Four Commercial Spaces on
For Sale
$2,800,000
490-498 Uniondale Ave 4, Uniondale, NY 11553
Four commercial spaces available on a walkable street.
Property Size6,356 SF
Days on Market121
Property Features for 490-498 Uniondale Ave 4
General Information
Standard status
Active
Size
6,356 SF
Property subtype
Industrial
Taxes and HOA fees
Annual Taxes
$46,023
Building Details
Building Size
6,356 SF
Year Built
1954
Units
4
Listing Agency:
BLUE BANNER REAL ESTATE
(516) 538-1978
Listed By:
Lawrence K. Johnson
(516) 538-1978
Source:
Elliman
Added: Apr 11
Changed: Aug 8
Last Checked: Aug 8 at 1:00PM
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 BLUE BANNER REAL ESTATE
Investment Insights
Based on property information with market context.
The property features four large commercial spaces. The location has a walk score of 82, indicating it is very walkable. The bike score is 52, making it bikeable. The transit score is 37, indicating some transit options are available.
Key Highlights
- Four large commercial spaces provide ample opportunities.
- Very Walkable location with a Walk Score of 82.
- Located on Main.
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
$90,963
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
3.25%
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%
$1,819,260
$1.8M
Cap Rate 7%
$1,299,471
$1.3M
Cap Rate 9%
$1,010,700
$1.0M
Market Conditions
NOI Build-Up for 6,356 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
$139.6K $21.96/SF
− Vacancy
−$9.6K −$1.52/SF
EGI
$129.9K $20.44/SF
− OpEx
−$39.0K −$6.13/SF
NOI
$91.0K $14.31/SF
Area
Nassau County, NY
Vacancy
6.90%
Lease Rate
$21.96 /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%
$1,819,260
Cap Rate 7%
$1,299,471
Cap Rate 9%
$1,010,700
Alternative Uses
Best Use
Industrial
$1.30M
$1.14M – $1.52M
NOI $90,963 @ 7.0% cap · market cap 3.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.20M
$3.68M – $4.90M
NOI $294,172 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
991
Businesses Nearby
Explore this area
Business Placement
Demographics for 11553, NY
26,929
Population
7,365
Households
3.7
Avg Household Size
36
Median Age
22%
College-Educated
82%
High-School Grad
3.2 sq mi
ZIP Area
8,415
Density / Sq Mi
$105,994
Median Household Income
$41,564
Median Earnings
$2,122
Median Rent
$486,100
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - Four commercial spaces available on a walkable street.
Where is this industrial property located?
The property is located at 490-498 Uniondale Ave 4 Uniondale, NY.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Four large commercial spaces provide ample opportunities.; Very Walkable location with a Walk Score of 82.; Located on Main.
