Fully Leased Retail Strip
For Sale
$1,650,000
Pending
5640-18 Merrick Rd 4, Massapequa, NY 11758
Stable, income-producing retail strip mall with strong Merrick Rd visibility and 17 parking spaces.
Property Size4,400 SF
Days on Market146
Property Features for 5640-18 Merrick Rd 4
General Information
Standard status
Pending
Size
4,400 SF
Total Parking Spaces
17
Property subtype
Commercial
Occupancy
100%
Additional Details
Cap Rate
6%
Taxes and HOA fees
Annual Taxes
$45,440
Building Details
Building Size
4,400 SF
Year Built
1966
Stories
1
Units
4
Tenancy
Multi
Listing Agency:
Realty Plus Vision Group Inc.
Listed By:
Unsoo Lee
(516) 984-1762
Source:
Elliman
Added: Jun 3
Changed: Oct 26
Last Checked: Oct 26 at 4:27PM
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 Realty Plus Vision Group Inc.
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Investment Insights
Based on property information with market context.
This for-sale retail strip mall is fully leased and arranged to serve multiple neighborhood uses. Current tenants include a nail spa, smoke shop, pharmacy, and storage. The property is supported by long lease terms, with tenant leases noted through 2033–2038, contributing to a steady operating profile. Reported financials include a 6% cap rate with approximately $150,000 in gross income and about $100,000 in NOI. The offering is described as cash-only, and includes a 1031-exchange angle for qualified buyers.
The center is positioned for high traffic with strong visibility on Merrick Rd. Parking is provided in front and back, with a total of 17 spaces serving the storefront and customer needs. The mix of tenants and continued lease coverage is intended to support ongoing day-to-day operations.
For buyers seeking a retail asset with established occupancy and long-term tenant continuity, this strip mall offers a practical fit. The current tenancy and reported lease durations through the next several years can help anchor operations, while the seller’s stated value-add potential centers on renewal opportunities. With multiple uses already in place, it may be suitable for investors, 1031 buyers, or operators looking for a manageable, diversified retail configuration.
The center is positioned for high traffic with strong visibility on Merrick Rd. Parking is provided in front and back, with a total of 17 spaces serving the storefront and customer needs. The mix of tenants and continued lease coverage is intended to support ongoing day-to-day operations.
For buyers seeking a retail asset with established occupancy and long-term tenant continuity, this strip mall offers a practical fit. The current tenancy and reported lease durations through the next several years can help anchor operations, while the seller’s stated value-add potential centers on renewal opportunities. With multiple uses already in place, it may be suitable for investors, 1031 buyers, or operators looking for a manageable, diversified retail configuration.
Key Highlights
- Retail strip mall built in 1966, fully leased with stable tenant income
- Cap 6% reported; gross income $150K and NOI $100K
- Long‑term tenants including Nail Spa, Smoke Shop, Pharmacy, and Storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,133
Cap Rate
5.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,742,660
$1.7M
Cap Rate 7%
$1,244,757
$1.2M
Cap Rate 9%
$968,144
$968.1K
Market Conditions
NOI Build-Up for 4,400 SF
Gross rent
$132.0K $30.00/SF
− Vacancy
−$7.5K −$1.71/SF
EGI
$124.5K $28.29/SF
− OpEx
−$37.3K −$8.49/SF
NOI
$87.1K $19.80/SF
Area
Nassau County, NY
Vacancy
5.70%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,742,660
Cap Rate 7%
$1,244,757
Cap Rate 9%
$968,144
Alternative Uses
Best Use
Specialty Retail
$2.91M
$2.55M – $3.39M
NOI $203,643 @ 7.0% cap · market cap 12.34%
Second Best
Retail
$1.24M
$1.09M – $1.45M
NOI $87,133 @ 7.0% cap · market cap 5.28%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
696
Businesses Nearby
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Business Placement
Demographics for 11758, NY
54,226
Population
19,297
Households
2.8
Avg Household Size
44
Median Age
50%
College-Educated
97%
High-School Grad
12.0 sq mi
ZIP Area
4,519
Density / Sq Mi
$157,404
Median Household Income
$72,947
Median Earnings
$2,153
Median Rent
$624,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Strip mall - Stable, income-producing retail strip mall with strong Merrick Rd visibility and 17 parking spaces.
Where is this strip mall located?
The property is located at 5640-18 Merrick Rd 4 Massapequa, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Retail strip mall built in 1966, fully leased with stable tenant income; Cap 6% reported; gross income $150K and NOI $100K; Long‑term tenants including Nail Spa, Smoke Shop, Pharmacy, and Storage
