Mixed-Use Building with
For Sale
$950,000
4213 Merrick Road, Massapequa, NY 11758
Street-level commercial space is paired with a three-bedroom residential unit above.
Property Size3,077 SF
Days on Market200
Property Features for 4213 Merrick Road
General Information
Standard status
Active
Size
3,077 SF
Property subtype
Commercial
Units
Unit Mix
1 x 3BR
Multifamily Units
1
Additional Details
Business Included
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$20,640
Building Details
Building Size
3,077 SF
Year Built
1929
Listing Agency:
Douglas Elliman Real Estate
(516) 238-6756
Listed By:
Patty J. Vorilas · License #10401258736
(516) 238-6756
Source:
Mahlerrealty
Added: Feb 11
Changed: Aug 29
Last Checked: Aug 25 at 9:22AM
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 Douglas Elliman Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property combines a street-level commercial suite with a separate three-bedroom apartment on the floor above. The commercial area is built out, maintained, and currently operating as a salon, giving the next owner the option to continue that business or reconfigure the space for another approved use.
The property is located on Merrick Road in Massapequa, New York. The commercial component may suit professional, medical, wellness, retail, or office applications, subject to local approvals. Completed in 1929, the building offers both business space and an upper-level residential component within one asset.
The property is located on Merrick Road in Massapequa, New York. The commercial component may suit professional, medical, wellness, retail, or office applications, subject to local approvals. Completed in 1929, the building offers both business space and an upper-level residential component within one asset.
Key Highlights
- Street‑level commercial space with an existing salon build‑out
- Separate 3‑bedroom apartment located above the commercial space
- Commercial area is currently operating as a salon
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
$60,934
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
6.41%
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%
$1,218,680
$1.2M
Cap Rate 7%
$870,486
$870.5K
Cap Rate 9%
$677,044
$677.0K
Market Conditions
NOI Build-Up for 3,077 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
$92.3K $30.00/SF
− Vacancy
−$5.3K −$1.71/SF
EGI
$87.0K $28.29/SF
− OpEx
−$26.1K −$8.49/SF
NOI
$60.9K $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%
$1,218,680
Cap Rate 7%
$870,486
Cap Rate 9%
$677,044
Alternative Uses
Best Use
Retail
$870.5K
$761.7K – $1.02M
NOI $60,934 @ 7.0% cap · market cap 6.41%
Second Best
Mixed Use
$606.6K
$530.8K – $707.7K
NOI $42,463 @ 7.0% cap · market cap 4.47%
Theoretical Best
Specialty Retail
$2.03M
$1.78M – $2.37M
NOI $142,411 @ 7.0% cap · market cap 14.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
710
Businesses Nearby
76k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 52%
Groceries 44%
Dining 4%
Stop & Shop
Groceries
33,647 visits/mo
0.4 miles
Shell
Shops & Services
16,915 visits/mo
0.4 miles
Bethpage Federal Credit Union
Shops & Services
7,052 visits/mo
0.4 miles
TD Bank
Shops & Services
5,837 visits/mo
0.2 miles
Speedway
Shops & Services
5,659 visits/mo
0.1 miles
Demographics for 11758, NY
54,226
Population
19,297
Households
2.8
Avg Household Size
44
Median Age
50%
College-Educated
97%
High-School Grad
12.0 sq mi
ZIP Area
4,519
Density / Sq Mi
$157,404
Median Household Income
$72,947
Median Earnings
$2,153
Median Rent
$624,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level commercial space is paired with a three-bedroom residential unit above.
Where is this mixed-use property located?
The property is located at 4213 Merrick Road Massapequa, NY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Street‑level commercial space with an existing salon build‑out; Separate 3‑bedroom apartment located above the commercial space; Commercial area is currently operating as a salon
