Waterfront Retail Space on Nautical
For Sale
$736,000
377 Woodcleft Ave, Freeport, NY 11520
Unique retail space with waterfront view and income potential.
Property Size1,200 SF
Price / SF$613.33
Days on Market239
Property Features for 377 Woodcleft Ave
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Commercial
Building Details
Year Built
1971
Listing Agency:
Charles Rutenberg Realty Inc
Listed By:
Chang Chao Ceng CBR rpfeffer@crrli.net
(917) 558-5599
Source:
Searchhomesinlongisland
Added: Mar 4
Changed: Oct 25
Last Checked: Oct 28 at 8:49AM
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 Charles Rutenberg Realty Inc
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Investment Insights
Based on property information with market context.
This almost finished retail space is suitable for various concepts, including a boutique coffee shop, bubble tea shop, poke restaurant, small drinking bar, or ice cream parlor. It is located in the heart of the historical Nautical Mile, an area known for dining and entertainment. The retail space features a waterfront view, two 45-foot slips with shore power, and a 550-square-foot two-level waterfront deck with gated fencing. The deck can be used for relaxation, barbecues, or enjoying the waterfront. The property offers income potential. With proper permits and zoning changes, the property could potentially be converted into a waterfront residential space. The location has a walk score of 75, indicating it is very walkable, a bike score of 49, indicating it is somewhat bikeable, and a transit score of 37, indicating some transit options are available.
Key Highlights
- Prime location in the heart of the legendary and historical Nautical Mile.
- Unique, almost finished retail space suitable for various business concepts.
- Waterfront view with a 550sf two‑level waterfront deck and gated fencing.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,764
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$475,280
$475.3K
Cap Rate 7%
$339,486
$339.5K
Cap Rate 9%
$264,044
$264.0K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$36.0K $30.00/SF
− Vacancy
−$2.1K −$1.71/SF
EGI
$33.9K $28.29/SF
− OpEx
−$10.2K −$8.49/SF
NOI
$23.8K $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 Rate 5%
$475,280
Cap Rate 7%
$339,486
Cap Rate 9%
$264,044
Alternative Uses
Best Use
Retail
$339.5K
$297.1K – $396.1K
NOI $23,764 @ 7.0% cap · market cap 3.23%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$793.4K
$694.2K – $925.7K
NOI $55,539 @ 7.0% cap · market cap 7.55%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
230
Businesses Nearby
Explore this area
Business Placement
Demographics for 11520, NY
45,121
Population
14,912
Households
3
Avg Household Size
39
Median Age
27%
College-Educated
86%
High-School Grad
5.1 sq mi
ZIP Area
8,847
Density / Sq Mi
$119,407
Median Household Income
$47,475
Median Earnings
$1,984
Median Rent
$480,600
Median Home Value
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - Unique retail space with waterfront view and income potential.
Where is this retail space located?
The property is located at 377 Woodcleft Ave Freeport, NY.
What is the asking price?
The asking price for this property is $736,000.
What are key features of this property?
This property features: Prime location in the heart of the legendary and historical Nautical Mile.; Unique, almost finished retail space suitable for various business concepts.; Waterfront view with a 550sf two‑level waterfront deck and gated fencing.**
