| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Fair |
| Demographics | 47th | Poor |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 180 Guy Lombardo Ave, Freeport, NY, 11520, US |
| Region / Metro | Freeport |
| Year of Construction | 1974 |
| Units | 22 |
| Transaction Date | 2004-11-22 |
| Transaction Price | $2,535,000 |
| Buyer | 180 GUY LOMBARDO AVE LLC |
| Seller | BELLMORE LLC |
180 Guy Lombardo Ave Freeport Multifamily Opportunity
Neighborhood occupancy is strong and renter demand appears durable, according to WDSuite’s CRE market data, positioning this 22-unit asset for steady operations with measured upside.
Freeport’s urban-core setting offers daily conveniences and commuter connectivity that support leasing. Grocery access is a relative strength (high density locally) and restaurants are abundant compared with most neighborhoods nationwide, while parks, pharmacies, and cafes are thinner on the ground. For investors, this mix points to everyday-service convenience with some lifestyle amenity gaps that may favor on-site upgrades and community programming.
Neighborhood occupancy trends are competitive among the 608 Nassau County–Suffolk County neighborhoods, and the area sits in the top quartile nationally for occupied housing — a tailwind for renewal stability and lease-up predictability. About half of housing units are renter-occupied, indicating a sizable tenant base without overreliance on any single cohort.
The property’s 1974 vintage is newer than the neighborhood’s older housing stock profile. Investors should plan for mid-1970s building systems and finishes that can benefit from targeted capital projects, with value-add potential through modernization and operational efficiencies.
Within a 3-mile radius, population and household counts have been growing and are projected to continue rising, expanding the renter pool. Household incomes are comparatively strong, and neighborhood home values are elevated in context, which can reinforce sustained reliance on multifamily housing and support pricing power. These signals, based on WDSuite’s multifamily property research, suggest demand depth with manageable retention risk if lease management remains disciplined.
Neighborhood-level crime benchmarking is not available from WDSuite for this location. Investors typically compare local trends to Nassau County and regional Long Island patterns, review recent year-over-year movement, and incorporate property-level measures (lighting, access control) into underwriting rather than drawing block-level conclusions.
Proximity to major Long Island and NYC employment nodes supports commuter demand and lease retention. Notable nearby employers include financial services, healthcare distribution, and airlines corporate offices and headquarters listed below.
- Fernando Monasterio - Citizens Bank, Home Mortgages — financial services offices (11.8 miles)
- Henry Schein — healthcare distribution (11.9 miles) — HQ
- Prudential — financial services (14.1 miles)
- Jetblue Airways — airline corporate (19.9 miles) — HQ
- Pfizer — pharmaceuticals (21.5 miles) — HQ
180 Guy Lombardo Ave combines a mid-1970s, 22‑unit scale with neighborhood fundamentals that favor occupancy stability. The area shows strong occupied housing levels and a meaningful renter-occupied share, while a dense mix of everyday services — especially grocery and dining — supports day-to-day livability. Elevated ownership costs in the neighborhood context and rising household counts within a 3‑mile radius point to a deeper tenant base and steady leasing, according to CRE market data from WDSuite.
The 1974 vintage suggests clear value-add scope in common areas, unit interiors, and building systems. With comparatively strong local incomes and a favorable rent-to-income backdrop, thoughtful renovations and disciplined lease management can translate into measured revenue growth, while recognizing that amenity gaps and an owner-heavy broader radius may temper top-of-market positioning.
- Competitive neighborhood occupancy supports renewal stability and lease-up predictability.
- 1974 vintage offers value-add potential via modernization and efficiency upgrades.
- Strong grocery and restaurant density enhances livability and tenant retention.
- Rising population and households within 3 miles expand the renter pool over the medium term.
- Risks: limited parks/cafes locally and an owner-heavy wider radius can cap premium positioning; small asset size concentrates operational variance.