Two-Building Retail
For Sale
Contact for pricing
45-47 2nd Avenue, Bayshore, NY 10003
Two retail buildings with strong street frontage and parking offer a compact portfolio for continued occupied operations.
Property Size3,248 SF
Price / SF$369.46
Days on Market61
Property Features for 45-47 2nd Avenue
General Information
Standard status
Active
Size
3,248 SF
Total Parking Spaces
6
Property subtype
Retail, Multifamily
Building Details
Buildings
2
Tenancy
Single
Listing Agency:
DGNY Commercial
(516) 428-9505
Listed By:
Michael Tucker · License #10301218503
Source:
Crexi
Added: Jun 10
Changed: Aug 8
Last Checked: Aug 9 at 5:55AM
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 DGNY Commercial
Investment Insights
Based on property information with market context.
This portfolio sale includes two retail buildings totaling 3,248 SF. Building 1 contains 1,648 SF on a single floor and features approximately 44' of frontage on 2nd Avenue and 80' on Union Boulevard. Building 2 offers 1,600 SF across two floors with approximately 44' of frontage on 2nd Avenue. The property includes an elevator and provides 6 parking spaces.
The buildings are located at 45-47 2nd Avenue in Bay Shore, New York, with frontage on both 2nd Avenue and Union Boulevard, supporting street-facing retail access. The combined configuration provides two separate retail structures within a single portfolio offering.
The portfolio is currently occupied by a single tenant, which may appeal to buyers looking for an income-producing retail asset with multiple building components and defined frontage along major streets. With on-site parking and an elevator serving the multi-floor portion, the layout can support a range of retail uses that benefit from visibility and convenient customer access. For investors and owner-operators, this presentation offers a straightforward two-building package in Bay Shore retail.
The buildings are located at 45-47 2nd Avenue in Bay Shore, New York, with frontage on both 2nd Avenue and Union Boulevard, supporting street-facing retail access. The combined configuration provides two separate retail structures within a single portfolio offering.
The portfolio is currently occupied by a single tenant, which may appeal to buyers looking for an income-producing retail asset with multiple building components and defined frontage along major streets. With on-site parking and an elevator serving the multi-floor portion, the layout can support a range of retail uses that benefit from visibility and convenient customer access. For investors and owner-operators, this presentation offers a straightforward two-building package in Bay Shore retail.
Key Highlights
- Portfolio sale: two retail buildings totaling ±3,248 SF in Bay Shore, NY at 45‑47 2nd Avenue
- Building 1: ±1,648 SF, 1 floor, with 44' frontage on 2nd Ave and 80' frontage on Union Blvd
- Building 2: ±1,600 SF, 2 floors, with 44' frontage on 2nd Ave
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
$63,502
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
5.29%
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%
$1,270,040
$1.3M
Cap Rate 7%
$907,171
$907.2K
Cap Rate 9%
$705,578
$705.6K
Market Conditions
NOI Build-Up for 3,248 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
$97.4K $30.00/SF
− Vacancy
−$6.7K −$2.07/SF
EGI
$90.7K $27.93/SF
− OpEx
−$27.2K −$8.38/SF
NOI
$63.5K $19.55/SF
Area
Suffolk County, NY
Vacancy
6.90%
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%
$1,270,040
Cap Rate 7%
$907,171
Cap Rate 9%
$705,578
Alternative Uses
Best Use
Retail
$907.2K
$793.8K – $1.06M
NOI $63,502 @ 7.0% cap · market cap 5.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$989.5K
$865.8K – $1.15M
NOI $69,264 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,190
Businesses Nearby
65k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 64%
Shops & Services 36%
Burger King
Dining
19,864 visits/mo
0.4 miles
Qdoba Mexican Grill
Dining
11,500 visits/mo
0.4 miles
Speedway
Shops & Services
6,449 visits/mo
0.3 miles
Family Dollar
Shops & Services
6,250 visits/mo
0.3 miles
KFC
Dining
3,572 visits/mo
0.2 miles
Demographics for 10003, NY
57,076
Population
30,730
Households
1.9
Avg Household Size
32
Median Age
82%
College-Educated
96%
High-School Grad
0.6 sq mi
ZIP Area
95,127
Density / Sq Mi
$153,750
Median Household Income
$82,560
Median Earnings
$2,772
Median Rent
$1,137,000
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?
Retail space - Two retail buildings with strong street frontage and parking offer a compact portfolio for continued occupied operations.
Where is this retail space located?
The property is located at 45-47 2nd Avenue Bayshore, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Portfolio sale: two retail buildings totaling ±3,248 SF in Bay Shore, NY at 45‑47 2nd Avenue; Building 1: ±1,648 SF, 1 floor, with 44' frontage on 2nd Ave and 80' frontage on Union Blvd; Building 2: ±1,600 SF, 2 floors, with 44' frontage on 2nd Ave
