Bay Shore Mixed-Use
For Sale
$1,400,000
70 Park Avenue, Bayshore, NY 11706
Three structures on one lot in Bay Shore's Business District.
Property Size2,600 SF
Price / SF$538.46
Days on Market222
Property Features for 70 Park Avenue
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Commercial
Zoning
BD
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 · License #10301206471
(516) 729-7851
Source:
Cohenandcohenrealty
Added: Jan 14
Changed: Aug 23
Last Checked: Aug 23 at 6:23AM
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.
Located in the heart of Bay Shore's Business District, this property features three structures on a single deeded lot. The building at 70 Park Ave is a 2,600 sq ft commercial building with a Certificate of Occupancy allowing the first floor apartment to be used as a personal service business and residence, and the second floor as a separate apartment. The current owner utilizes both floors as a one-family residence with a personal service business. Updates include a renovated kitchen, three full bathrooms, and a roof replacement approximately six years ago. The building features a natural gas hookup for cooking, an oil heating system, and exterior cellar access to a full unfinished basement. It is connected to sewers and public water and has commercial dumpster service for rubbish removal. There are three electrical meters: two residential panels for the first and second floors and one commercial panel servicing the basement and garage. Parking is available for 5 to 7 vehicles. Additionally, there is a 400 sq ft detached two-car garage and an 1,100 sq ft building at 1636 and 1636A Union Blvd, certified as a legal two-family dwelling with a studio and a one-bedroom apartment. These units are separately metered for electric, with the studio using electric heat and the one-bedroom having its own gas heating system. Both units are currently vacant. This property offers an opportunity to reposition multiple units, resolve outstanding violations, and capitalize on rental demand for studio, one-bedroom, and two-bedroom apartments. The location has a walk score of 43, indicating car-dependent surroundings, and a bike score of 46, indicating it is somewhat bikeable.
Key Highlights
- Three structures on one deeded lot in Bay Shore's Business District.
- 2,600 sq ft commercial building (70 Park Ave) with flexible usage**: Personal Service business/residence and separate apartment potential.
- Additional 1,100 sq ft building (1636 & 1636A Union Blvd) CO'd as a legal two‑family dwelling (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
—
—
no second resolved use
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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three structures on one lot in Bay Shore's Business District.
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 sq ft commercial building (70 Park Ave) with flexible usage**: Personal Service business/residence and separate apartment potential.; Additional 1,100 sq ft building (1636 & 1636A Union Blvd) CO'd as a legal two‑family dwelling (studio and one‑bedroom apartment).
