Cap Rate
4.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,616,720
$1.6M
Cap Rate 7%
$1,154,800
$1.2M
Cap Rate 9%
$898,178
$898.2K
Market Conditions
NOI Build-Up for 4,082 SF
Gross rent
$122.5K $30.00/SF
− Vacancy
−$7.0K −$1.71/SF
EGI
$115.5K $28.29/SF
− OpEx
−$34.6K −$8.49/SF
NOI
$80.8K $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 Rate 5%
$1,616,720
Cap Rate 7%
$1,154,800
Cap Rate 9%
$898,178
Alternative Uses
Best Use
Retail
$1.15M
$1.01M – $1.35M
NOI $80,836 @ 7.0% cap · market cap 4.90%
Second Best
Apartment 5plus
$1.04M
$910.2K – $1.21M
NOI $72,813 @ 7.0% cap · market cap 4.41%
Theoretical Best
Specialty Retail
$2.70M
$2.36M – $3.15M
NOI $188,925 @ 7.0% cap · market cap 11.45%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,263
Businesses Nearby
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Business Placement
Demographics for 11572, NY
31,157
Population
10,811
Households
2.9
Avg Household Size
44
Median Age
48%
College-Educated
94%
High-School Grad
4.8 sq mi
ZIP Area
6,491
Density / Sq Mi
$144,419
Median Household Income
$61,627
Median Earnings
$2,118
Median Rent
$627,300
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
Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level retail is paired with two upstairs apartments and a detached garage with second-floor storage.
Where is this mixed-use property located?
The property is located at 2904 Lincoln Avenue Oceanside, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Ground‑floor storefront with two apartments above; Apartments include a three‑bedroom, one‑bath unit and a two‑bedroom, one‑bath unit; Approximately 4,082 square feet
