Mixed-Use Building in Downtown Glen
For Sale
$778,000
Pending
63 1/2 Glen St, Glen Cove, NY 11542
Mixed-use building with commercial unit and two residential apartments.
Property Size2,527 SF
Days on Market267
Property Features for 63 1/2 Glen St
General Information
Standard status
Pending
Size
2,527 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$15,000
Building Details
Building Size
2,527 SF
Year Built
1929
Stories
1
Units
3
Listing Agency:
E REALTY INTERNATIONAL CORP
(917) 582-9990
Listed By:
Lisa Lei · License #10401285008
(917) 582-9990
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 12
Last Checked: Aug 21 at 7:53AM
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 E REALTY INTERNATIONAL CORP
Investment Insights
Based on property information with market context.
This mixed-use building presents an investment opportunity, featuring one commercial unit and two residential apartments. The property is situated in the busiest area of downtown Glen Cove. Currently, the building is fully rented on a month-to-month basis, without existing leases. The property can be delivered vacant.
Key Highlights
- Prime downtown Glen Cove location in the busiest area
- Mixed‑use building with commercial and residential units
- Excellent investment opportunity
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
$50,042
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
6.43%
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%
$1,000,840
$1.0M
Cap Rate 7%
$714,886
$714.9K
Cap Rate 9%
$556,022
$556.0K
Market Conditions
NOI Build-Up for 2,527 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
$75.8K $30.00/SF
− Vacancy
−$4.3K −$1.71/SF
EGI
$71.5K $28.29/SF
− OpEx
−$21.4K −$8.49/SF
NOI
$50.0K $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%
$1,000,840
Cap Rate 7%
$714,886
Cap Rate 9%
$556,022
Alternative Uses
Best Use
Retail
$714.9K
$625.5K – $834.0K
NOI $50,042 @ 7.0% cap · market cap 6.43%
Second Best
Multifamily LT 5
$687.7K
$601.8K – $802.4K
NOI $48,142 @ 7.0% cap · market cap 6.19%
Theoretical Best
Specialty Retail
$1.67M
$1.46M – $1.95M
NOI $116,956 @ 7.0% cap · market cap 15.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,805
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 Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with commercial unit and two residential apartments.
Where is this mixed-use property located?
The property is located at 63 1/2 Glen St Glen Cove, NY.
What is the asking price?
The asking price for this property is $778,000.
What are key features of this property?
This property features: Prime downtown Glen Cove location in the busiest area; Mixed‑use building with commercial and residential units; Excellent investment opportunity
