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    Property profile & analytics

    185 Willis Ave Mineola, NY 11501-2671

    • Office buildings
    • 450 SF
    • 0.29 lot acres
    OFF-MARKET
    Last Sale
    Jun 09, 2022
    $1,600,000
    Value Estimations
    $1,625,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3053965
    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

    • Alert Process Services Agency / Legal Services
    • Kronin O'Leary Real Estate / Real Estate Agency
    • Related Services LLC. / Contractor
    • Mineola Medical Lab LLC / Medical Laboratory / Pathologist
    • SentienceIT / Computer Service

    Property Details for 185 Willis Ave

    Year built
    1961
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.29 lot acres
    Property size
    450 SF
    Property type
    Office buildings
    APN
    09-410-00-0562
    APU
    9410000562

    Description

    This exceptional 4,000 square foot executive office suite is ideally situated on the second floor of a well-maintained building at 185 Willis Avenue in Mineola, New York, zip code 11501. The space is configured as a single-tenant occupancy, offering fourteen individual offices, perfect for a growing business or a company seeking a prestigious location. The suite boasts a highly desirable location, providing convenient access to a multitude of amenities and services. The building itself is well-occupied, indicating a strong and stable tenancy within the building. Ample parking is available for the building's tenants, ensuring convenient access for employees and clients. This turnkey solution offers immediate occupancy and is ready for your business to thrive. The property is located in Mineola, NY, a vibrant and accessible area. The precise total building square footage is not currently available. This executive office suite presents a rare opportunity to secure a substantial and well-appointed space in a prime location. The address is 185 Willis Avenue, Mineola, NY 11501. The geographic coordinates are latitude 40.7454455 and longitude -73.6392284.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,745,000
      ML approach
      $1,555,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Mineola
    County
    Nassau
    State
    New York
    Longitude
    -73.6393
    Latitude
    40.7454
    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
    $84,541
    $4,041
    $12,762
    $16,803
    -
    $0.00
    $0.00
    $1,680,300

    Comparable in this City

    • Value Estimation
      $1,575,000
      6,580 SF

      134 Herricks Rd

      OFFICE BUILDING • 6,580 SF
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      View Details
    • Value Estimation
      $1,810,000
      6,950 SF

      499 Jericho Tpke

      OFFICE BUILDING • 6,950 SF
      499 Jericho Tpke, Mineola, NY 11501-1136
      View Details
    • Value Estimation
      $3,325,000
      10,026 SF

      72 Jericho Tpke

      OFFICE BUILDING • 10,026 SF
      72 Jericho Tpke, Mineola, NY 11501-1822
      View Details
    • Value Estimation
      $2,695,000
      3,233 SF

      1 Jericho Tpke

      PROFESSIONAL BUILDING (MULTI-STORY) • 3,233 SF
      1 Jericho Tpke, Mineola, NY 11501-2901
      View Details
    • Value Estimation
      $2,540,000
      3,000 SF

      190 Jericho Tpke

      OFFICE BUILDING • 3,000 SF
      190 Jericho Tpke, Mineola, NY 11501-2054
      View Details
    • Value Estimation
      $1,465,000
      5,220 SF

      131 Mineola Blvd

      OFFICE BUILDING • 5,220 SF
      131 Mineola Blvd, Mineola, NY 11501-3976
      View Details

    Similar Nearby for Sale

    • 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
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    • $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
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    • $3,400,000

      Mineola Multifamily Investment Opportunity

      15-Unit Apartment Building, Prime Location
      203 Willis 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
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    • $9,999,999
      13,000 SF

      2-Acre Industrial Warehouse Complex

      2-acre industrial property with 24 tenants and 12 workshops.
      75 Windsor Ave, Mineola, NY 11501
      View Details
    • $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

    Similar Nearby for Lease

    • $32 SF/Yr
      114,356 SF

      Prime Office Space Available

      Office building for rent with direct street access.
      114 Old Country Rd, Mineola, NY 11501
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      Mineola Office Space Available

      Large office building in Mineola, New York available for rent.
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      View Details
    • Contact for pricing
      108,600 SF

      Mineola Office Space Available

      Office building with 108,600 square feet available for rent.
      120 Mineola Blvd, Mineola, NY 11501
      View Details
    • $29 SF/Yr
      3,140 SF

      Mineola Office Space For Rent

      Office space with restaurant, concierge, and parking near train.
      170 Old Country Rd, Mineola, NY 11501
      View Details
    • Contact for pricing
      6,253 SF

      Mineola Freestanding Surgical Center

      Freestanding ambulatory surgical center in Mineola, renovated in 2002.
      110 Willis Ave, Mineola, NY 11501
      View Details
    • $1,250 /Mo
      3,676 SF

      Renovated Law Office in Mineola

      Newly renovated office building with six offices for rent.
      98-100 Willis Ave, Mineola, NY 11501
      View Details
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    185 Willis Ave
    Mineola, NY 11501-2671
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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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