Renovated Restaurant with Party
For Sale
$3,200,000
45 Carmans Road, Massapequa, NY 11758
Fine-dining layout includes a bar, private event rooms, and dedicated parking.
Property Size5,304 SF
Days on Market163
Property Features for 45 Carmans Road
General Information
Standard status
Active
Size
5,304 SF
Total Parking Spaces
86
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$86,752
Building Details
Building Size
5,304 SF
Listing Agency:
E Realty International Corp
(646) 708-2063
Listed By:
Meiying Lin · License #10401290222
(646) 708-2063
Source:
Cornerstonemyhome
Added: Mar 21
Changed: Aug 29
Last Checked: Aug 29 at 10:18AM
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 E Realty International Corp
Investment Insights
Based on property information with market context.
Located at 45 Carmans Road in Massapequa, this conventional restaurant features a fine-dining setup with a dedicated bar, seating for 250+ guests, and two private party rooms. The property has undergone a luxury renovation and is configured for large-scale dining and private events.
The restaurant includes 86 dedicated parking spaces and is positioned near Macy's, Dick's Sporting Goods, banks, and shopping centers. The current lease has 8 years remaining, providing an established operating framework for the property.
The restaurant includes 86 dedicated parking spaces and is positioned near Macy's, Dick's Sporting Goods, banks, and shopping centers. The current lease has 8 years remaining, providing an established operating framework for the property.
Key Highlights
- Seating capacity for 250+ guests
- Two private party rooms
- 86 dedicated parking spaces
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
$245,482
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
7.67%
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%
$4,909,640
$4.9M
Cap Rate 7%
$3,506,886
$3.5M
Cap Rate 9%
$2,727,578
$2.7M
Market Conditions
NOI Build-Up for 5,304 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
$350.1K $66.00/SF
− Vacancy
−$22.8K −$4.29/SF
EGI
$327.3K $61.71/SF
− OpEx
−$81.8K −$15.43/SF
NOI
$245.5K $46.28/SF
Area
Nassau County, NY
Vacancy
6.50%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
25.00%
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%
$4,909,640
Cap Rate 7%
$3,506,886
Cap Rate 9%
$2,727,578
Alternative Uses
Best Use
Specialty Retail
$3.51M
$3.07M – $4.09M
NOI $245,482 @ 7.0% cap · market cap 7.67%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
858
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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?
Conventional restaurant - Fine-dining layout includes a bar, private event rooms, and dedicated parking.
Where is this conventional restaurant located?
The property is located at 45 Carmans Road Massapequa, NY.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Seating capacity for 250+ guests; Two private party rooms; 86 dedicated parking spaces
