Retail Strip Center with
For Sale
Contact for pricing
437 Port Washington Blvd, Port Washington, NY 11050
Fully occupied retail strip center with four ingress/egress and parking ratio of 3.89 spaces per 1,000 sf.
Property Size24,100 SF
Lot Size1.37 Acres
Price / SF$684.65
Days on Market136
Property Features for 437 Port Washington Blvd
General Information
Standard status
Active
Size
24,100 SF
Class
A
Total Parking Spaces
70
Lot size
1.37 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
Modified Gross
Investment Type
Stabilized
Additional Details
Traffic Count
32,000 vehicles/day
Building Details
Year Built
1959
Buildings
3
Stories
1
Units
8
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Manhattan
Listed By:
Michael Tuccillo · License #NY 10401244358
(212) 430-5196
Source:
Crexi
Added: Apr 22
Changed: Aug 23
Last Checked: Sep 1 at 10:28AM
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 Marcus & Millichap - Manhattan
Investment Insights
Based on property information with market context.
Port Washington Town Plaza is a fully occupied retail strip center that includes three buildings: a bank branch, a multi-tenant strip center, and a standalone retail building. The property offers approximately 18,000 square feet of rentable space, supplemented by about 6,100 square feet of basement area, all situated on a 1.37-acre parcel.
The center is positioned for strong daily exposure along Port Washington Boulevard, which carries over 32,000 vehicles per day. Port Washington Town Plaza provides four points of ingress and egress and includes parking calculated at a 3.89 spaces per 1,000 square feet. The surrounding area features established retailers including North Shore Farms, Extra Space Storage, USPS, and Orangetheory Fitness, and the site is also proximate to the Port Washington LIRR station and multiple area schools. Demographic data provided indicates more than 203,000 residents within a five-mile radius and average household incomes exceeding $182,000.
The center is positioned for strong daily exposure along Port Washington Boulevard, which carries over 32,000 vehicles per day. Port Washington Town Plaza provides four points of ingress and egress and includes parking calculated at a 3.89 spaces per 1,000 square feet. The surrounding area features established retailers including North Shore Farms, Extra Space Storage, USPS, and Orangetheory Fitness, and the site is also proximate to the Port Washington LIRR station and multiple area schools. Demographic data provided indicates more than 203,000 residents within a five-mile radius and average household incomes exceeding $182,000.
Key Highlights
- Port Washington Town Plaza is a fully occupied retail strip center totaling ~18,000 SF rentable space plus ~6,100 SF basement area
- Multi‑building retail asset with three buildings: a bank branch, a multi‑tenant strip center, and a standalone retail building
- Four points of ingress/egress and a 3.89 parking spaces per 1,000 SF parking ratio
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
$477,252
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
2.89%
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%
$9,545,040
$9.5M
Cap Rate 7%
$6,817,886
$6.8M
Cap Rate 9%
$5,302,800
$5.3M
Market Conditions
NOI Build-Up for 24,100 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
$723.0K $30.00/SF
− Vacancy
−$41.2K −$1.71/SF
EGI
$681.8K $28.29/SF
− OpEx
−$204.5K −$8.49/SF
NOI
$477.3K $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%
$9,545,040
Cap Rate 7%
$6,817,886
Cap Rate 9%
$5,302,800
Alternative Uses
Best Use
Retail
$6.82M
$5.97M – $7.95M
NOI $477,252 @ 7.0% cap · market cap 2.89%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$15.93M
$13.94M – $18.59M
NOI $1,115,408 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
32,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,188
Businesses Nearby
60k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 63%
Groceries 28%
Dining 9%
Uncle Giuseppe's
Groceries
16,964 visits/mo
0.4 miles
BP
Shops & Services
8,285 visits/mo
0.2 miles
BP
Shops & Services
6,977 visits/mo
0.3 miles
Citibank
Shops & Services
6,124 visits/mo
0.4 miles
Exxon
Shops & Services
5,198 visits/mo
0.2 miles
Demographics for 11050, NY
31,512
Population
12,329
Households
2.6
Avg Household Size
44
Median Age
67%
College-Educated
96%
High-School Grad
10.1 sq mi
ZIP Area
3,120
Density / Sq Mi
$153,819
Median Household Income
$78,132
Median Earnings
$2,454
Median Rent
$990,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Port Washington Town Plaza — 437 Port Washington Blvd, Port Washington, NY 11050
- Port Plaza — Haven Ave, Port Washington, NY 11050
Frequently Asked Questions
What type of property is this?
Shopping center - Fully occupied retail strip center with four ingress/egress and parking ratio of 3.89 spaces per 1,000 sf.
Where is this shopping center located?
The property is located at 437 Port Washington Blvd Port Washington, NY.
What is the asking price?
The asking price for this property is $16,500,000.
What are key features of this property?
This property features: Port Washington Town Plaza is a fully occupied retail strip center totaling ~18,000 SF rentable space plus ~6,100 SF basement area; Multi‑building retail asset with three buildings: a bank branch, a multi‑tenant strip center, and a standalone retail building; Four points of ingress/egress and a 3.89 parking spaces per 1,000 SF parking ratio
