Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    99 Covert Ave Stewart Manor, NY 11530
    Back to Search
    Property profile & analytics

    99 Covert Ave Stewart Manor, NY 11530

    View on Map
    • Retail properties & Spaces
    • 2,200 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 99 Covert Ave

    Property size
    2,200 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional 2,200 square foot freestanding building, located at 99 Covert Avenue in Stewart Manor, New York, presents a unique opportunity for medical professionals or a similar business. Situated on a prime corner lot, this property boasts a highly visible location with excellent street access. Previously utilized as a bank, the building has been completely gutted, offering a blank canvas for a custom build-out to perfectly suit your specific needs. The space is currently vacant and ready for immediate occupancy. The building is zoned B1, allowing for a variety of uses. Ample parking is available with 15 spaces provided on-site. The property is a single-tenant building, offering privacy and control over the entire space. This is an ideal location for a medical office, given its convenient access and visibility. The address is 99 Covert Ave, Stewart Manor, NY 11530. This property offers a rare chance to establish a thriving practice in a desirable location. Don't miss this opportunity to secure this exceptional medical office space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Stewart Manor
    County
    Nassau
    State
    New York
    Longitude
    -73.6889
    Latitude
    40.7199

    Comparable in this City

    • Value Estimation by Request
      260 SF

      Mrs Fld And Tcby Co-Branded Franchise For Sale In New York Market

      Restaurants • 260 SF
      0 Mrs Fld And Tcby Co-Branded Franchise For Sale In New York Market, Garden City, NY 11530
      View Details
    • Value Estimation
      $1,445,000
      2,100 SF

      108-110 7th St

      FINANCIAL BUILDING • 2,100 SF
      108-110 7th St, Garden City, NY 11530
      View Details
    • Value Estimation by Request
      1,728 SF

      500 Old Country Rd

      FINANCIAL BUILDING • 1,728 SF
      500 Old Country Rd, Garden City, NY 11530-1901
      View Details
    • Value Estimation
      $1,145,000
      4,800 SF

      60 Herricks Rd

      FINANCIAL BUILDING • 4,800 SF
      60 Herricks Rd, Garden City, NY 11530
      View Details
    • Value Estimation
      $3,420,000
      64,000 SF

      1415 Kellum Pl

      FINANCIAL BUILDING • 64,000 SF
      1415 Kellum Pl, Garden City, NY 11530-1695
      View Details
    • Value Estimation
      $750,000
      884 SF

      110 Covert Ave

      FINANCIAL BUILDING • 884 SF
      110 Covert Ave, Stewart Manor, NY 11530-3827
      View Details

    Similar Nearby for Sale

    • $1,380,000
      3,200 SF

      Corner Commercial Property in Garden City

      Prime location with high visibility and ample parking.
      621 Chestnut St, Garden City, NY 11530
      View Details
    • $1,380,000

      Corner Commercial Property Near DMV

      3,200 SF commercial property with high visibility and parking.
      621 Chestnut St, Garden City, NY 11530
      View Details
    • $325,363
      0.85 Acres

      Garden City Professional Office Space

      Versatile office space in a prime Garden City location.
      520 Franklin Ave, Garden City, NY 11530
      View Details
    • Contact for pricing
      1,642 SF

      Equipped Medical Office in Garden

      Fully equipped medical office space in a high-traffic location.
      877 Stewart Ave, Garden City, NY 11530
      View Details
    • $325,363

      Garden City Professional Office Space

      Versatile office space in a prime Garden City location.
      520 Franklin Ave, Garden City, NY 11530
      View Details
    • Contact for pricing
      7,430 SF

      Garden City Retail Opportunity

      Retail property available for sale in Garden City, NY.
      1100 Stewart Ave, Garden City, NY 11530
      View Details

    Similar Nearby for Lease

    • $34 SF/Yr

      Premier Office Space Available

      Office and retail spaces available for rent.
      600 Old Country Rd, Garden City, NY 11530
      View Details
    • Contact for pricing
      125,495 SF

      Class A Medical Office Space

      Medical/Retail building near Northern State Parkway and Mineola Station.
      1300 Franklin Ave, Garden City, NY 11530
      View Details
    • Contact for pricing
      1,650 SF

      Garden City First Floor Office

      First floor office space ideal for medical or general business.
      506 Stewart Ave, Garden City, NY 11530
      View Details
    • Contact for pricing
      4,576 SF

      Class A Office Building

      Three-story office building with 24/7 access and high traffic exposure.
      1103 Stewart Ave, Garden City, NY 11530
      View Details
    • $34 SF/Yr
      2,047 SF

      Prime Retail/Office Space Available

      Retail or office space near Roosevelt Field Mall.
      600 Old Country Rd, Garden City, NY 11530
      View Details
    • $25 SF/Yr

      Garden City Office Space Available

      Office spaces for lease in Garden City, New York.
      1205 Franklin Ave, Garden City, NY 11530
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    99 Covert Ave
    Stewart Manor, NY 11530
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    99 Covert Ave, Stewart Manor, NY, 11530
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!