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    Renovated Commercial Building, North Merrick Title is generated by Realmo AI

    On Merrick Road Merrick Avenue, Merrick, NY 11566

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    For Sale
    $2,625,000

    SINGLE_FAMILY - Merrick, NY

    Type:Office
    Property size:
    5,482 SF
    Lot size:
    0.40 Acres
    Price / SF:
    $478/SF
    Added:
    Jun 14, 2025
    Days on Market:
    340
    Last Refresh:
    May 19 at 6:06 am

    Property Features for On Merrick Road Merrick Avenue

    General Information

    Property type
    Residential
    Property subtype
    Office
    Zoning
    C
    Rooms
    Basement
    Parking
    28
    Parking features
    On Street, Driveway, Parking Lot
    Basement
    Walk-Out Access, Unfinished
    Standard status
    Active
    APN
    2089-56-101-00-0015-0
    Size
    5,482 SF
    Lot size
    0.40 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    66887

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Oil
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1956
    Floors in Building
    1
    Number of units
    6
    Flooring type
    Combination
    Building materials
    Brick

    We can help!

    Listing Contact
    Ameet Sikka

    Listing agent Ameet Sikka

    Listing office National Real Estate Agency 424 S Broadway, Hicksville, NY

    Listing date Jun 14, 2025

    MLS# 873302

    Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime North Merrick location on a high‑traffic corner lot.
    • Fully renovated 5,482 sq ft brick commercial building.
    • Six spacious units feature private entrances, modern flooring, and LED lighting.
    • Private parking lot with 28 spaces, recently repaved.
    • Currently occupied by a strong mix of professional tenants.
    • Close proximity to amenities, major highways, and shopping centers.

    Overview

    This newly renovated, freestanding brick commercial building is located in a prime North Merrick location. Situated on a 17,303 sq ft corner lot along a high-traffic main road, the property offers approximately 5,482 sq ft of interior space. It is suited for both investors and owner-users. The building features 6 spacious units, each with private entrances, modern flooring, and energy-efficient LED lighting. There are 5 bathrooms, storage closets, and an unfinished basement suitable for storage and building systems. A private parking lot provides 28 spaces, recently repaved with new blacktop, and a newly constructed walkway. The building is currently occupied by a mix of professional tenants, including a dentist, psychiatrist, internal medicine physician, cardiologist (featuring a mini operating room), and a foot spa. One unit is currently vacant, presenting an opportunity for an owner-user or additional rental income. The property is located near the heart of North Merrick, with proximity to Starbucks, restaurants, schools, major highways, and shopping centers, offering visibility and accessibility.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Map

    City
    Merrick
    County
    Nassau
    State
    New York
    Longitude
    -73.5562
    Latitude
    40.6667

    Nearby Similar for Sale

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    • Contact for pricing
      22,865 SF

      Redevelopment Opportunity in High-Traffic Location

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    FAQs

    What type of property is this?
    Office building - Updated commercial property in North Merrick with strong tenant mix.
    Where is this office building located?
    The property is located at On Merrick Road Merrick Avenue Merrick, NY.
    What is the asking price?
    The asking price for this property is $2,625,000.
    What are key features of this property?
    This property features: Prime North Merrick location on a high‑traffic corner lot.; Fully renovated 5,482 sq ft brick commercial building.; Six spacious units feature private entrances, modern flooring, and LED lighting.
    (516) 519-4363
    We can help!
    Listing Contact
    Ameet Sikka
    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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