Mixed-Use Property with
For Sale
$4,500,000
6-8 Chadwick Street, Glen Cove, NY 11542
Five structures combine commercial space, residential units, secured yard area, and separate utility metering.
Property Size8,884 SF
Lot Size0.69 Acres
Price / SF$506.53
Days on Market53
Property Features for 6-8 Chadwick Street
General Information
Standard status
Active
Size
8,884 SF
Lot size
0.69 Acres
Property subtype
Mixed Use
Site & Location
Road Access
Yes
Public Transit
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA, 4 x 1BR/1BA
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$59,491
Building Details
Building Size
8,884 SF
Year Built
1913
Buildings
5
Listing Agency:
NY Space Finders Inc
Listed By:
Nicholas Evangelista · License #10401378306
(516) 385-7725
Source:
Luxuryhomeny
Added: Aug 14
Changed: Sep 19
Last Checked: Oct 4 at 2:37PM
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 NY Space Finders Inc
Investment Insights
Based on property information with market context.
This mixed-use property comprises five structures across approximately 0.69 acres, combining three two-family homes, a commercial warehouse, and a detached two-car garage. The residential component contains six units: two 2-bedroom, 1-bathroom apartments and four 1-bedroom, 1-bathroom apartments. Each home includes a full basement, while gas and electric service are separately metered for every unit.
Commercial access is supported by a newly paved driveway with two curb cuts and a rolling gate leading to the fully fenced lot. The property is positioned just off Glen Cove Avenue, with access to North Shore communities and LIRR stations in Sea Cliff, Glen Head, and Glen Cove. The combination of warehouse space, secured commercial yard area, and residential occupancy creates a diversified mixed-use configuration.
Commercial access is supported by a newly paved driveway with two curb cuts and a rolling gate leading to the fully fenced lot. The property is positioned just off Glen Cove Avenue, with access to North Shore communities and LIRR stations in Sea Cliff, Glen Head, and Glen Cove. The combination of warehouse space, secured commercial yard area, and residential occupancy creates a diversified mixed-use configuration.
Key Highlights
- Approximately 0.69 acres with five structures
- Six residential units: two 2‑bedroom and four 1‑bedroom apartments
- Three two‑family homes plus a commercial warehouse
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
$169,251
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
3.76%
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%
$3,385,020
$3.4M
Cap Rate 7%
$2,417,871
$2.4M
Cap Rate 9%
$1,880,567
$1.9M
Market Conditions
NOI Build-Up for 8,884 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
$255.9K $28.80/SF
− Vacancy
−$14.1K −$1.58/SF
EGI
$241.8K $27.22/SF
− OpEx
−$72.5K −$8.16/SF
NOI
$169.3K $19.05/SF
Area
Nassau County, NY
Vacancy
5.50%
Lease Rate
$28.80 /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%
$3,385,020
Cap Rate 7%
$2,417,871
Cap Rate 9%
$1,880,567
Alternative Uses
Best Use
Multifamily LT 5
$2.42M
$2.12M – $2.82M
NOI $169,251 @ 7.0% cap · market cap 3.76%
Second Best
Apartment 5plus
$2.26M
$1.98M – $2.64M
NOI $158,468 @ 7.0% cap · market cap 3.52%
Theoretical Best
Specialty Retail
$5.87M
$5.14M – $6.85M
NOI $411,174 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Yes
Fenced yard
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
671
Businesses Nearby
Explore this area
Business Placement
Demographics for 11542, NY
29,171
Population
11,374
Households
2.6
Avg Household Size
43
Median Age
41%
College-Educated
86%
High-School Grad
6.7 sq mi
ZIP Area
4,354
Density / Sq Mi
$92,284
Median Household Income
$52,855
Median Earnings
$2,350
Median Rent
$659,300
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Five structures combine commercial space, residential units, secured yard area, and separate utility metering.
Where is this mixed-use property located?
The property is located at 6-8 Chadwick Street Glen Cove, NY.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Approximately 0.69 acres with five structures; Six residential units: two 2‑bedroom and four 1‑bedroom apartments; Three two‑family homes plus a commercial warehouse
