Multi-Family Compound with Guest
For Sale
$3,988,888
314 Mill Hill Road, Mill Neck, NY 11765
MULTI_FAMILY - Nassau County, NY
Property Size8,264 SF
Lot Size0.67 Acres
Price / SF$482.68
Days on Market45
Property Features for 314 Mill Hill Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
8
Full bathrooms
6
Half bathrooms
2
Rooms
Bathroom 1, Bedroom 7, Bathroom 4, Bathroom 2, Bathroom 7, Bedroom 2, Bedroom 6, Bedroom 4, Bedroom 5, Bathroom 5, Bathroom 8, Bedroom 3, Bedroom 1, Bathroom 3, Bathroom 6
Parking features
Garage - Detached
Patio and Porch features
Deck, Porch, Patio
Interior features
Alarm, Central Air, Deck, Dishwasher, Disposal, Dryer, Fireplace, Garage Door Opener(s), Laundry Area, Microwave, Patio Garden, Porch, Refrigerator, Stove, Terrace, Washer, Window Treatments
Fireplace
1
Basement
Full
Standard status
Active
Size
8,264 SF
Lot size
0.67 Acres
Building Details
Year built
1836
Floors in Building
3
Flooring type
Hardwood
Building materials
Block
Roof type
Asphalt
Architectural style
Colonial
Listing Agency:
Realty Trends Corp
(929) 600-5353
Listed By:
Cheryl Rosenthal · License #10311207324
(929) 600-5353
Added: Jun 28
Changed: Aug 9
Last Checked: Aug 11 at 7:06AM
MLS# 502651
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This property is a multi-home compound that includes an 1834-built main estate and two additional guest homes. The main residence offers 7 bedrooms and 8 bathrooms, along with a chef’s kitchen and a grand formal dining room, plus a wraparound porch and a large second-floor balcony. Both guest homes are described as nicely updated and are each approximately 2,300 square feet.
The estate is associated with the Gold Coast and is noted for views of Oyster Bay Harbor. The property also includes a greenhouse described as ideal for growing fruits and vegetables, and it is stated to be in close proximity to a private beach, which is only minutes away.
Overall, the configuration supports use as a private compound for multiple households, while also offering the additional guest-home option within the same property setting.
The estate is associated with the Gold Coast and is noted for views of Oyster Bay Harbor. The property also includes a greenhouse described as ideal for growing fruits and vegetables, and it is stated to be in close proximity to a private beach, which is only minutes away.
Overall, the configuration supports use as a private compound for multiple households, while also offering the additional guest-home option within the same property setting.
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
$147,409
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
3.70%
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%
$2,948,180
$2.9M
Cap Rate 7%
$2,105,843
$2.1M
Cap Rate 9%
$1,637,878
$1.6M
Market Conditions
NOI Build-Up for 8,264 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
$280.6K $33.96/SF
− Vacancy
−$12.6K −$1.53/SF
EGI
$268.0K $32.43/SF
− OpEx
−$120.6K −$14.59/SF
NOI
$147.4K $17.84/SF
Area
Nassau County, NY
Vacancy
4.50%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
45.00%
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%
$2,948,180
Cap Rate 7%
$2,105,843
Cap Rate 9%
$1,637,878
Alternative Uses
Best Use
Apartment 5plus
$2.11M
$1.84M – $2.46M
NOI $147,409 @ 7.0% cap · market cap 3.70%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.46M
$4.78M – $6.37M
NOI $382,479 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
753
Businesses Nearby
Explore this area
Business Placement
Demographics for 11765, NY
701
Population
276
Households
2.5
Avg Household Size
44
Median Age
79%
College-Educated
96%
High-School Grad
2.3 sq mi
ZIP Area
305
Density / Sq Mi
$250,001
Median Household Income
$116,250
Median Earnings
$3,501
Median Rent
$2,000,001
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - A multi-home compound featuring a 7-bedroom main residence plus two updated guest homes and a greenhouse.
Where is this single family property located?
The property is located at 314 Mill Hill Road Mill Neck, NY.
What is the asking price?
The asking price for this property is $3,988,888.
