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    Property profile & analytics

    980 Washington St Franklin Square, NY 11010-2933

    • Auto shops
    • 2,550 SF
    • 0.22 lot acres
    OFF-MARKET
    Last Sale
    Dec 06, 2021
    $900,000
    Value Estimations
    $1,025,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-6149082
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • L P Sweeney Associates Inc / Auto Repair Shop
    • Everything Auto / Auto Repair Shop / Auto Parts Store

    Property Details for 980 Washington St

    Year built
    1970
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.22 lot acres
    Property size
    2,550 SF
    Property type
    Auto shops
    APN
    33-604-00-0010
    APU
    33604000010

    Description

    This exceptional 2,550 square foot auto repair facility, situated on a spacious 10,160 square foot lot in Franklin Square, NY (980 Washington St, 11010), presents a unique investment opportunity. The property is offered for sale at $3,499,000 and features a completely upgraded interior and exterior. The building is a single-story structure with commercial zoning, allowing for a variety of uses beyond auto repair. Potential uses include a used car dealership, transportation business, or even an EV charging station. The current lease is a Triple Net (NNN) lease at $10,500 per month. Ample parking is available on the property. The sale includes all recent renovations and improvements, detailed in an attached list. This property offers an excellent opportunity for a hands-off investment or an owner-operator seeking a turnkey operation. The sale price per square foot is $1,372.16. Sale/leaseback options are also available. This prime location in Nassau County offers significant potential for growth and profitability. The property is being offered for sale by owner.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,010,000
      ML approach
      $900,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,211,000
      Market price range: $822k - $2.87M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Franklin Square
    County
    Nassau
    State
    New York
    Longitude
    -73.6764
    Latitude
    40.7119
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $23,564
    $2,489
    $1,125
    $3,614
    -
    $0.00
    $0.00
    $361,400

    Comparable in this City

    • Value Estimation by Request
      2,530 SF

      735 Hempstead Tpke

      AUTO REPAIR, GARAGE • 2,530 SF
      735 Hempstead Tpke, Franklin Square, NY 11010-4330
      View Details
    • Value Estimation
      $125,000
      900 SF

      195 New Hyde Park Rd

      AUTO REPAIR, GARAGE • 900 SF
      195 New Hyde Park Rd, Franklin Square, NY 11010-3045
      View Details
    • Value Estimation
      $235,000
      6,665 SF

      275 Franklin Ave

      AUTO REPAIR, GARAGE • 6,665 SF
      275 Franklin Ave, Franklin Square, NY 11010-1328
      View Details
    • Value Estimation
      $260,000
      4,200 SF

      111 Franklin Ave

      AUTO REPAIR, GARAGE • 4,200 SF
      111 Franklin Ave, Franklin Square, NY 11010-2524
      View Details
    • Value Estimation
      $210,000
      3,120 SF

      789 Hempstead Tpke

      AUTO REPAIR, GARAGE • 3,120 SF
      789 Hempstead Tpke, Franklin Square, NY 11010-4328
      View Details
    • Value Estimation by Request
      1,748 SF

      814 Hempstead Tpke

      AUTO REPAIR, GARAGE • 1,748 SF
      814 Hempstead Tpke, Franklin Square, NY 11010-4320
      View Details

    Similar Nearby for Sale

    • $2,400,000
      8,388 SF

      Retail Property on Hempstead Turnpike

      Freestanding retail property with high traffic and frontage.
      636 Hempstead Tpke, Franklin Square, NY 11010
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      Turnkey Restaurant Opportunity in Franklin Square

      Fully equipped restaurant property for sale in Franklin Square, NY.
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      Turn-Key Italian Restaurant & Pizzeria

      Award-winning Italian restaurant and pizzeria for sale in Franklin Square.
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    • $3,450,000
      7,915 SF

      Retail Property in Franklin Square

      Retail property available for sale in Franklin Square, NY.
      747 Franklin Ave, Franklin Square, NY 11010
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    • $2,847,000

      Renovated Showroom with Storage

      Multi-use commercial property with renovated showroom, storage, and parking.
      465 Franklin Ave, Franklin Square, NY 11010
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    • $55,000

      Turn-Key Hair Salon Opportunity

      Established hair salon for sale in Franklin Square.
      380 Franklin Ave, Franklin Square, NY 11010
      View Details

    Similar Nearby for Lease

    • $26 SF/Yr
      6,549 SF

      Franklin Square Retail Space Available

      Retail space for lease in Franklin Square, New York.
      120 New Hyde Park Rd, Franklin Square, NY 11010
      View Details
    • New
      $2,900 /Mo

      Prime Office/Retail Space Available

      High-visibility corner storefront/office space on Hempstead Turnpike.
      900 Hempstead Tpke, Franklin Square, NY 11010
      View Details
    • Contact for pricing
      2,200 SF

      Neighborhood Strip Center For Rent

      Neighborhood strip center anchored by King Kullen. High traffic location.
      170-206 New Hyde Park Rd, Franklin Square, NY 11010
      View Details
    • $26 SF/Yr
      13,299 SF

      Franklin Square Retail For Lease

      Retail space in Franklin Square, high-traffic area, parking on-site.
      120 New Hyde Park Rd, Franklin Square, NY 11010
      View Details
    • Contact for pricing
      1,697 SF

      Retail Units on Hempstead Turnpike

      Vanilla box retail units with high visibility and foot traffic.
      1081-1083 Hempstead Tpke, Franklin Square, NY 11010
      View Details
    • $35 SF/Yr
      7,742 SF

      Hempstead Turnpike Coworking Space

      Prime Franklin Square Office, 1600 SF Available
      1200 Hempstead Tpke, Franklin Square, NY 11010
      View Details
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    980 Washington St
    Franklin Square, NY 11010-2933
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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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