Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    7 Harbour Ln, Unit 5B Oyster Bay, NY 11771

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $289,000

    One-bedroom co-op near Oyster Bay's vibrant downtown area.

    Building Details

    Year built
    1972

    We can help!

    Listing Contact
    Donna M. Scala Cbr
    Source: Elliman

    Listing Agent: Donna M. Scala Cbr

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Oyster Bay Cooperative Apartment

    Located at 7 Harbour Lane, Unit 5B in Oyster Bay, this second-floor cooperative apartment features one bedroom and one bathroom within approximately 850 square feet. Constructed in 1972, the unit is part of the Top of the Harbour complex. The layout includes a living and dining area, a separate eat-in kitchen, and a bedroom with closet space. A balcony provides an outdoor area. On-site laundry facilities are available. Monthly maintenance covers taxes, gas, water, parking, snow removal, and landscaping. The property is near Oyster Bay's downtown area, offering access to shops, restaurants, beaches, parks, and the Long Island Rail Road.
    Location Intelligence

    Current Use by Public Records

    Richard Kornblau, AIA Architect

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Oyster Bay
    County
    Nassau
    State
    New York
    Longitude
    -73.4619871
    Latitude
    40.6629895

    Nearby Similar for Sale

    • $919,000
      Pending

      Oyster Bay Colonial Duplex

      Two-family colonial in Oyster Bay, oversized lot, convenient location.
      75 Anstice St, Oyster Bay, NY 11771
      View Details
    • $1,300,000
      2,230 SF

      Oyster Bay Mixed-Use Property

      Renovated mixed-use property with restaurant and apartment in Oyster Bay.
      22 Pine Hollow Rd, Oyster Bay, NY 11771
      View Details
    • $420,000

      Stylish Corner Unit in Oyster Bay

      Bright corner unit with modern updates in a vibrant location.
      200 Lexington Ave, Oyster Bay, NY 11771
      View Details
    • $489,000

      Ground Level End Unit Apartment

      Two-bedroom ground level apartment with terrace and winter water views.
      11 Harbour Ln, Oyster Bay, NY 11771
      View Details
    • $978,000

      Oyster Bay Specialty Property

      Specialty property available for sale in Oyster Bay, NY.
      22 School St, Oyster Bay, NY 11771
      View Details

    FAQs

    What type of property is this?
    Apartment building - One-bedroom co-op near Oyster Bay's vibrant downtown area.
    Where is this apartment building located?
    The property is located at 7 Harbour Ln, Unit 5B Oyster Bay, NY.
    What is the asking price?
    The asking price for this property is $289,000.
    What are key features of this property?
    This property features: - Convenient location near Oyster Bay's downtown, shops, restaurants, beaches, parks, and the LIRR.; - Monthly maintenance covers taxes, gas, water, parking, snow removal, and landscaping.; - Spacious 1-bedroom unit with approximately 850 square feet of living space.
    (516) 816-7783
    Request Owner's contact information
    7 Harbour Ln, Unit 5B Oyster Bay, NY 11771
    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.
    7 Harbour Ln, Unit 5B
    Oyster Bay, NY 11771
    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
    7 Harbour Ln, Unit 5B Oyster Bay, NY 11771
    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
    Donna M. Scala Cbr
    (516) 816-7783
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.