Spacious Freeport Co-Op with
For Sale
$215,000
Pending
55 S Bergin Pl 3F, Freeport, NY 11520
Move-in ready Freeport co-op near transportation and amenities.
Property Size900 SF
Days on Market266
Property Features for 55 S Bergin Pl 3F
General Information
Standard status
Pending
Size
900 SF
Property subtype
Residential
Building Details
Building Size
900 SF
Year Built
1962
Listing Agency:
(516) 644-7492
Listed By:
Janette Mendoza
(516) 644-7492
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 13
Last Checked: Aug 20 at 8:40AM
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 Janette Mendoza
Investment Insights
Based on property information with market context.
This spacious co-op is located in Freeport, near shops, parkways, schools, and the bus and train station, and minutes from Jones Beach and the Nautical Mile. The unit features spacious rooms, including one bedroom with two closets, and a full bathroom with a tub. An entrance foyer includes a closet and curved wall. The large living room and dining area provide access to a balcony. The kitchen is equipped with stainless steel appliances, including a refrigerator, dishwasher, microwave, and stove. Upgraded lighting includes three ceiling fans and light fixtures throughout the unit. Hardwood floors, A/C wall units, and recently painted and conditioned walls make the unit move-in ready. The unit also offers a laundry room on the same floor, an elevator, and two parking lot spaces. Heat, gas, and water are included in the $1005 maintenance fee. The interior features an efficiency kitchen. The overall appearance of the property is excellent.
Key Highlights
- Move‑in ready condition with recently painted walls, hardwood floors, and upgraded lighting.
- Includes heat, gas, and water in the $1005 maintenance fee.
- Convenient location near shops, parkways, schools, bus, and train station, and minutes from Jones Beach and Nautical Mile.
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
$16,054
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
7.47%
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%
$321,080
$321.1K
Cap Rate 7%
$229,343
$229.3K
Cap Rate 9%
$178,378
$178.4K
Market Conditions
NOI Build-Up for 900 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
$30.6K $33.96/SF
− Vacancy
−$1.4K −$1.53/SF
EGI
$29.2K $32.43/SF
− OpEx
−$13.1K −$14.59/SF
NOI
$16.1K $17.84/SF
Area
Nassau County, NY
Vacancy
4.50%
Lease Rate
$33.96 /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%
$321,080
Cap Rate 7%
$229,343
Cap Rate 9%
$178,378
Alternative Uses
Best Use
Apartment 5plus
$229.3K
$200.7K – $267.6K
NOI $16,054 @ 7.0% cap · market cap 7.47%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$595.1K
$520.7K – $694.2K
NOI $41,654 @ 7.0% cap · market cap 19.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,457
Businesses Nearby
Explore this area
Business Placement
Demographics for 11520, NY
45,121
Population
14,912
Households
3
Avg Household Size
39
Median Age
27%
College-Educated
86%
High-School Grad
5.1 sq mi
ZIP Area
8,847
Density / Sq Mi
$119,407
Median Household Income
$47,475
Median Earnings
$1,984
Median Rent
$480,600
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?
Apartment building - Move-in ready Freeport co-op near transportation and amenities.
Where is this apartment building located?
The property is located at 55 S Bergin Pl 3F Freeport, NY.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Move‑in ready condition with recently painted walls, hardwood floors, and upgraded lighting.; Includes heat, gas, and water in the $1005 maintenance fee.; Convenient location near shops, parkways, schools, bus, and train station, and minutes from Jones Beach and Nautical Mile.
