Renovated Mixed-Use Apartment
New
For Sale
Contact for pricing
80-84 E Park Ave, Long Beach, NY 11561
Ten apartments sit above retail space in a renovated mixed-use property.
Property Size9,000 SF
Price / SF$694.44
Days on Market2
Property Features for 80-84 E Park Ave
General Information
Standard status
Active
Size
9,000 SF
Property subtype
RETAIL
Site & Location
Corner Location
Yes
Public Transit
Yes
Additional Details
Multifamily Units
10
Listing Agency:
RIPCO Real Estate - Long Island
(516) 933-8880
Listed By:
Jon Winzelberg
Source:
Moodyscre
Added: Oct 20
Changed: Oct 21
Last Checked: Oct 21 at 1:59AM
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 RIPCO Real Estate - Long Island
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 9,000-square-foot mixed-use property combines 10 newly renovated apartments with retail space below. The residential units are arranged above the commercial component, bringing both uses together in one building.
The property occupies a signalized corner, one block from the Long Island Rail Road station and directly across from Stop & Shop.
The property occupies a signalized corner, one block from the Long Island Rail Road station and directly across from Stop & Shop.
Key Highlights
- 10 newly renovated apartments above retail space
- 9,000 square feet of mixed‑use space
- Corner location with a traffic signal
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$178,227
Cap Rate
2.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,564,540
$3.6M
Cap Rate 7%
$2,546,100
$2.5M
Cap Rate 9%
$1,980,300
$2.0M
Market Conditions
NOI Build-Up for 9,000 SF
Gross rent
$270.0K $30.00/SF
− Vacancy
−$15.4K −$1.71/SF
EGI
$254.6K $28.29/SF
− OpEx
−$76.4K −$8.49/SF
NOI
$178.2K $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 Rate 5%
$3,564,540
Cap Rate 7%
$2,546,100
Cap Rate 9%
$1,980,300
Alternative Uses
Best Use
Retail
$2.55M
$2.23M – $2.97M
NOI $178,227 @ 7.0% cap · market cap 2.85%
Second Best
Apartment 5plus
$2.29M
$2.01M – $2.68M
NOI $160,537 @ 7.0% cap · market cap 2.57%
Theoretical Best
Specialty Retail
$5.95M
$5.21M – $6.94M
NOI $416,543 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
1,503
Businesses Nearby
Explore this area
Business Placement
Demographics for 11561, NY
39,132
Population
18,442
Households
2.1
Avg Household Size
45
Median Age
53%
College-Educated
96%
High-School Grad
4.0 sq mi
ZIP Area
9,783
Density / Sq Mi
$132,903
Median Household Income
$72,221
Median Earnings
$2,462
Median Rent
$676,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Ten apartments sit above retail space in a renovated mixed-use property.
Where is this mixed-use property located?
The property is located at 80-84 E Park Ave Long Beach, NY.
What is the asking price?
The asking price for this property is $6,250,000.
What are key features of this property?
This property features: 10 newly renovated apartments above retail space; 9,000 square feet of mixed‑use space; Corner location with a traffic signal
