Two-Unit Duplex with Finished
For Sale
$1,395,000
34 Nassau Avenue, Glen Cove, NY 11542
Finished lower-level rooms and a separate walk-out entrance add flexible space.
Property Size2,521 SF
Days on Market13
Property Features for 34 Nassau Avenue
General Information
Standard status
Active
Size
2,521 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$17,399
Building Details
Building Size
2,521 SF
Year Built
2007
Buildings
1
Listing Agency:
LAFFEY REAL ESTATE
(917) 327-1713
Listed By:
Luz M. Hurtado
Source:
Cottiemaxwellrealestate
Added: Aug 17
Changed: Aug 29
Last Checked: Aug 29 at 3:58PM
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 LAFFEY REAL ESTATE
Investment Insights
Based on property information with market context.
Built in 2007, this duplex contains two residential units and a finished basement with its own walk-out entrance. The lower level includes multiple finished rooms that can accommodate recreation, office, or storage uses, providing additional flexibility beyond the primary living areas.
Exterior improvements include a reinforced concrete driveway base beneath brickwork, along with brick and paver finishes across the side patio and rear areas. The property is located near shopping, dining, transportation, and parks in Glen Cove, offering access to a range of everyday amenities and services.
Exterior improvements include a reinforced concrete driveway base beneath brickwork, along with brick and paver finishes across the side patio and rear areas. The property is located near shopping, dining, transportation, and parks in Glen Cove, offering access to a range of everyday amenities and services.
Key Highlights
- Two residential units in a duplex built in 2007
- Finished basement with separate walk‑out entrance
- Multiple finished lower‑level rooms for recreation, office, or storage use
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
$48,028
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
3.44%
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%
$960,560
$960.6K
Cap Rate 7%
$686,114
$686.1K
Cap Rate 9%
$533,644
$533.6K
Market Conditions
NOI Build-Up for 2,521 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
$72.6K $28.80/SF
− Vacancy
−$4.0K −$1.58/SF
EGI
$68.6K $27.22/SF
− OpEx
−$20.6K −$8.16/SF
NOI
$48.0K $19.05/SF
Area
Nassau County, NY
Vacancy
5.50%
Lease Rate
$28.80 /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%
$960,560
Cap Rate 7%
$686,114
Cap Rate 9%
$533,644
Alternative Uses
Best Use
Multifamily LT 5
$686.1K
$600.4K – $800.5K
NOI $48,028 @ 7.0% cap · market cap 3.44%
Second Best
Apartment 5plus
$642.4K
$562.1K – $749.5K
NOI $44,968 @ 7.0% cap · market cap 3.22%
Theoretical Best
Specialty Retail
$1.67M
$1.46M – $1.94M
NOI $116,678 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
477
Businesses Nearby
Explore this area
Business Placement
Demographics for 11542, NY
29,171
Population
11,374
Households
2.6
Avg Household Size
43
Median Age
41%
College-Educated
86%
High-School Grad
6.7 sq mi
ZIP Area
4,354
Density / Sq Mi
$92,284
Median Household Income
$52,855
Median Earnings
$2,350
Median Rent
$659,300
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?
Duplex - Finished lower-level rooms and a separate walk-out entrance add flexible space.
Where is this duplex located?
The property is located at 34 Nassau Avenue Glen Cove, NY.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Two residential units in a duplex built in 2007; Finished basement with separate walk‑out entrance; Multiple finished lower‑level rooms for recreation, office, or storage use
