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    Property profile & analytics

    2716 Hempstead Tpke Levittown, NY 11756-1326

    • Drive through restaurants
    • 3,203 SF
    • 0.37 lot acres
    OFF-MARKET
    Last Sale
    Mar 02, 2022
    $940,000
    Value Estimations
    $1,055,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-6058958
    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

    • Eatmore / Banquet Hall
    • Eat More Restaurant / Caterer
    • Butkovich / Taco Restaurant

    Property Details for 2716 Hempstead Tpke

    Year built
    1952
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.37 lot acres
    Property size
    3,203 SF
    Property type
    Drive through restaurants
    APN
    51-090-00-0231
    APU
    51090000231

    Description

    This vacant, 9,122-square-foot catering hall in Levittown, NY, presents a compelling investment opportunity for owner-users or investors. Located at 2716 Hempstead Tpke, 11756, this single-story, Class B building sits on a 0.37-acre lot and boasts 44 on-site parking spaces. Built in 1952, the property features a full basement and ample storage, ideal for a catering business or adaptable to various retail uses. The asking price is $3,000,000, with a price per square foot of $329. The property is zoned for commercial use and benefits from a high traffic count of 49,614 cars daily, situated conveniently next to the Wantagh State Parkway and accessible by multiple bus lines. The property is currently vacant, offering a blank canvas for a new venture. A separate opportunity exists to acquire the existing NNN tenant's business for a combined sale price of $3,500,000. This fee-simple ownership provides complete control and potential for significant return on investment. The property's location within a thriving retail neighborhood further enhances its appeal and potential for success. The Nassau County location and the property's features make this a rare opportunity in a desirable market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,055,000
      ML approach
      $995,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Levittown
    County
    Nassau
    State
    New York
    Longitude
    -73.5351
    Latitude
    40.7238
    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
    $77,841
    $5,046
    $3,439
    $8,485
    -
    $0.00
    $0.00
    $848,500

    Comparable in this City

    • Value Estimation
      $170,000
      2,940 SF

      3595 Hempstead Tpke

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,940 SF
      3595 Hempstead Tpke, Levittown, NY 11756-1314
      View Details
    • Value Estimation
      $195,000
      2,916 SF

      3880 Hempstead Tpke

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,916 SF
      3880 Hempstead Tpke, Levittown, NY 11756-1303
      View Details
    • Value Estimation
      $260,000
      2,949 SF

      3839 Hempstead Tpke

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,949 SF
      3839 Hempstead Tpke, Levittown, NY 11756-1305
      View Details
    • Value Estimation
      $3,165,000
      3,534 SF

      3095 Hempstead Tpke

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,534 SF
      3095 Hempstead Tpke, Levittown, NY 11756-1317
      View Details
    • Value Estimation by Request

      2730 Hempstead Tpke

      Lifestyle centers
      2730 Hempstead Tpke, Levittown, NY 11756
      View Details
    • Value Estimation
      $140,000
      11,787 SF

      3046 Hempstead Tpke

      RESTAURANT • 11,787 SF
      3046 Hempstead Tpke, Levittown, NY 11756-1338
      View Details

    Similar Nearby for Sale

    • $8,000,000
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      Levittown Retail Property For Sale

      30,000 SF retail property in Levittown, NY for sale.
      2707 Hempstead Tpke, Levittown, NY 11756
      View Details
    • $500,000

      Levittown Specialty Property for Sale

      Specialty property available for purchase in Levittown, New York.
      2715 Hempstead Tpke, Levittown, NY 11756
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    • $799,000
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      Levittown Office Building For Sale

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      Renovated Medical Building Investment Opportunity

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    Similar Nearby for Lease

    • $25 SF/Yr
      95,450 SF

      Levittown Retail Space Available

      Prime Retail Space, Nassau County, NY
      3601 Hempstead Tpke, Levittown, NY 11756
      View Details
    • $4,600 /Mo
      17,281 SF

      Levittown Retail Space For Rent

      Prime storefront in a busy, established shopping center with ample parking.
      3259 Hempstead Tpke, Levittown, NY 11756
      View Details
    • Contact for pricing
      6,956 SF

      Retail Space in Levittown

      Retail space with high visibility and accessibility in Levittown.
      3345-3371 Hempstead Tpke, Levittown, NY 11756
      View Details
    • Contact for pricing
      5,000 SF

      Levittown Retail Space Available

      5,000 SF retail property for lease in Levittown, NY.
      3171 Hempstead Tpke, Levittown, NY 11756
      View Details
    • Contact for pricing
      17,550 SF

      Hempstead Turnpike Retail Center

      Levittown Shopping Center - 6 Suites Available
      3695-3721 Hempstead Tpke, Levittown, NY 11756
      View Details
    • $22,500,000
      3,000 SF

      Levittown Retail Space Available

      3,000 SF retail space for rent in Levittown, NY.
      2921 Hempstead Tpke, Levittown, NY 11756
      View Details
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    Levittown, NY 11756-1326
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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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