Contemporary Residential Income
For Sale
$1,850,000
550 E Harrison Street, Long Beach, NY 11561
Central air and forced-air heating serve the residence, which also includes a garage and fenced backyard.
Property Size3,000 SF
Days on Market8
Property Features for 550 E Harrison Street
General Information
Standard status
Active
Size
3,000 SF
Total Parking Spaces
7
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$17,000
Amenities
Central Air
Forced Air
Breakfast Bar, Built-in Features, Ceiling Fan(s), Crown Molding, Eat-in Kitchen, His and Hers Closets, Kitchen Island, Open Floorplan, Recessed Lighting, Smart Thermostat, Walk-In Closet(s)
Fenced, Back Yard, Vinyl
Carport, Driveway, Garage, Garage Door Opener, Tandem
Contemporary
Building Details
Building Size
3,000 SF
Year Built
2026
Listed By:
Karla Grasso CBR
(516) 972-9525
Source:
Evrealestate
Added: Sep 28
Changed: Sep 30
Last Checked: Oct 4 at 9:03AM
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 Karla Grasso CBR
Investment Insights
Based on property information with market context.
This contemporary residential income property at 550 E Harrison Street in Long Beach, NY, was built in 2026. Interior features include central air, forced-air heating, an eat-in kitchen with an island and breakfast bar, an open floor plan, and walk-in closets. Crown molding, recessed lighting, ceiling fans, built-in features, and a smart thermostat are also present.
Exterior features include a fenced backyard, vinyl siding, a driveway, carport, and tandem garage parking. The property is in Nassau County.
Exterior features include a fenced backyard, vinyl siding, a driveway, carport, and tandem garage parking. The property is in Nassau County.
Key Highlights
- Built in 2026
- Central air and forced‑air heating
- Eat‑in kitchen with island and breakfast bar
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
$53,512
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
2.89%
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%
$1,070,240
$1.1M
Cap Rate 7%
$764,457
$764.5K
Cap Rate 9%
$594,578
$594.6K
Market Conditions
NOI Build-Up for 3,000 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
$101.9K $33.96/SF
− Vacancy
−$4.6K −$1.53/SF
EGI
$97.3K $32.43/SF
− OpEx
−$43.8K −$14.59/SF
NOI
$53.5K $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%
$1,070,240
Cap Rate 7%
$764,457
Cap Rate 9%
$594,578
Alternative Uses
Best Use
Apartment 5plus
$764.5K
$668.9K – $891.9K
NOI $53,512 @ 7.0% cap · market cap 2.89%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.98M
$1.74M – $2.31M
NOI $138,848 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,005
Businesses Nearby
Explore this area
Business Placement
Demographics for 11561, NY
39,132
Population
18,442
Households
2.1
Avg Household Size
45
Median Age
53%
College-Educated
96%
High-School Grad
4.0 sq mi
ZIP Area
9,783
Density / Sq Mi
$132,903
Median Household Income
$72,221
Median Earnings
$2,462
Median Rent
$676,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Central air and forced-air heating serve the residence, which also includes a garage and fenced backyard.
Where is this residential income property located?
The property is located at 550 E Harrison Street Long Beach, NY.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Built in 2026; Central air and forced‑air heating; Eat‑in kitchen with island and breakfast bar
