Mixed-Use Building with
New
For Sale
Contact for pricing
60 MAIN ST, Port Washington, NY 11050
Apartments are arranged above street-level retail space in a transit-adjacent property.
Property Size13,902 SF
Price / SF$323.69
Days on Market5
Property Features for 60 MAIN ST
General Information
Standard status
Active
Size
13,902 SF
Class
C
Property subtype
Retail, Multifamily, Mixed Use
Occupancy
100%
Lease Type
Gross
Investment Type
Stabilized
Additional Details
Public Transit
Yes
Building Details
Year Built
1924
Buildings
1
Stories
4
Units
13
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Manhattan
(212) 430-5196
Listed By:
Michael Tuccillo · License #NY 10401244358
Source:
Crexi
Added: Aug 12
Changed: Aug 15
Last Checked: Aug 15 at 7:01AM
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 Marcus & Millichap - Manhattan
Investment Insights
Based on property information with market context.
Built in 1924, this mixed-use property contains 13,902 square feet arranged with apartments above retail space. The configuration combines residential units and commercial space within one building, supporting both income-producing components.
Located at 60 Main St in Port Washington, the property is adjacent to the LIRR station, providing a direct connection to rail transportation.
Located at 60 Main St in Port Washington, the property is adjacent to the LIRR station, providing a direct connection to rail transportation.
Key Highlights
- 13,902‑square‑foot mixed‑use property
- Apartments located above retail space
- Adjacent to the LIRR station
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
$275,301
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
6.12%
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%
$5,506,020
$5.5M
Cap Rate 7%
$3,932,871
$3.9M
Cap Rate 9%
$3,058,900
$3.1M
Market Conditions
NOI Build-Up for 13,902 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
$417.1K $30.00/SF
− Vacancy
−$23.8K −$1.71/SF
EGI
$393.3K $28.29/SF
− OpEx
−$118.0K −$8.49/SF
NOI
$275.3K $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%
$5,506,020
Cap Rate 7%
$3,932,871
Cap Rate 9%
$3,058,900
Alternative Uses
Best Use
Retail
$3.93M
$3.44M – $4.59M
NOI $275,301 @ 7.0% cap · market cap 6.12%
Second Best
Apartment 5plus
$3.54M
$3.10M – $4.13M
NOI $247,977 @ 7.0% cap · market cap 5.51%
Theoretical Best
Specialty Retail
$9.19M
$8.04M – $10.72M
NOI $643,419 @ 7.0% cap · market cap 14.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,489
Businesses Nearby
Explore this area
Business Placement
Demographics for 11050, NY
31,512
Population
12,329
Households
2.6
Avg Household Size
44
Median Age
67%
College-Educated
96%
High-School Grad
10.1 sq mi
ZIP Area
3,120
Density / Sq Mi
$153,819
Median Household Income
$78,132
Median Earnings
$2,454
Median Rent
$990,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Apartments are arranged above street-level retail space in a transit-adjacent property.
Where is this mixed-use property located?
The property is located at 60 MAIN ST Port Washington, 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: 13,902‑square‑foot mixed‑use property; Apartments located above retail space; Adjacent to the LIRR station
