Restaurant with Private Dining
New
For Sale
$2,980,000
45 Carmans Rd, Massapequa, NY 11758
A bar and dedicated event rooms complement the main dining area.
Property Size5,304 SF
Days on Market3
Property Features for 45 Carmans Rd
General Information
Standard status
Active
Size
5,304 SF
Total Parking Spaces
86
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$99,855
Building Details
Building Size
5,304 SF
Listing Agency:
E REALTY INTERNATIONAL CORP.
Listed By:
Hsin Yuan Yang · License #10311205376
(646) 688-8998
Source:
Elliman
Added: Oct 19
Changed: Oct 21
Last Checked: Oct 20 at 9:30PM
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.
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Investment Insights
Based on property information with market context.
This restaurant in Massapequa has seating for more than 250 guests, a bar, and two rooms for private gatherings. The property includes 86 dedicated parking spaces.
The current lease has 8 years remaining. Nearby retailers and services include Macy’s, Dick’s Sporting Goods, banks, and shopping centers.
The current lease has 8 years remaining. Nearby retailers and services include Macy’s, Dick’s Sporting Goods, banks, and shopping centers.
Key Highlights
- Seating capacity exceeds 250 guests
- Two private event rooms and a bar
- 86 dedicated parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$245,482
Cap Rate
8.24%
Suggested Prices Based on Cap Rates
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
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 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 8.24%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - A bar and dedicated event rooms complement the main dining area.
Where is this conventional restaurant located?
The property is located at 45 Carmans Rd Massapequa, NY.
What is the asking price?
The asking price for this property is $2,980,000.
What are key features of this property?
This property features: Seating capacity exceeds 250 guests; Two private event rooms and a bar; 86 dedicated parking spaces
