Retail Space in Prime
For Sale
Contact for pricing
Pending
249 Old Country Rd, Carle Place, NY 11514
High-visibility retail space with significant traffic and parking.
Property Size2,786 SF
Days on Market801
Property Features for 249 Old Country Rd
General Information
Standard status
Pending
Size
2,786 SF
Total Parking Spaces
4
Property subtype
Retail
Zoning
Retail
Investment Type
Owner/User
Building Details
Year Built
1954
Buildings
1
Stories
1
Units
1
Listing Agency:
Douglas Elliman Commercial Division
(631) 858-2408
Listed By:
Ben Indiviglia · License #NY 10401224061
Source:
Crexi
Added: Jun 12, 2024
Changed: Aug 16
Last Checked: Aug 20 at 12:00PM
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 Douglas Elliman Commercial Division
Investment Insights
Based on property information with market context.
This 2786 square foot retail space is situated in a prime retail district with high traffic volume, approximately 36,000 vehicles passing per day. The location is positioned at the signaled intersection for the Meadowbrook Parkway exit to Old Country Road, a thoroughfare to Roosevelt Field Mall. The property offers parking for several cars behind the building. The property is suitable for a showroom, billboard, or high-end retail business. It could also be used for boutique retail. The annual taxes are $33,228.85.
Key Highlights
- High traffic location with 36,000 vehicles passing per day.
- Located at the signaled intersection for Meadowbrook Parkway Exit to Old Country Road.
- Proximity to Roosevelt Field Mall.
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
$55,171
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
6.49%
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%
$1,103,420
$1.1M
Cap Rate 7%
$788,157
$788.2K
Cap Rate 9%
$613,011
$613.0K
Market Conditions
NOI Build-Up for 2,786 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
$83.6K $30.00/SF
− Vacancy
−$4.8K −$1.71/SF
EGI
$78.8K $28.29/SF
− OpEx
−$23.6K −$8.49/SF
NOI
$55.2K $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 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%
$1,103,420
Cap Rate 7%
$788,157
Cap Rate 9%
$613,011
Alternative Uses
Best Use
Retail
$788.2K
$689.6K – $919.5K
NOI $55,171 @ 7.0% cap · market cap 6.49%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.84M
$1.61M – $2.15M
NOI $128,943 @ 7.0% cap · market cap 15.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,008
Businesses Nearby
1.9M
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 23%
Apparel 22%
Groceries 18%
Dining 15%
Target
Superstores
240,974 visits/mo
0.5 miles
Walmart
Superstores
210,496 visits/mo
0.5 miles
Bloomingdale's
Apparel
136,301 visits/mo
0.4 miles
Total Wine & More
Groceries
131,665 visits/mo
0.5 miles
Nordstrom
Apparel
107,712 visits/mo
0.5 miles
Demographics for 11514, NY
4,635
Population
1,758
Households
2.6
Avg Household Size
43
Median Age
50%
College-Educated
93%
High-School Grad
0.9 sq mi
ZIP Area
5,150
Density / Sq Mi
$136,125
Median Household Income
$77,358
Median Earnings
$2,302
Median Rent
$713,700
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Showroom - High-visibility retail space with significant traffic and parking.
Where is this showroom located?
The property is located at 249 Old Country Rd Carle Place, NY.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: High traffic location with 36,000 vehicles passing per day.; Located at the signaled intersection for Meadowbrook Parkway Exit to Old Country Road.; Proximity to Roosevelt Field Mall.
