Mixed-Use Retail and Office
For Sale
Contact for pricing
351-355 Plandome Road & 12 Bayview Ave, Manhasset, NY 11030
Three-story building with first-floor retail, second-floor office, and a lower-level component, plus 30 parking spaces.
Property Size10,700 SF
Price / SF$485.98
Days on Market138
Property Features for 351-355 Plandome Road & 12 Bayview Ave
General Information
Standard status
Active
Size
10,700 SF
Total Parking Spaces
30
Property subtype
Retail, Mixed Use
Zoning
Business A District
Investment Type
Owner/User
Building Details
Stories
2
Listing Agency:
JLL - Melville, New York
Listed By:
Joseph Lopresti · License #NY 40LO0967062
(631) 962-2900
Source:
Crexi
Added: Apr 23
Changed: Aug 26
Last Checked: Sep 7 at 12:22PM
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 JLL - Melville, New York
Investment Insights
Based on property information with market context.
This mixed-use property totals approximately 10,700 square feet across three floors, with approximately 4,600 square feet on the first floor retail level, approximately 1,500 square feet on the second floor office level, and approximately 4,600 square feet on the lower level. The ground floor was previously occupied by a bank.
Access and parking are a key part of the offering, with 30 parking spaces described as 18 spaces at 12 Bayview Avenue and 12 spaces at 351–355 Plandome Road. The property is also described as steps away from the Manhasset LIRR Station.
The layout supports a mixed-use configuration with separate retail and office components on different floors, along with additional space on the lower level.
Access and parking are a key part of the offering, with 30 parking spaces described as 18 spaces at 12 Bayview Avenue and 12 spaces at 351–355 Plandome Road. The property is also described as steps away from the Manhasset LIRR Station.
The layout supports a mixed-use configuration with separate retail and office components on different floors, along with additional space on the lower level.
Key Highlights
- Mixed‑use three‑story building totaling approx. 10,700 SF across three floors
- Approx. 4,600 SF first‑floor retail; previously occupied by a bank
- Approx. 1,500 SF 2nd‑floor office space
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
$211,892
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
4.07%
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%
$4,237,840
$4.2M
Cap Rate 7%
$3,027,029
$3.0M
Cap Rate 9%
$2,354,356
$2.4M
Market Conditions
NOI Build-Up for 10,700 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
$321.0K $30.00/SF
− Vacancy
−$18.3K −$1.71/SF
EGI
$302.7K $28.29/SF
− OpEx
−$90.8K −$8.49/SF
NOI
$211.9K $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 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%
$4,237,840
Cap Rate 7%
$3,027,029
Cap Rate 9%
$2,354,356
Alternative Uses
Best Use
Retail
$3.03M
$2.65M – $3.53M
NOI $211,892 @ 7.0% cap · market cap 4.07%
Second Best
Office B
$2.63M
$2.30M – $3.07M
NOI $183,991 @ 7.0% cap · market cap 3.54%
Theoretical Best
Specialty Retail
$7.07M
$6.19M – $8.25M
NOI $495,223 @ 7.0% cap · market cap 9.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,557
Businesses Nearby
Explore this area
Business Placement
Demographics for 11030, NY
17,898
Population
6,531
Households
2.7
Avg Household Size
44
Median Age
84%
College-Educated
97%
High-School Grad
6.6 sq mi
ZIP Area
2,712
Density / Sq Mi
$247,393
Median Household Income
$109,706
Median Earnings
$2,221
Median Rent
$1,800,900
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Three-story building with first-floor retail, second-floor office, and a lower-level component, plus 30 parking spaces.
Where is this retail space located?
The property is located at 351-355 Plandome Road & 12 Bayview Ave Manhasset, NY.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: Mixed‑use three‑story building totaling approx. 10,700 SF across three floors; Approx. 4,600 SF first‑floor retail; previously occupied by a bank; Approx. 1,500 SF 2nd‑floor office space
