Legal Three-Family
For Sale
$909,900
443 Babylon Tpke, Freeport, NY 11520
Legal three-family configuration with substantial outdoor space and flexible occupancy potential.
Property Size2,992 SF
Lot Size0.52 Acres
Price / SF$304.11
Days on Market16
Property Features for 443 Babylon Tpke
General Information
Standard status
Active
Size
2,992 SF
Lot size
0.52 Acres
Property subtype
Residential Income
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$14,825
Listing Agency:
Espanol Realty Ltd
Listed By:
Nino Perdomo RSPS
(516) 857-4287
Source:
Exprealty
Added: Sep 9
Changed: Sep 20
Last Checked: Sep 22 at 7:04PM
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 Espanol Realty Ltd
Investment Insights
Based on property information with market context.
This triplex at 443 Babylon Turnpike is configured for legal three-family use and contains approximately 2,992 square feet of building area. The property sits on an approximately 22,599-square-foot lot, or about 0.52 acres, with approximate dimensions of 100 feet by 226 feet. The scale of the parcel provides substantial outdoor area for a multifamily property.
The property is near shopping, transportation, schools, and major roadways in Freeport, New York. Its three-family designation supports a range of ownership and occupancy arrangements, including multifamily rental use, multigenerational living, or an owner-occupied setup with additional residential space.
The property is near shopping, transportation, schools, and major roadways in Freeport, New York. Its three-family designation supports a range of ownership and occupancy arrangements, including multifamily rental use, multigenerational living, or an owner-occupied setup with additional residential space.
Key Highlights
- Legal three‑family use
- Approximately 2,992 square feet of building area
- Approximately 22,599‑square‑foot lot, or 0.52 acres
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
$57,001
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
6.26%
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%
$1,140,020
$1.1M
Cap Rate 7%
$814,300
$814.3K
Cap Rate 9%
$633,344
$633.3K
Market Conditions
NOI Build-Up for 2,992 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
$86.2K $28.80/SF
− Vacancy
−$4.7K −$1.58/SF
EGI
$81.4K $27.22/SF
− OpEx
−$24.4K −$8.16/SF
NOI
$57.0K $19.05/SF
Area
Nassau County, NY
Vacancy
5.50%
Lease Rate
$28.80 /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%
$1,140,020
Cap Rate 7%
$814,300
Cap Rate 9%
$633,344
Alternative Uses
Best Use
Multifamily LT 5
$814.3K
$712.5K – $950.0K
NOI $57,001 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$762.4K
$667.1K – $889.5K
NOI $53,370 @ 7.0% cap · market cap 5.87%
Theoretical Best
Specialty Retail
$1.98M
$1.73M – $2.31M
NOI $138,477 @ 7.0% cap · market cap 15.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
618
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Legal three-family configuration with substantial outdoor space and flexible occupancy potential.
Where is this triplex located?
The property is located at 443 Babylon Tpke Freeport, NY.
What is the asking price?
The asking price for this property is $909,900.
What are key features of this property?
This property features: Legal three‑family use; Approximately 2,992 square feet of building area; Approximately 22,599‑square‑foot lot, or 0.52 acres
