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    Island Park Restaurant Building For Sale Title is generated by Realmo AI

    4259 Austin Blvd, Island Park, NY 11558

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    For Sale
    $799,000

    Free-standing restaurant on a 6,000 sqft lot with parking.

    Property size:
    1,220 SF
    Lot size:
    0.14 Acres
    Price / SF:
    $654/SF
    Added:
    Sep 4, 2025
    Days on Market:
    271
    Last Refresh:
    May 27 at 12:33 am

    Property Features for 4259 Austin Blvd

    General Information

    Standard status
    Active
    Size
    1,220 SF
    Lot size
    0.14 Acres

    We can help!

    Listing Contact
    Richard Matt Shane

    Listing agent Richard Matt Shane License #10301216230

    Listing office All Island Estates Realty Corp

    Listing date Sep 4, 2025

    Source Exprealty

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

    All listing content including descriptions, pricing, images are the copyrighted material of All Island Estates Realty Corp

    HighLights

    • High‑traffic location on Austin Blvd. with 40,200+ vehicles per day
    • Free‑standing 1,220 sqft restaurant building on a 6,000 sqft lot
    • Restaurant zoning allows for various business opportunities
    • Existing deli tenant provides $72,000 annual income with lease expiring 8/18/35 + 5 year option
    • Private parking lot with 13 spaces
    • Excellent signage and 60' of frontage on Austin Blvd.

    Overview

    This 1,220 sqft free-standing restaurant building is situated on a 6,000 sqft lot in Island Park. The property features signage, high 14-foot ceilings, and a private parking lot with 13 spaces. It is zoned for restaurant use (421.14) and includes 3-phase power, new LED lighting, and central air conditioning. The property has 60 feet of frontage on Austin Blvd, which experiences a daily traffic count of over 40,200 vehicles. Located on Austin Blvd in the heart of Island Park, the property is near the Long Beach Bridge and neighbors various businesses including Costco, Stop & Shop, Public Storage, Costello’s Ace Hardware, King Kullen, Dunkin’, Wendy’s, McDonald’s, and Trader Joe’s. The property is currently leased to a deli with an annual income of $72,000 and a 3% annual increase, with the lease expiring on 8/18/35 and a 5-year option. The annual expenses include $2,300 for insurance, $250 for maintenance and repairs, and $13,354.87 in taxes, resulting in a net operating income (NOI) of $56,095.13 annually.

    Local Financial Insights For Specialty Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $80.5k $66.00
    − Vacancy −$5.2k −$4.29
    EGI $75.3k $61.71
    − OpEx −$18.8k −$15.43
    NOI $56.5k $46.28
    1,220 SF · lease $66.00/SF/yr · vacancy 6.50% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $806.6K
    $705.8K – $941.1K (±1% cap)
    NOI $56,465 @ 7.0% cap · market cap 7.07%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    —
    —
    same as Best Use
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    EVOO Deli Food Market

    Suggested Use

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

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

    Similar Places Nearby

    • Paul Evans Catering — 46B Saratoga Blvd, Island Park, NY 11558

    Location Insight

    • Map
    • Local Demand
    City
    Island Park
    County
    Nassau
    State
    New York
    Longitude
    -73.64932
    Latitude
    40.605644

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    FAQs

    What type of property is this?
    Restaurant - Free-standing restaurant on a 6,000 sqft lot with parking.
    Where is this restaurant located?
    The property is located at 4259 Austin Blvd Island Park, NY.
    What is the asking price?
    The asking price for this property is $799,000.
    What are key features of this property?
    This property features: High‑traffic location on Austin Blvd. with 40,200+ vehicles per day; Free‑standing 1,220 sqft restaurant building on a 6,000 sqft lot; Restaurant zoning allows for various business opportunities
    (516) 279-8828
    We can help!
    Listing Contact
    Richard Matt Shane
    Real Estate License ID: 10301216230
    Learn More
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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
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