Renovated Restaurant with New
For Sale
$500,000
Pending
323 Neighborhood Rd, Mastic Beach, NY 11951
Turnkey restaurant with 16 seats, fully renovated interior.
Property Size850 SF
Lot Size0.11 Acres
Days on Market165
Property Features for 323 Neighborhood Rd
General Information
Standard status
Pending
Size
850 SF
Lot size
0.11 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,073
Building Details
Building Size
850 SF
Units
1
Listing Agency:
(631) 624-1251
Listed By:
Marie Sottile ABR HFR
(631) 624-1251
Source:
Elliman
Added: Mar 10
Changed: Aug 11
Last Checked: Aug 20 at 10:22AM
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 = 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
$15,455
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
3.09%
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%
$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
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
$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 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%
$309,100
Cap Rate 7%
$220,786
Cap Rate 9%
$171,722
Alternative Uses
Best Use
Specialty Retail
$220.8K
$193.2K – $257.6K
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
NOI $18,126 @ 7.0% cap · market cap 3.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
