Mixed-Use Property with
For Sale
$1,400,000
70 Park Avenue, Bayshore, NY 11706
Three structures offer commercial, residential, garage, and multifamily components on one deeded lot.
Property Size2,600 SF
Days on Market228
Property Features for 70 Park Avenue
General Information
Standard status
Active
Size
2,600 SF
Total Parking Spaces
7
Property subtype
Commercial
Zoning
BD
Additional Details
Utilities to Site
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$21,135
Building Details
Building Size
2,600 SF
Year Built
1925
Buildings
2
Stories
2
Units
4
Listing Agency:
Signature Premier Properties
(516) 729-7851
Listed By:
Dorothy E. Ziccardi
(516) 729-7851
Source:
Mahlerrealty
Added: Jan 14
Changed: Aug 29
Last Checked: Aug 25 at 9:22AM
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 Signature Premier Properties
Investment Insights
Based on property information with market context.
This mixed-use offering includes three structures on a single deeded lot in Bay Shore’s Business District. The 2,600-square-foot building at 70 Park Avenue has a current CO permitting the first floor apartment for a Personal Service business and residence, with a separate second-floor apartment. The building includes three full bathrooms, an updated kitchen, a roof replaced approximately six years ago, natural gas for cooking, oil heat, exterior cellar access, and a full unfinished basement. Parking accommodates 5 to 7 vehicles.
A detached 400-square-foot two-car garage is also included. At 1636 and 1636A Union Boulevard, the 1,100-square-foot building is CO'd as a legal two-family dwelling with a studio and one-bedroom apartment; both units are currently vacant. The property has public water, sewer connections, commercial dumpster service, and three electrical meters. Zoning is BD, and the property was built in 1925.
A detached 400-square-foot two-car garage is also included. At 1636 and 1636A Union Boulevard, the 1,100-square-foot building is CO'd as a legal two-family dwelling with a studio and one-bedroom apartment; both units are currently vacant. The property has public water, sewer connections, commercial dumpster service, and three electrical meters. Zoning is BD, and the property was built in 1925.
Key Highlights
- Three structures on one deeded lot in Bay Shore’s Business District
- 2,600‑square‑foot commercial building with current CO for Personal Service business, residence, and separate apartment
- 1,100‑square‑foot legal two‑family dwelling with studio and one‑bedroom apartment
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
$46,285
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
3.31%
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%
$925,700
$925.7K
Cap Rate 7%
$661,214
$661.2K
Cap Rate 9%
$514,278
$514.3K
Market Conditions
NOI Build-Up for 2,600 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
$80.5K $30.96/SF
− Vacancy
−$6.4K −$2.48/SF
EGI
$74.1K $28.48/SF
− OpEx
−$27.8K −$10.68/SF
NOI
$46.3K $17.80/SF
Area
Suffolk County, NY
Vacancy
8.00%
Lease Rate
$30.96 /SF/Yr
Expense Ratio
37.50%
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%
$925,700
Cap Rate 7%
$661,214
Cap Rate 9%
$514,278
Alternative Uses
Best Use
Mixed Use
$661.2K
$578.6K – $771.4K
NOI $46,285 @ 7.0% cap · market cap 3.31%
Second Best
Apartment 5plus
$660.1K
$577.6K – $770.1K
NOI $46,208 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$792.1K
$693.1K – $924.1K
NOI $55,446 @ 7.0% cap · market cap 3.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,423
Businesses Nearby
Explore this area
Business Placement
Demographics for 11706, NY
66,263
Population
21,435
Households
3.1
Avg Household Size
37
Median Age
26%
College-Educated
82%
High-School Grad
16.9 sq mi
ZIP Area
3,921
Density / Sq Mi
$115,112
Median Household Income
$44,917
Median Earnings
$1,885
Median Rent
$464,300
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 - Three structures offer commercial, residential, garage, and multifamily components on one deeded lot.
Where is this mixed-use property located?
The property is located at 70 Park Avenue Bayshore, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Three structures on one deeded lot in Bay Shore’s Business District; 2,600‑square‑foot commercial building with current CO for Personal Service business, residence, and separate apartment; 1,100‑square‑foot legal two‑family dwelling with studio and one‑bedroom apartment
