Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    701 Nostrand Ave Uniondale, NY 11553

    Sponsored
    For Sale
    $895,888

    Mixed Use - Uniondale, NY

    Type:Mixed Use
    Property size:
    1,936 SF
    Lot size:
    0.50 Acres
    Days on Market:
    5
    Last Refresh:
    Feb 20 at 12:06 pm

    Property Features for 701 Nostrand Ave

    General Information

    Property type
    Other
    Property subtype
    Mixed Use
    Standard status
    Active
    Zoning
    RB
    Size
    1,936 SF
    Lot size
    0.50 Acres

    Utilities

    Heating system
    Natural Gas

    Building Details

    Year built
    1953
    Flooring type
    Hardwood
    Building materials
    Vinyl Siding
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Joseph Lombardo
    Joseph Lombardo

    Lombardo Homes & Estates (516) 200-6448

    Listing agent Joseph Lombardo (516) 200-6448

    Listing date Feb 16, 2026

    MLS# 497960 Listing URL

    Copyright © 2026 Brooklyn New York Multiple Listing Service. 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

    Uniondale Mixed-Use Corner Property

    This investment property, also known as 878 Jerusalem Ave, is a mixed-use corner property with both commercial and residential components. It includes 610 Nostrand Ave, 701 Nostrand Ave, and 878 Jerusalem Ave, encompassing a 0 acre lot with 1936 square feet of space. The property features a single-family home, currently rented for $2200 per month, with 3 bedrooms, a full bath, and a basement, and retail space. The property can be delivered vacant.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Uniondale
    County
    Nassau
    State
    New York
    Longitude
    -73.586072
    Latitude
    40.6951842

    Nearby Similar for Sale

    • $250,000
      4,226 SF

      Turnkey Pizza Restaurant Opportunity

      Fully equipped pizza restaurant for sale in high-traffic Uniondale location.
      455 Jerusalem Ave, Uniondale, NY 11553
      View Details
    • $825,000

      Uniondale Multi-Family Home For Sale

      Two-family home with income potential in Uniondale, New York.
      185 Lawrence St, Uniondale, NY 11553
      View Details
    • $68,000

      Uniondale Retail Space for Sale

      Retail space in Uniondale, ready for immediate operation.
      924 Front St, Uniondale, NY 11553
      View Details
    • $2,800,000

      Uniondale Avenue Retail Opportunity

      Four storefronts with separate utilities in Uniondale, NY.
      490-498 Uniondale Ave Ave, Uniondale, NY 11553
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - High-traffic mixed-use property with residential and retail components.
    Where is this mixed-use property located?
    The property is located at 701 Nostrand Ave Uniondale, NY.
    What is the asking price?
    The asking price for this property is $895,888.
    What are key features of this property?
    This property features: - High-traffic corner property, **ideal for mixed-use development**.; - Investment property with potential to be delivered vacant.; - Features retail space and a rented single-family home.
    (516) 200-6448
    Request Owner's contact information
    701 Nostrand Ave Uniondale, NY 11553
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    701 Nostrand Ave
    Uniondale, NY 11553
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    701 Nostrand Ave Uniondale, NY 11553
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Joseph Lombardo
    Joseph Lombardo
    (516) 200-6448 (516) 316-9974
    Learn more
    Google sign-in failed. Please try again or use another login method.