Finding an investment property that combines commercial income with residential space can give you multiple revenue channels in one strategically positioned asset. Located at 777 West Merrick Rd, Valley Stream, NY, this mixed-use property features two storefronts and a three-bedroom apartment, creating an appealing opportunity for investors seeking current income and long-term flexibility.
The property is offered at an asking price of $929,000 and generates approximately $6,500 per month in rental income, or about $78,000 annually before operating expenses. If you are looking to expand your portfolio in Long Island, this property deserves a closer look.
A Three-Part Income Structure Creates Built-In Diversification
The primary advantage of 777 West Merrick Rd is its configuration. Instead of relying on one tenant or one use, the property includes:
- Two commercial storefronts at street level
- One three-bedroom residential apartment
- Separate income streams from retail and residential tenants
- High-visibility positioning along West Merrick Road
- A combination of current cash flow and future leasing flexibility
This structure can help distribute risk. If one space becomes vacant in the future, the remaining units may continue generating income. The property also gives you the ability to evaluate each component independently, including tenant quality, lease terms, operating expenses, and future rent potential.
For investors who want more than a single-family rental, this type of mixed-use property offers a practical way to enter or strengthen the commercial real estate market while retaining a residential component.
Two Storefronts Benefit from Strong Street Visibility
The two storefronts benefit from their location on a busy commercial roadway. Visibility is an important consideration for many retail and service-based businesses because convenient exposure can support customer awareness and tenant retention.
Depending on permitted uses and leasing strategy, storefront space may appeal to a variety of operators, including:
- Personal care and barber services
- Professional offices
- Local service businesses
- Specialty retail
- Health and wellness providers
- Neighborhood-oriented businesses
The existing commercial setup provides an established foundation for income generation. As with any investment property, you should review the current leases, renewal options, security deposits, rent history, and tenant responsibilities before making a purchase decision.
You should also confirm permitted uses, certificates of occupancy, building compliance, and any local requirements that may affect future leasing or renovations. A thorough review helps you understand not only the current income, but also the property’s long-term potential.
The Three-Bedroom Apartment Adds Residential Appeal
The residential portion includes a spacious three-bedroom apartment above the storefronts. A larger apartment can be especially attractive in Valley Stream, where renters may be looking for additional space for family members, a home office, or flexible living arrangements.
Reported features include:
- Three bedrooms
- Parquet flooring
- A formal dining room
- A bonus room with substantial closet space
- A finished attic with additional usable space
- A well-maintained residential layout
The apartment adds a valuable second category of demand to the property. While the storefronts serve business tenants, the apartment appeals to households seeking a substantial residence in a convenient Long Island location.
The combination may also appeal to an owner-occupant. Depending on applicable regulations and the buyer’s objectives, you could potentially live in the apartment while collecting income from the commercial spaces. Investors should consult with qualified legal, tax, and financial professionals regarding occupancy, financing, and tax considerations.
Approximately $6,500 in Monthly Income Supports the Investment Case
At the stated rental income of approximately $6,500 per month, the property produces an estimated $78,000 in gross annual income.
Compared with the asking price of $929,000, that represents an indicative gross rental yield of approximately 8.4% before property taxes, insurance, maintenance, utilities, vacancy, management, financing, and other expenses. This is not the same as a net operating income or capitalization rate, so you should evaluate the full financial picture before proceeding.
Important documents to request and review include:
- Current leases for all three units
- Rent payment history and tenant ledgers
- Annual property tax information
- Insurance costs and coverage details
- Utility and maintenance responsibilities
- Recent repair and renovation records
- Certificates of occupancy and zoning documentation
- Any outstanding violations or municipal notices
- Existing operating statements
- Potential renewal and rent adjustment terms
These documents can help you determine the property’s actual net income and identify opportunities to improve performance over time.
Location on West Merrick Road Supports Commercial Demand
A mixed-use property is only as strong as its location and tenant demand. West Merrick Road provides a visible commercial setting within Valley Stream, making the property suitable for businesses that depend on local traffic and convenient access.
Valley Stream offers a suburban Long Island environment with established neighborhoods, commuter access, schools, shopping, and a broad range of residential and commercial services. This blend of convenience and community can support demand from both local businesses and residential tenants.
For an investor, location can provide additional flexibility. You are not purchasing only a building; you are acquiring a property positioned to serve two connected markets:
- Businesses looking for visible storefront space
- Residents seeking a larger apartment near local amenities
Before purchasing, you should evaluate nearby businesses, competing properties, parking and access, traffic patterns, and the overall condition of the surrounding commercial corridor.
A Practical Opportunity for Portfolio Growth
This property may be a strong fit for several types of buyers:
First-time commercial investors
If you want to move beyond a single residential rental, the two-storefront-plus-apartment structure offers exposure to both commercial and residential income.
Experienced landlords
Investors with existing management systems may appreciate the opportunity to add multiple leases and expand their Long Island holdings.
Owner-occupants
A buyer may be able to occupy the apartment while benefiting from income produced by the storefronts, subject to legal, financing, and occupancy requirements.
1031 exchange buyers
Depending on your circumstances and professional advice, a mixed-use property may be considered as part of a qualified investment strategy. You should speak with your tax advisor and qualified intermediary before relying on any 1031 exchange treatment.
The best investment approach will depend on your financing, time horizon, desired level of involvement, and income objectives. A property tour can help you assess the layout and condition, while a financial review can help you determine whether the numbers align with your goals.
Work with a Local Team That Understands Queens and Long Island
Buying a mixed-use property requires more than reviewing a listing price. You need local insight, careful analysis, and an experienced professional who can help you move from initial interest to informed decision-making.
NY Empire Real Estate has served buyers, sellers, landlords, and investors since 1995. Our team brings more than 30 years of real estate experience across Queens and Long Island, including a deep understanding of local neighborhoods, property values, rental demand, and transaction details.
Our approach is 100% client-first. Your interests come before commissions, and our referral-based business has been built by treating every client with care, transparency, and personal attention. Whether you are purchasing your first investment property or expanding an established portfolio, we can help you evaluate the opportunity with a practical, focused strategy.
Explore our latest real estate insights or visit NY Empire Real Estate to learn more about our services.
Schedule a Private Tour of 777 West Merrick Rd
A property with two storefronts, a three-bedroom apartment, and approximately $6,500 in monthly rental income can offer a compelling combination of income and flexibility. At an asking price of $929,000, 777 West Merrick Rd presents an opportunity for buyers who want to build long-term value through a diversified mixed-use asset.
Contact NY Empire Real Estate to arrange a private tour and discuss the property in greater detail. We can help you review the opportunity, understand the local market, and identify the next steps toward a successful purchase.
Summary
777 West Merrick Rd offers a rare combination of two commercial storefronts and a spacious three-bedroom apartment in Valley Stream. With approximately $6,500 in monthly rental income, high-visibility positioning, and multiple potential investment strategies, the property is well suited for buyers seeking current income and portfolio growth.
Schedule your tour today and speak with NY Empire Real Estate about making this mixed-use investment part of your next real estate strategy.