Mixed-Use Corner
For Sale
$999,000
Pending
848 Main Street, Farmingdale, NY 11735
Commercial Sale, Farmingdale, NY
Property Size1,944 SF
Lot Size0.24 Acres
Days on Market385
Property Features for 848 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
20
Standard status
Pending
APN
2489-48-268-00-0001-0
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
22147
Utilities
Sewer type
Public Sewer
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
walk up window
split heating/AC units
LED lighting
updated 400 amp electric
2 updated half baths
3 offices
loading dock
security system with 21 cameras
Building Details
Year built
1956
Floors in Building
1
Listing Agency:
Signature Premier Properties
(631) 842-8400
Listed By:
Lisa M. Strollo · License #10301210910
(631) 842-8400
Added: Aug 12, 2025
Changed: Aug 31
Last Checked: Aug 31 at 12:06PM
MLS# 900441
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding mixed-use building offers 1,944 square feet of commercial space on a 0.241-acre lot. The property includes a storefront on Main Street, a loading dock on Frank Avenue, three offices, two updated half baths, and an additional 640-square-foot garage-like structure with electric service for storage. The layout can be divided into two separate business areas.
Building improvements include a walk-up window, split heating and air-conditioning units, LED lighting, updated 400-amp electric, and a security system with 21 cameras. Twenty private parking spaces serve the property. Public water and public sewer are in place, and the building was constructed in 1956.
Building improvements include a walk-up window, split heating and air-conditioning units, LED lighting, updated 400-amp electric, and a security system with 21 cameras. Twenty private parking spaces serve the property. Public water and public sewer are in place, and the building was constructed in 1956.
Key Highlights
- 1,944‑square‑foot freestanding mixed‑use building on a 0.241‑acre lot
- Storefront on Main Street with loading dock access from Frank Avenue
- Additional 640‑square‑foot garage‑like structure with electric service
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
$38,497
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
3.85%
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%
$769,940
$769.9K
Cap Rate 7%
$549,957
$550.0K
Cap Rate 9%
$427,744
$427.7K
Market Conditions
NOI Build-Up for 1,944 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
$58.3K $30.00/SF
− Vacancy
−$3.3K −$1.71/SF
EGI
$55.0K $28.29/SF
− OpEx
−$16.5K −$8.49/SF
NOI
$38.5K $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%
$769,940
Cap Rate 7%
$549,957
Cap Rate 9%
$427,744
Alternative Uses
Best Use
Retail
$550.0K
$481.2K – $641.6K
NOI $38,497 @ 7.0% cap · market cap 3.85%
Second Best
Office B
$477.5K
$417.9K – $557.1K
NOI $33,428 @ 7.0% cap · market cap 3.35%
Theoretical Best
Specialty Retail
$1.29M
$1.12M – $1.50M
NOI $89,973 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
836
Businesses Nearby
Explore this area
Business Placement
Demographics for 11735, NY
32,989
Population
11,435
Households
2.9
Avg Household Size
42
Median Age
45%
College-Educated
92%
High-School Grad
10.7 sq mi
ZIP Area
3,083
Density / Sq Mi
$146,190
Median Household Income
$64,273
Median Earnings
$2,285
Median Rent
$572,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Freestanding commercial property with storefront access, loading capability, offices, private parking, and flexible business configuration.
Where is this mixed-use property located?
The property is located at 848 Main Street Farmingdale, NY.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 1,944‑square‑foot freestanding mixed‑use building on a 0.241‑acre lot; Storefront on Main Street with loading dock access from Frank Avenue; Additional 640‑square‑foot garage‑like structure with electric service
