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    Property profile & analytics

    55 Cherry Ln Carle Place, NY 11514-1770

    • Office buildings
    • 1,300 SF
    • 0.89 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1535992
    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

    • Jewelry Judge / Estate Appraiser / Gemologist
    • Dr. Virginia Summerville, MD, PLLC - Child & Adolescent Psychiatrist / Child Psychiatrist / Psychiatrist
    • FedEx Drop Box / Mailing Service
    • Landstar Title Agency / Title Company
    • Mund & McDonald PLLC / Legal Services

    Property Details for 55 Cherry Ln

    Year built
    2004
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.89 lot acres
    Property size
    1,300 SF
    Property type
    Office buildings
    APN
    10-026-00-0001
    APU
    10026000001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Carle Place
    County
    Nassau
    State
    New York
    Longitude
    -73.6052
    Latitude
    40.7493
    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
    $70,409
    $7,469
    $916
    $8,385
    -
    $0.00
    $0.00
    $838,500

    Comparable in this City

    • Value Estimation
      $115,000
      494 SF

      584 Mineola Ave

      OFFICE BUILDING • 494 SF
      584 Mineola Ave, Carle Place, NY 11514-1759
      View Details
    • Value Estimation
      $175,000
      6,409 SF

      393 Old Country Rd, Unit 401

      OFFICE BUILDING • 6,409 SF
      393 Old Country Rd, Carle Place, NY 11514-2131
      View Details
    • Value Estimation by Request
      2,625 SF

      420 Westbury Ave

      OFFICE BUILDING • 2,625 SF
      420 Westbury Ave, Carle Place, NY 11514-1402
      View Details
    • Value Estimation
      $90,000
      1,093 SF

      555 Westbury Ave

      OFFICE BUILDING • 1,093 SF
      555 Westbury Ave, Carle Place, NY 11514-1748
      View Details
    • Value Estimation by Request
      1,550 SF

      487 Westbury Ave

      OFFICE BUILDING • 1,550 SF
      487 Westbury Ave, Carle Place, NY 11514-1450
      View Details
    • Value Estimation
      $70,000
      7,110 SF

      200 Stonehinge Ln, Unit 204

      OFFICE BUILDING • 7,110 SF
      200 Stonehinge Ln, Carle Place, NY 11514-1713
      View Details

    Similar Nearby for Sale

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      5,800 SF

      Versatile Commercial Building in Carle Place

      Two-story commercial building with office, retail, showroom, warehouse, and industrial space.
      226 Westbury Ave, Carle Place, NY 11514
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    • $1,000,000
      2,786 SF

      249 Old Country Rd

      Individual retail properties • 2,786 SF
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    • $2,500,000

      Carle Place Retail/Medical Building

      Re-built retail/medical building in Carle Place business district.
      470-472 Westbury Ave, Carle Place, NY 11514
      View Details

    Similar Nearby for Lease

    • $29 SF/Yr
      12,866 SF

      Carle Place Office Space Available

      Office space for lease with ongoing multi-million dollar renovation.
      1 Old Country Rd, Carle Place, NY 11514
      View Details
    • Contact for pricing
      50,000 SF

      Carle Place Office Space

      50000 square foot office space available for rent.
      393-399 Old Country Rd, Carle Place, NY 11514
      View Details
    • $413 /Mo
      2,786 SF

      Prime Carle Place Retail Showroom

      High-traffic location, 2,786 sq ft.
      249 Old Country Rd, Carle Place, NY 11514
      View Details
    • Contact for pricing
      3,980 SF

      Renovated Retail Space in Carle Place

      Retail space in renovated center with high visibility and traffic.
      209-221 Glen Cove Rd, Carle Place, NY 11514
      View Details
    • Contact for pricing
      3,000 SF

      Carle Place Retail Space Available

      Retail space available for rent in Carle Place, NY.
      201-263 Voice Rd, Carle Place, NY 11514
      View Details
    • Contact for pricing

      Former Bank Branch For Rent

      4,500 SF former bank branch available for immediate occupancy.
      267 Old Country Rd, Carle Place, NY 11514
      View Details
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    55 Cherry Ln
    Carle Place, NY 11514-1770
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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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