Seven-Unit Multifamily
New
For Sale
$2,100,000
92 North Rd, Hampton Bays, NY 11946
Fully occupied residential rental compound with multiple dwellings, detached garage, and R-20 zoning.
Property Size3,799 SF
Lot Size1.20 Acres
Price / SF$552.78
Days on Market3
Property Features for 92 North Rd
General Information
Standard status
Active
Size
3,799 SF
Lot size
1.20 Acres
Property subtype
Commercial
Zoning
R-20
Occupancy
100%
Additional Details
Multifamily Units
7
Taxes and HOA fees
Annual Taxes
$16,840
Building Details
Building Size
3,799 SF
Year Built
1950
Buildings
5
Units
7
Listing Agency:
Beau Hulse Realty Group, Inc
Listed By:
Anthony Lubrano
(631) 255-8700
Source:
Elliman
Added: Sep 12
Changed: Sep 13
Last Checked: Sep 14 at 9:20AM
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 Beau Hulse Realty Group, Inc
Investment Insights
Based on property information with market context.
This multifamily property in Shinnecock Hills comprises three two-family homes, an additional house, and a detached garage. The seven residential units are fully occupied, and the improvements contain approximately 3,799 square feet across a 1.2+ acre parcel. R-20 zoning applies to the property.
The site is located at 92 North Rd in Hampton Bays, near Peconic Bay beach and within the broader Hamptons area. The property is also positioned close to restaurants, boating, bay beaches, and ocean beaches. Existing residential use provides an established configuration, while potential family-compound use and future subdivision may be evaluated subject to applicable approvals.
The site is located at 92 North Rd in Hampton Bays, near Peconic Bay beach and within the broader Hamptons area. The property is also positioned close to restaurants, boating, bay beaches, and ocean beaches. Existing residential use provides an established configuration, while potential family-compound use and future subdivision may be evaluated subject to applicable approvals.
Key Highlights
- Seven residential units across three two‑family homes and one additional house
- Approximately 3,799 sq. ft. of building area on a 1.2+ acre parcel
- Fully occupied rental property
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
$67,518
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
3.22%
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%
$1,350,360
$1.4M
Cap Rate 7%
$964,543
$964.5K
Cap Rate 9%
$750,200
$750.2K
Market Conditions
NOI Build-Up for 3,799 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
$131.3K $34.56/SF
− Vacancy
−$8.5K −$2.25/SF
EGI
$122.8K $32.31/SF
− OpEx
−$55.2K −$14.54/SF
NOI
$67.5K $17.77/SF
Area
Suffolk County, NY
Vacancy
6.50%
Lease Rate
$34.56 /SF/Yr
Expense Ratio
45.00%
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%
$1,350,360
Cap Rate 7%
$964,543
Cap Rate 9%
$750,200
Alternative Uses
Best Use
Apartment 5plus
$964.5K
$844.0K – $1.13M
NOI $67,518 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $81,015 @ 7.0% cap · market cap 3.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
7
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Explore this area
Business Placement
Demographics for 11946, NY
15,535
Population
9,098
Households
1.7
Avg Household Size
42
Median Age
43%
College-Educated
87%
High-School Grad
13.5 sq mi
ZIP Area
1,151
Density / Sq Mi
$128,844
Median Household Income
$53,259
Median Earnings
$2,288
Median Rent
$691,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Fully occupied residential rental compound with multiple dwellings, detached garage, and R-20 zoning.
Where is this multifamily property located?
The property is located at 92 North Rd Hampton Bays, NY.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Seven residential units across three two‑family homes and one additional house; Approximately 3,799 sq. ft. of building area on a 1.2+ acre parcel; Fully occupied rental property
