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    1958 Jericho Tpke Elwood, NY 11731
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    1958 Jericho Tpke, Elwood, NY 11731

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    • Lifestyle centers
    • 11,663 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • EMF Gourmet Italian Market / Specialty Food Shop

    Property Details for 1958 Jericho Tpke

    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Elwood
    County
    Suffolk
    State
    New York
    Longitude
    -73.3309
    Latitude
    40.8375

    Comparable in this City

    • Value Estimation by Request
      7.11 Acres

      3083-3087 Jericho Tpke

      MINI-MALL
      3083-3087 Jericho Tpke, East Northport, NY 11731
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    • Value Estimation by Request
      4.80 Acres

      4067 Jericho Tpke

      MINI-MALL
      4067 Jericho Tpke, East Northport, NY 11731-6213
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    • Value Estimation by Request
      2.62 Acres

      4097 Jericho Tpke

      SHOPPING CENTER, STRIP CENTER
      4097 Jericho Tpke, East Northport, NY 11731-6211
      View Details
    • Value Estimation by Request
      2.17 Acres

      1952 Jericho Tpke, Unit 1960

      SHOPPING CENTER, STRIP CENTER
      1952 Jericho Tpke, East Northport, NY 11731-6207
      View Details
    • Value Estimation by Request
      1.95 Acres

      286-290B Larkfield Rd

      SHOPPING CENTER, STRIP CENTER
      286-290B Larkfield Rd, East Northport, NY 11731
      View Details
    • Value Estimation by Request
      3.00 Acres

      Larkfield Rd

      SHOPPING CENTER, STRIP CENTER
      Larkfield Rd, East Northport, NY 11731
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,624 SF

      NNN Leased 7-Eleven Investment

      NNN leased 7-Eleven with corporate guarantee and rent increases.
      3041 Jericho Tpke, East Northport, NY 11731
      View Details
    • New
      $950,000
      0.25 Acres

      One-Story Auto Repair Center

      One-story repair facility with three service bays and roll-up doors, plus parking for vehicles and customers.
      69 Laurel Rd, East Northport, NY 11731
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    • Contact for pricing
      2,500 SF

      East Northport Retail Space Available

      Retail property for rent, previously a Citizens Bank branch.
      563 Larkfield Rd, East Northport, NY 11731
      View Details
    • New
      $1,200,000
      0.13 Acres

      Restaurant with Two-Unit Income Above

      Turnkey restaurant with bar and two apartments above, with convenient parking behind on a busy road.
      26 Laurel Rd, East Northport, NY 11731
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,500 SF

      Retail Space in East Northport

      Retail space available in East Northport shopping center.
      1912-1960 Jericho Tpke, East Northport, NY 11731
      View Details
    • Contact for pricing
      10,951 SF

      Retail Space in East Northport

      Retail space available in Huntington Square shopping center.
      4000 Jericho Tpke, East Northport, NY 11731
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    • Contact for pricing
      2,969 SF

      Renovated Retail Space Available

      Newly renovated shopping center space for rent.
      1929-1937 Jericho Tpke, East Northport, NY 11731
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    • Contact for pricing
      20,000 SF

      Retail Space on Jericho Turnpike

      Retail space available on Jericho Turnpike in East Northport.
      4005 Jericho Tpke, East Northport, NY 11731
      View Details
    • Contact for pricing
      3,300 SF

      Retail Space in High-Traffic Area

      Retail space available in a high-traffic location.
      4199 Jericho Tpke, East Northport, NY 11731
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    • Contact for pricing
      2,900 SF

      Prime Elwood Retail Space

      2,900 SF Freestanding Retail Building
      1941 Jericho Tpke, Elwood, NY 11731
      View Details
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    Elwood, NY 11731
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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.

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