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    The Largest CRE Database in the US with Over 1 Million Listings

    1695 Merrick Ave, Unit 1695 Merrick, NY 11566

    Sponsored
    For Lease
    $4,200 /Mo

    COMMERCIAL - Merrick, NY

    Type:Office
    Days on Market:
    2
    Last Refresh:
    Jan 24 at 1:06 pm

    Property Features for 1695 Merrick Ave

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Standard status
    Active
    Parking
    25

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Heating system
    Oil, Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Floors in Building
    1
    Number of units
    1
    Flooring type
    Laminate
    Building materials
    Brick

    We can help!

    Listing Contact
    Ameet Sikka

    National real estate (516) 778-7771

    Listing agent Ameet Sikka (516) 519-4363

    Listing date Jan 23, 2026

    MLS# 874651

    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.

    Learn more

    Property Insight Report

    Overview

    Renovated Office Space, Merrick, NY

    This newly renovated, first-floor professional office space is situated in a charming brick building in the heart of North Merrick. The spacious unit includes an inviting foyer, a large waiting area, and a spacious reception area. It also features 4 private office rooms, a kitchenette, 2 bathrooms, and 2 storage closets. The space is suitable for a variety of professional or medical uses. Located in a high-traffic area on Merrick Avenue, the building is conveniently adjacent to Starbucks, 7-Eleven, Taquitos Grill, a nail salon, hairdressers, a spa, and other retail and dining options. The building also houses a dentist office, two medical offices, and additional professional tenants, creating an environment for wellness or business professionals. Minutes from the Southern State Parkway and Sunrise Highway, the office offers accessibility and visibility. The space is currently vacant and available for immediate occupancy.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Counseling For You Walk-In Mental Health Service Lewis Medical Office: ... Cardiologist Louisa Fennell Nurse Practitioner Lewis Medical Office Cardiologist

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Merrick
    County
    Nassau
    State
    New York
    Longitude
    -73.557347
    Latitude
    40.677054

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    FAQs

    What type of property is this?
    Office space - Newly renovated professional office space in prime Merrick Avenue location.
    Where is this office space located?
    The property is located at 1695 Merrick Ave, Unit 1695 Merrick, NY.
    What are key features of this property?
    This property features: - Prime high-traffic location on Merrick Avenue with excellent accessibility and visibility.; - Newly renovated, first-floor professional office space suitable for various professional or medical uses.; - Conveniently located adjacent to Starbucks, 7-Eleven, restaurants, and other retail options.
    (516) 519-4363
    Request Owner's contact information
    1695 Merrick Ave, Unit 1695 Merrick, NY 11566
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    Merrick, NY 11566
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1695 Merrick Ave, Unit 1695 Merrick, NY 11566
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    We can help!
    Listing Contact
    Ameet Sikka
    (516) 519-4363
    Learn more
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