Vacant Gas Station With Convenience
For Sale
Contact for pricing
566 Fulton Street, Farmingdale, NY 11735
Freestanding corner-site facility with multiple access points and Residence B zoning.
Property Size1,800 SF
Lot Size0.17 Acres
Price / SF$1,027
Days on Market54
Property Features for 566 Fulton Street
General Information
Standard status
Active
Size
1,800 SF
Lot size
0.17 Acres
Property subtype
Retail
Zoning
Residence B
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Fuel Pumps
8
Building Details
Year Built
1959
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Horvath & Tremblay
Listed By:
Matthew Nadler · License #MA 134870
Source:
Crexi
Added: Jul 29
Changed: Sep 13
Last Checked: Sep 20 at 8:49AM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
This freestanding 1,800-square-foot property combines a convenience store building with 8 fueling stations on a 0.17-acre corner parcel. The site includes 100 feet of frontage along Fulton Street and was previously occupied by Mobil. Built in 1959, the property is currently vacant and zoned Residence B, which permits single-family and two-family dwellings along with certain office and residential uses on specified streets, including Fulton Street.
The property sits at the intersection of Fulton Street, also designated NY-109, and Walter Place in Farmingdale. Access is provided from multiple points, and the location is less than a mile from the Farmingdale Long Island Railroad station. The surrounding area includes residential neighborhoods, retail businesses, and light industrial facilities, with Stop & Shop, CVS, and Walmart among the nearby retailers.
The property sits at the intersection of Fulton Street, also designated NY-109, and Walter Place in Farmingdale. Access is provided from multiple points, and the location is less than a mile from the Farmingdale Long Island Railroad station. The surrounding area includes residential neighborhoods, retail businesses, and light industrial facilities, with Stop & Shop, CVS, and Walmart among the nearby retailers.
Key Highlights
- 1,800‑square‑foot freestanding building with convenience store layout
- 8 fueling stations on a 0.17‑acre corner lot
- 100 feet of frontage along Fulton Street
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
$83,309
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
4.50%
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%
$1,666,180
$1.7M
Cap Rate 7%
$1,190,129
$1.2M
Cap Rate 9%
$925,656
$925.7K
Market Conditions
NOI Build-Up for 1,800 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
$118.8K $66.00/SF
− Vacancy
−$7.7K −$4.29/SF
EGI
$111.1K $61.71/SF
− OpEx
−$27.8K −$15.43/SF
NOI
$83.3K $46.28/SF
Area
Nassau County, NY
Vacancy
6.50%
Lease Rate
$66.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,666,180
Cap Rate 7%
$1,190,129
Cap Rate 9%
$925,656
Alternative Uses
Best Use
Specialty Retail
$1.19M
$1.04M – $1.39M
NOI $83,309 @ 7.0% cap · market cap 4.50%
Second Best
Retail
$509.2K
$445.6K – $594.1K
NOI $35,645 @ 7.0% cap · market cap 1.93%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,232
Businesses Nearby
122k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 42%
Groceries 29%
Shops & Services 29%
Stop & Shop
Groceries
35,739 visits/mo
0.2 miles
McDonald's
Dining
24,223 visits/mo
0.1 miles
Starbucks
Dining
18,226 visits/mo
0.5 miles
Shell
Shops & Services
14,325 visits/mo
0.3 miles
Dunkin' Donuts
Dining
9,332 visits/mo
0.1 miles
Demographics for 11735, NY
32,989
Population
11,435
Households
2.9
Avg Household Size
42
Median Age
45%
College-Educated
92%
High-School Grad
10.7 sq mi
ZIP Area
3,083
Density / Sq Mi
$146,190
Median Household Income
$64,273
Median Earnings
$2,285
Median Rent
$572,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Gas station - Freestanding corner-site facility with multiple access points and Residence B zoning.
Where is this gas station located?
The property is located at 566 Fulton Street Farmingdale, 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: 1,800‑square‑foot freestanding building with convenience store layout; 8 fueling stations on a 0.17‑acre corner lot; 100 feet of frontage along Fulton Street
