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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 gated yard for sale.

    Property Features for 1215 Little East Neck Rd

    General Information

    Standard status
    Pending

    We can help!

    Listing Contact
    Richard Matt Shane
    Source: Exitrealty

    Listing Agency: All Island Estates Realty Corp Listing Agent: Richard Matt Shane

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

    Learn more

    Overview

    Auto Repair Shop with Parking

    This property features a successful 3-bay auto repair shop with two private parking lots and a large gated yard. The property benefits from great exposure, excellent signage, and strong auto repair/E business zoning. It includes a dedicated turning lane, two new oil tanks, a waiting room, and three lots. There are 58 parking spaces available. The building features high 17' ceilings, a large gated yard, 3-phase power, two skylights, an 800 sqft basement, new LED lighting, and central air conditioning. The property is located on Little East Neck Road, between the Southern State Parkway and the LIRR station. Nearby businesses include 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 per day. The property offers upside potential and could be suitable 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. Pro Forma Gross Income: $144,000 Ann. Expenses include $1,383 annually for insurance and $16,202 annually for taxes. Total expenses are $17,585 annually, resulting in a Net Operating Income (NOI) of $126,415 annually.
    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 gated yard for sale.
    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 $126,415 Net Operating Income (9.72% Cap Rate).; - Established Business: Successful 3-bay auto repair shop in operation for 39+ years.; - High Traffic Location: Situated on Little East Neck Road with a daily traffic count of 31,200 vehicles.
    (516) 783-5600
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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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    We can help!
    Listing Contact
    Richard Matt Shane
    Real Estate License ID: 10301216230
    (516) 783-5600 (516) 279-8828
    Learn more
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