Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    185 Willis Ave, Unit 1 Mineola, NY 11501

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $3,250,000

    Commercial property with income potential in a prime location.

    Lot size:
    0.29 Acres

    Property Features for 185 Willis Ave

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.29 Acres

    Building Details

    Year built
    1961

    We can help!

    Listing Contact
    Gilberto Flores
    Source: Elliman

    Listing Agent: Gilberto Flores

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

    Learn more

    Overview

    Versatile Commercial Property in Mineola

    This commercial property offers over 12,800 square feet, with approximately 4,500 square feet on the first floor, approximately 4,500 square feet on the second floor, and a 4,680-square-foot basement. Currently, the property features an adult day care center and additional office suites. It is located on a busy road with excellent visibility and accessibility. The building is partially occupied with tenants on short, flexible leases, generating $17,500 per month in current income with an additional $10,300 per month potential when fully leased. There are 27 dedicated parking spaces. The property offers versatility for professional, medical, or specialty uses.
    Location Intelligence

    Current Use by Public Records

    Alert Process Services ... Law Firm Kronin O'Leary Real ... Real Estate Agency Related Services LLC. General Contractor Mineola Medical Lab ... Medical Laboratory SentienceIT Tech Support Center

    Suggested Use

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

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

    Similar Places Nearby

    Harbor Child Care • Willis Ave. - Mineola, Learn & Play Childcare, Spanish Immersion Workshop, Little Leaves Childcare, Learn and Play Childcare

    Location Insight

    • Map
    • Local Demand
    City
    Mineola
    County
    Nassau
    State
    New York
    Longitude
    -73.639314
    Latitude
    40.745446

    Nearby Similar for Sale

    • $1,430,000
      0.04 Acres

      Established Deli and Catering Business

      Thriving deli and catering business with property in high-traffic area.
      160 Jericho Tpke, Mineola, NY 11501
      View Details
    • New
      $870,000
      0.11 Acres

      Two-Family Home in Mineola, NY

      Two-family home with four bedrooms and a two-car garage.
      151 Lincoln Ave, Mineola, NY 11501
      View Details
    • $1,690,000

      Mineola Specialty Property For Sale

      Specialty property available in Mineola, New York.
      74A Hillside Ave, Mineola, NY 11596
      View Details
    • $899,999
      Pending

      Mineola Two-Family Home

      Well-maintained two-family home near Mineola LIRR station.
      236 Jackson Ave, Mineola, NY 11501
      View Details
    • $1,150,000
      Pending

      Mineola Two-Family Investment Opportunity

      Two-family property in Mineola, near LIRR, with finished basement.
      41 Jackson Ave, Mineola, NY 11501
      View Details
    • $7,500,000
      29,136 SF

      Mineola Retail Building For Sale

      Two-story retail building with a usable basement in Mineola, NY.
      450 Jericho Tpke, Mineola, NY 11501
      View Details
    • $900,000
      1,440 SF

      High-Visibility Corner Retail Building

      Free-standing building on Jericho Turnpike with high traffic exposure.
      99 E Jericho Tpke, Mineola, NY 11501
      View Details
    • Contact for pricing
      3,500 SF

      Mineola Office Building For Sale

      Office building with basement and parking, near transportation and amenities.
      37 E Jericho Tpke, Mineola, NY 11501
      View Details
    • $385,000
      Pending

      Mineola Co-op Near LIRR

      Gated one-bedroom co-op near Mineola LIRR station.
      5 Birchwood Ct, Mineola, NY 11501
      View Details
    • $4,999,000

      24,000 SF Warehouse For Sale

      24,000 SF warehouse with loading dock and drive-in door.
      131 Liberty Ave Ave, Mineola, NY 11501
      View Details
    • Contact for pricing
      9,755 SF

      Mineola Freestanding Surgical Center

      Freestanding ambulatory surgical center in Mineola, renovated in 2002.
      110 Willis Ave, Mineola, NY 11501
      View Details
    • $3,200,000
      7,200 SF

      Mineola Retail Space - Prime Location

      High-traffic retail building, 7200 sq ft, dual occupancy.
      465 Jericho Tpke, Mineola, NY 11501
      View Details

    FAQs

    What type of property is this?
    Day care center - Commercial property with income potential in a prime location.
    Where is this day care center located?
    The property is located at 185 Willis Ave, Unit 1 Mineola, NY.
    What is the asking price?
    The asking price for this property is $3,250,000.
    What are key features of this property?
    This property features: - High Income Potential: Currently generating $17,500/month with potential to reach $27,800/month when fully leased.; - Prime Commercial Location: Situated on a busy road with excellent visibility and accessibility.; - Substantial Square Footage: Over 12,800 sq. ft. on the first floor, plus approximately 4,500 sq. ft. on the second floor and 4,680 sq. ft. in the basement.
    Request Owner's contact information
    185 Willis Ave, Unit 1 Mineola, NY 11501
    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.
    185 Willis Ave, Unit 1
    Mineola, NY 11501
    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
    185 Willis Ave, Unit 1 Mineola, NY 11501
    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
    Gilberto Flores
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!