One-Story Mixed-Use
New
For Sale
$2,300,000
500 - 514 Merrick Rd, Baldwin, NY 11510
Two connected commercial buildings combine office and retail space along Merrick Road.
Property Size13,000 SF
Price / SF$176.92
Days on Market3
Property Features for 500 - 514 Merrick Rd
General Information
Standard status
Active
Size
13,000 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$55,872
Building Details
Building Size
13,000 SF
Year Built
1963
Buildings
2
Stories
1
Listing Agency:
Mahler Realty
Listed By:
Erik C. Mahler CBR
(516) 223-3111
Source:
Elliman
Added: Sep 15
Last Checked: Sep 16 at 6:27PM
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 Mahler Realty
Investment Insights
Based on property information with market context.
This mixed-use commercial property consists of two contiguous, one-story buildings at 500–514 Merrick Rd. The improvements total approximately 13,000 square feet and support a combination of office and retail uses, providing a flexible configuration for an owner-user or commercial operator.
The property fronts the Merrick Road commercial corridor in Baldwin, with access to the Southern State Parkway and Meadowbrook Parkway approximately 2 miles away. Rockville Centre and Baldwin Long Island Rail Road stations are minutes from the site, with train service reaching Penn Station or Grand Central in 37 minutes. Walk Score is 95, Bike Score is 54, and Transit Score is 53.
The property fronts the Merrick Road commercial corridor in Baldwin, with access to the Southern State Parkway and Meadowbrook Parkway approximately 2 miles away. Rockville Centre and Baldwin Long Island Rail Road stations are minutes from the site, with train service reaching Penn Station or Grand Central in 37 minutes. Walk Score is 95, Bike Score is 54, and Transit Score is 53.
Key Highlights
- Two contiguous one‑story buildings totaling approximately 13,000 ft²
- Office and retail configuration at 500–514 Merrick Rd
- Approximately 2 miles from the Southern State and Meadowbrook Parkway
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
$179,400
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
7.80%
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%
$3,588,000
$3.6M
Cap Rate 7%
$2,562,857
$2.6M
Cap Rate 9%
$1,993,333
$2.0M
Market Conditions
NOI Build-Up for 13,000 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
$312.0K $24.00/SF
− Vacancy
−$25.0K −$1.92/SF
EGI
$287.0K $22.08/SF
− OpEx
−$107.6K −$8.28/SF
NOI
$179.4K $13.80/SF
Area
Nassau County, NY
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$3,588,000
Cap Rate 7%
$2,562,857
Cap Rate 9%
$1,993,333
Alternative Uses
Best Use
Retail
$3.68M
$3.22M – $4.29M
NOI $257,439 @ 7.0% cap · market cap 11.19%
Second Best
Office B
$3.19M
$2.79M – $3.73M
NOI $223,540 @ 7.0% cap · market cap 9.72%
Theoretical Best
Specialty Retail
$8.60M
$7.52M – $10.03M
NOI $601,673 @ 7.0% cap · market cap 26.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,436
Businesses Nearby
Explore this area
Business Placement
Demographics for 11510, NY
34,617
Population
11,463
Households
3
Avg Household Size
42
Median Age
43%
College-Educated
94%
High-School Grad
4.2 sq mi
ZIP Area
8,242
Density / Sq Mi
$141,120
Median Household Income
$62,185
Median Earnings
$1,695
Median Rent
$578,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two connected commercial buildings combine office and retail space along Merrick Road.
Where is this mixed-use property located?
The property is located at 500 - 514 Merrick Rd Baldwin, NY.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Two contiguous one‑story buildings totaling approximately 13,000 ft²; Office and retail configuration at 500–514 Merrick Rd; Approximately 2 miles from the Southern State and Meadowbrook Parkway
