Mixed-Use Income
For Sale
$1,499,000
5651-5661 MERRICK RD, Massapequa, NY 11758
Four-unit property includes an auto repair shop, outdoor storage lot, two residential units, and office/retail space.
Property Size6,000 SF
Price / SF$249.83
Days on Market173
Property Features for 5651-5661 MERRICK RD
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Retail
Site & Location
Road Access
Yes
Outdoor Storage
Yes
Units
Multifamily Units
2
Office Units
1
Additional Details
Service Bays
4
Taxes and HOA fees
Annual Taxes
$41,615
Amenities
3
Parking. Cul-De-Sac. Corner Lot.
Garage, Open Parking, Driveway, Heated Garage, Private, Off Street, On Street, Alley Entrance, Lot.
Level, Irregular
Cul-De-Sac, Corner, Irregular, Clear lot, Level.
Building Details
Tenancy
Multi
Listing Agency:
Above Board Real Estate Inc
(631) 264-7700
Listed By:
Rosemarie Bozza · License #10311210390
(631) 365-7444
Source:
Xome
Added: Mar 17
Changed: Sep 1
Last Checked: Sep 5 at 5:09AM
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 Above Board Real Estate Inc
Investment Insights
Based on property information with market context.
This income-producing property includes four distinct components: an established auto repair shop; a commercial lot with outdoor storage space; a residential home comprising two units with a fully finished basement; and professional office/retail space. The auto repair operation is supported by a brand-new recycled oil heating system and is equipped with two 10-foot overhead doors and four drive-on alignment lifts, along with a New York State inspection license.
The property is situated on Merrick Rd and described as being in a high-traffic area. Rear access provides convenience via a dead-end side street, supporting both customer access and deliveries.
Current and projected monthly income is reported as $900 for the office component, $1,200 for a one-bedroom apartment, $1,300 for a two-bedroom apartment, and $12,000 projected for the auto repair shop.
The property is situated on Merrick Rd and described as being in a high-traffic area. Rear access provides convenience via a dead-end side street, supporting both customer access and deliveries.
Current and projected monthly income is reported as $900 for the office component, $1,200 for a one-bedroom apartment, $1,300 for a two-bedroom apartment, and $12,000 projected for the auto repair shop.
Key Highlights
- Four‑unit income property with an auto repair shop, outdoor storage lot, 2 residential apartments, and office/retail space
- Residential income: 1‑bedroom apartment leased at $1,200/month and 2‑bedroom apartment renting for $1,300/month
- Office/retail space currently generating $900/month in rent
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
$118,818
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
7.93%
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%
$2,376,360
$2.4M
Cap Rate 7%
$1,697,400
$1.7M
Cap Rate 9%
$1,320,200
$1.3M
Market Conditions
NOI Build-Up for 6,000 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
$180.0K $30.00/SF
− Vacancy
−$10.3K −$1.71/SF
EGI
$169.7K $28.29/SF
− OpEx
−$50.9K −$8.49/SF
NOI
$118.8K $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%
$2,376,360
Cap Rate 7%
$1,697,400
Cap Rate 9%
$1,320,200
Alternative Uses
Best Use
Retail
$1.70M
$1.49M – $1.98M
NOI $118,818 @ 7.0% cap · market cap 7.93%
Second Best
Multifamily LT 5
$1.63M
$1.43M – $1.91M
NOI $114,307 @ 7.0% cap · market cap 7.63%
Theoretical Best
Specialty Retail
$3.97M
$3.47M – $4.63M
NOI $277,695 @ 7.0% cap · market cap 18.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Service bays
1
Office units
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
696
Businesses Nearby
Well-served
Demand for This Use
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 Office in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- MCM Mobile Mechanic Marine Mechanic — 299 S Ketcham Ave, Amityville, NY 11701
- Mr. Rim Repair Corp. — 66 Roosevelt Blvd, Massapequa, NY 11758
- Coffey Bruce — 206 S Ketcham Ave, Amityville, NY 11701
- Nassau Shores Auto Repair — 5200 Merrick Rd, Massapequa, NY 11758
- Aldo & Sons Foreign Cars — 5651-5661 Merrick Rd, Massapequa, NY 11758
Frequently Asked Questions
What type of property is this?
Auto shop - Four-unit property includes an auto repair shop, outdoor storage lot, two residential units, and office/retail space.
Where is this auto shop located?
The property is located at 5651-5661 MERRICK RD Massapequa, NY.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Four‑unit income property with an auto repair shop, outdoor storage lot, 2 residential apartments, and office/retail space; Residential income: 1‑bedroom apartment leased at $1,200/month and 2‑bedroom apartment renting for $1,300/month; Office/retail space currently generating $900/month in rent
