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    1215 Little East Neck Rd Wyandanch, NY 11798

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    Pending
    $1,300,000

    Successful auto repair shop with parking and large gated yard.

    Lot size:
    0.70 Acres

    Property Features for 1215 Little East Neck Rd

    General Information

    Property type
    Industrial
    Standard status
    Pending
    Lot size
    0.70 Acres

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    Listing Contact
    Neixa Capdevila
    Source: Elliman

    Listing Agent: Neixa Capdevila

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

    Learn more

    Overview

    Auto Repair Shop with Yard

    This property, suited for investors, developers, or end-users, features a successful 3-bay auto repair shop with two private parking lots and a large gated yard. The property benefits from high exposure, excellent signage, and strong auto repair/E business zoning. It includes a dedicated turning lane, two new oil tanks, a waiting room, and two strategically placed curb cuts. There are 58 parking spaces available. The building features high 17-foot ceilings, a large gated yard, 3-phase power, two skylights, an 800 sqft basement, new LED lighting, and CAC. Located on Little East Neck Road between the Southern State Parkway and the LIRR station, the property is near Starbucks, U-Haul, Extra Space Storage, 7-Eleven, Dunkin', Valero, Shell, CVS, Penske Truck Rental, Educational Bus Company, Taco Joe's, Burger King, Carvel, and Domino's. The repair shop has been in business for over 39 years. The property experiences a daily traffic count of 31,200 vehicles. The property offers upside potential as a development site, investment property, or business location. The 3-bay repair shop with parking lot generates $84,000 annually, and the rear yard with office generates $60,000 annually, resulting in a pro forma gross income of $144,000 annually. Expenses include $1,383 annually for insurance and $16,202 annually for taxes, totaling $17,585 annually. The net operating income (NOI) is $126,415 annually, with a pro forma 9.72% cap.
    Location Intelligence

    Current Use by Public Records

    Titan Automobile Repair ... Auto Repair Shop Tha Shop Hair Salon

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Pharmacy Skin Care Clinic

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

    Similar Places Nearby

    Royalty Auto Repair Inc., TLI Auto Inc Junk Cars For Cash, TLI Auto Inc, Dependable Dave Auto Center, Bob's Auto Sport

    Location Insight

    • Map
    • Local Demand
    City
    Wyandanch
    County
    Suffolk
    State
    New York
    Longitude
    -73.370109
    Latitude
    40.73706

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    FAQs

    What type of property is this?
    Auto shop - Successful auto repair shop with parking and large gated yard.
    Where is this auto shop located?
    The property is located at 1215 Little East Neck Rd Wyandanch, NY.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: - High income potential: Pro Forma Gross Income of $144,000 Ann. and Net Operating Income (NOI) of $126,415 Ann. (Pro Forma 9.72% Cap); - Successful 3-bay auto repair shop in business for 39+ years with existing income of $84,000 Ann.; - Prime location on busy Little East Neck Road with high traffic count (31,200 vehicles per day) and excellent exposure.
    (908) 964-5005
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    Wyandanch, NY 11798
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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
    1215 Little East Neck Rd Wyandanch, NY 11798
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    Listing Contact
    Neixa Capdevila
    (908) 964-5005
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