Babylon Village Mixed-Use
For Sale
$999,999
504 Fire Island Ave, Babylon, NY 11702
Income-generating mixed-use property in Babylon Village with commercial and residential units.
Property Size5,801 SF
Lot Size0.23 Acres
Days on Market265
Property Features for 504 Fire Island Ave
General Information
Standard status
Active
Size
5,801 SF
Lot size
0.23 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$18,568
Building Details
Building Size
5,801 SF
Units
4
Listing Agency:
THE AGENCY NORTHSHORE NY
(631) 848-6515
Listed By:
Nicholas Campasano
(631) 848-6515
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:48AM
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 THE AGENCY NORTHSHORE NY
Investment Insights
Based on property information with market context.
This mixed-use property is located in Babylon Village and features two commercial spaces on the first level, both leased through mid 2028. There are also two residential apartments above the commercial spaces. The first-floor apartment includes 2 bedrooms, while the second-floor apartment features 3 bedrooms. Additional income potential exists with two detached garages and 100 feet of rentable bulkhead. Tenants and the deli benefit from private off-street parking. The property is located in one of Long Island's downtowns. The taxes for the Town of Babylon are $16,649.85 and for Babylon Village are $1,918.35.
Key Highlights
- Prime Babylon Village location.
- Two income‑producing commercial spaces leased through mid 2028.
- Two residential apartments (2‑bedroom and 3‑bedroom) for additional income.
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
$87,293
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
8.73%
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%
$1,745,860
$1.7M
Cap Rate 7%
$1,247,043
$1.2M
Cap Rate 9%
$969,922
$969.9K
Market Conditions
NOI Build-Up for 5,801 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
$167.1K $28.80/SF
− Vacancy
−$8.4K −$1.44/SF
EGI
$158.7K $27.36/SF
− OpEx
−$71.4K −$12.31/SF
NOI
$87.3K $15.05/SF
Area
Babylon, NY
Vacancy
5.00%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,745,860
Cap Rate 7%
$1,247,043
Cap Rate 9%
$969,922
Alternative Uses
Best Use
Retail
$1.86M
$1.63M – $2.17M
NOI $130,300 @ 7.0% cap · market cap 13.03%
Second Best
Mixed Use
$1.49M
$1.30M – $1.73M
NOI $104,070 @ 7.0% cap · market cap 10.41%
Theoretical Best
Office A
$3.08M
$2.69M – $3.59M
NOI $215,519 @ 7.0% cap · market cap 21.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
111
Businesses Nearby
Explore this area
Business Placement
Demographics for 11702, NY
14,580
Population
5,939
Households
2.5
Avg Household Size
43
Median Age
53%
College-Educated
97%
High-School Grad
11.5 sq mi
ZIP Area
1,268
Density / Sq Mi
$136,711
Median Household Income
$66,898
Median Earnings
$2,369
Median Rent
$598,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Income-generating mixed-use property in Babylon Village with commercial and residential units.
Where is this mixed-use property located?
The property is located at 504 Fire Island Ave Babylon, NY.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Prime Babylon Village location.; Two income‑producing commercial spaces leased through mid 2028.; Two residential apartments (2‑bedroom and 3‑bedroom) for additional income.
