Building Details

Building Size 850 SF

Units 1

Listed By: Marie Sottile ABR HFR Show Phone

Source: Elliman

Added: Mar 10 Changed: Sep 28 Last Checked: Oct 4 at 11:21AM

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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 Marie Sottile ABR HFR

Investment Insights

Based on property information with market context.

This is a 16-seat restaurant that has been completely renovated with new equipment. The property is suitable for conventional restaurant use.

Key Highlights

• 16‑seat restaurant
• Completely renovated interior
• New equipment

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,455

Cap Rate

3.09%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$309,100 $309.1K

Cap Rate 7%

$220,786 $220.8K

Cap Rate 9%

$171,722 $171.7K

Market Conditions

NOI Build-Up for 850 SF

Gross rent

$22.1K $26.04/SF

− Vacancy

−$1.5K −$1.80/SF

EGI

$20.6K $24.24/SF

− OpEx

−$5.2K −$6.06/SF

NOI

$15.5K $18.18/SF

Area

Suffolk County, NY

Vacancy

6.90%

Lease Rate

$26.04 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$309,100

Cap Rate 7%

$220,786

Cap Rate 9%

$171,722

Alternative Uses

Best Use

Specialty Retail

$220.8K

$193.2K – $257.6K (±1% cap)

NOI $15,455 @ 7.0% cap · market cap 3.09%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$258.9K

$226.6K – $302.1K (±1% cap)

NOI $18,126 @ 7.0% cap · market cap 3.63%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Conventional restaurants

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Spa & Massage Center Hair Salon Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

228

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 11951, NY

13,827

Population

5,352

Households

2.6

Avg Household Size

38

Median Age

20%

College-Educated

86%

High-School Grad

4.8 sq mi

ZIP Area

2,881

Density / Sq Mi

$108,877

Median Household Income

$51,255

Median Earnings

$2,313

Median Rent

$321,200

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Turnkey restaurant with 16 seats, fully renovated interior.

Where is this conventional restaurant located?

The property is located at 323 Neighborhood Rd Mastic Beach, NY.

What is the asking price?

The asking price for this property is $500,000.

What are key features of this property?

This property features: 16‑seat restaurant; Completely renovated interior; New equipment