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    Property profile & analytics

    240 Voice Rd Carle Place, NY 11514

    • Retail properties
    • 131,850 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 240 Voice Rd

    Year built
    1951
    Property size
    131,850 SF
    Property type
    Retail properties
    Property subtype
    Restaurants

    Description

    This exceptional retail opportunity is located at 240 Voice Rd, Carle Place, NY 11514, within the prestigious Voice Rd Shopping Plaza. The plaza, situated in the North Hempstead submarket of Nassau County, comprises two single-story buildings totaling 131,850 square feet, built in 1951 and renovated in 1996. Currently, there are 14 suites, with 20,000 square feet of vacant space available, divisible to a minimum of 710 square feet and up to 5,710 square feet. The property sits on an 8.17-acre lot and offers ample parking with 456 spaces. This prime location benefits from high visibility and a steady flow of customers drawn to the diverse mix of existing tenants. The property's convenient amenities and ample parking further enhance its appeal. This is an ideal opportunity for retailers and restaurants seeking a thriving location in a well-established shopping center. The property's strategic location within a busy commercial area ensures high foot traffic and excellent exposure for your business. Take advantage of this chance to establish your presence in a successful retail environment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Carle Place
    County
    Nassau
    State
    New York
    Longitude
    -73.6194
    Latitude
    40.7467

    Comparable in this City

    • Value Estimation by Request
      912 SF

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      RETAIL STORES (PERSONAL SERVICES) • 912 SF
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    • Value Estimation by Request
      2,000 SF

      143 Old Country Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,000 SF
      143 Old Country Rd, Carle Place, NY 11514-1805
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    • Value Estimation
      $1,410,000
      7,500 SF

      143 Old Country Rd

      RETAIL STORES (PERSONAL SERVICES) • 7,500 SF
      143 Old Country Rd, Carle Place, NY 11514-1805
      View Details
    • Value Estimation by Request
      912 SF

      465 Westbury Ave, Unit 485

      RETAIL STORES (PERSONAL SERVICES) • 912 SF
      465 Westbury Ave, Carle Place, NY 11514-1401
      View Details
    • Value Estimation
      $1,225,000
      2,016 SF

      582-588 Carle Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,016 SF
      582-588 Carle Rd, Carle Place, NY 11514
      View Details
    • Value Estimation by Request
      3.37 Acres

      Marginal Rd

      RETAIL STORES (PERSONAL SERVICES) • 3.37 Acres
      Marginal Rd, Carle Place, NY 11514
      View Details

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    240 Voice Rd
    Carle Place, NY 11514
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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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