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 Market94
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: Sep 4
Last Checked: Aug 14 at 7:27AM
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.
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 = 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
$87,133
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
5.28%
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%
$1,742,660
$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
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
$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 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%
$1,742,660
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.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
696
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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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
