Building Details

Building Size 3,077 SF

Year Built 1929

Listing Agency: Douglas Elliman Real Estate b***@elliman.com Show Phone

Listed By: Patty J. Vorilas · License #10401258736 Show Phone

Source: Croninreale

Added: Feb 11 Changed: Oct 25 Last Checked: Oct 26 at 4:00AM

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Investment Insights

Based on property information with market context.

This 3,077-square-foot mixed-use property combines street-level commercial space with a three-bedroom apartment upstairs. The commercial area is built out and maintained for salon operations; the residential unit provides a separate use within the same building. Constructed in 1929, the property is located at 4213 Merrick Road in Massapequa, New York.

Key Highlights

• 3,077‑square‑foot mixed‑use property
• Street‑level commercial space built out for salon operations
• Three‑bedroom apartment on the upper floor

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$60,934

Cap Rate

6.41%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,218,680 $1.2M

Cap Rate 7%

$870,486 $870.5K

Cap Rate 9%

$677,044 $677.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,077 SF

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 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 (±1% cap)

NOI $60,934 @ 7.0% cap · market cap 6.41%

Second Best

Apartment 5plus

$784.1K

$686.1K – $914.8K (±1% cap)

NOI $54,886 @ 7.0% cap · market cap 5.78%

Theoretical Best

Specialty Retail

$2.03M

$1.78M – $2.37M (±1% cap)

NOI $142,411 @ 7.0% cap · market cap 14.99%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

A Cut Above Hair ... Hair Salon

Suggested Use

Top Pick Law Firm Real Estate Agency Grocery & Convenience Store Daycare Center (Bike/Boat/Book/etc) Store Cosmetic Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Residential units

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

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Street-level commercial space is configured for an operating salon, with a three-bedroom apartment on the upper floor.

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: 3,077‑square‑foot mixed‑use property; Street‑level commercial space built out for salon operations; Three‑bedroom apartment on the upper floor