Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    38 Chestnut St Massapequa, NY 11758-4704

    • Warehouses
    • 4,320 SF
    • 0.92 lot acres
    OFF-MARKET
    Last Sale
    Jul 17, 2023
    $247,000
    Value Estimations
    $240,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0967807
    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

    • Aable Auto Salvage Inc / Junkyard
    • Medford Auto Wreckers / Used Auto Parts Store
    • Action auto wreckers / Used Auto Parts Store / Car Repair And Maintenance Service
    • Lakewood Used Auto Parts / Used Auto Parts Store

    Property Details for 38 Chestnut St

    Year built
    1960
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.92 lot acres
    Property size
    4,320 SF
    Property type
    Warehouses
    APN
    53-027-00-0218
    APU
    53027000218

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Estimation
      $245,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $230,000
      6.5%
      $210,000
      7%
      $205,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $225,000
      Geo Method
      $200,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $270,000
      Retail
      $245,000
      Mixed-Use
      $265,000
      Hospitality
      $255,000
      Educational
      $245,000
      Residential Income
      $265,000
      Energy
      $260,000
      Income-Based Land
      $245,000
      Food Service
      $230,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Massapequa
    County
    Nassau
    State
    New York
    Longitude
    -73.4297
    Latitude
    40.6805
    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
    $42,602
    $3,307
    $2,461
    $5,768
    -
    $0.00
    $0.00
    $576,800

    Comparable in this City

    • Value Estimation by Request
      195,485 SF

      941 Carmans Rd

      Warehouses • 195,485 SF
      941 Carmans Rd, Massapequa, NY 11758
      View Details
    • Value Estimation by Request
      3,645 SF

      48 Brooklyn Ave

      BULK STORAGE, TANKS • 3,645 SF
      48 Brooklyn Ave, Massapequa, NY 11758-4815
      View Details
    • Value Estimation by Request
      1,300 SF

      24 Brooklyn Ave

      BULK STORAGE, TANKS • 1,300 SF
      24 Brooklyn Ave, Massapequa, NY 11758-4812
      View Details
    • Value Estimation by Request
      2,657 SF

      Chestnut St

      MINI-WAREHOUSE, STORAGE • 2,657 SF
      Chestnut St, Massapequa, NY 11758
      View Details
    • Value Estimation
      $160,000
      24,670 SF

      6000 Sunrise Hwy

      MINI-WAREHOUSE, STORAGE • 24,670 SF
      6000 Sunrise Hwy, Massapequa, NY 11758-5330
      View Details
    • Value Estimation by Request
      5,868 SF

      10 Brooklyn Ave

      MANUFACTURING (LIGHT) • 5,868 SF
      10 Brooklyn Ave, Massapequa, NY 11758-4812
      View Details

    Similar Nearby for Sale

    • $549,500

      Massapequa Commercial Office Space

      High-Visibility Office, Ample Parking
      5514 Merrick Rd, Massapequa, NY 11758
      View Details
    • Contact for pricing

      4235 Merrick Road, Massapequa

      Land
      4235 Merrick Rd, Massapequa, NY 11758
      View Details
    • $8,250,000
      12,800 SF

      Retail Property on Merrick Road

      Retail property available for sale on Merrick Road.
      4125 Merrick Rd, Massapequa, NY 11758
      View Details
    • $1,000,000
      450 SF

      Massapequa Redevelopment Opportunity

      Prime Retail Space, High Traffic Area
      4340 Merrick Rd, Massapequa, NY 11758
      View Details
    • $1,599,900

      Massapequa Retail Investment Opportunity

      Retail property in high-traffic Massapequa location with income potential.
      4342-4348 Merrick Rd, Massapequa, NY 11758
      View Details
    • $164,300

      Vacant Land in Massapequa, NY

      Vacant land, approximately 7,000 SF, in Massapequa, NY.
      45 Carman Mill Rd, Massapequa, NY 11758
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      195,485 SF

      Carman's Plaza: Executive Office Suites

      Prime Massapequa Office Space Available
      941 Carmans Rd, Massapequa, NY 11758
      View Details
    • $3,000 /Mo
      1,150 SF

      Massapequa Retail Space For Rent

      Prime retail space in Massapequa strip mall, excellent visibility.
      185a Jerusalem Ave, Massapequa, NY 11758
      View Details
    • Contact for pricing
      876 SF

      Southgate Shopping Center Retail Space

      Retail and office spaces available within a busy shopping center.
      4900 Merrick Rd, Massapequa, NY 11758
      View Details
    • Contact for pricing
      4,600 SF

      Fully Built-Out Office Space

      Office space with full HVAC, generator, and usable basement.
      524 Hicksville Rd, Massapequa, NY 11758
      View Details
    • Contact for pricing
      14,000 SF

      Retail Space on Sunrise Highway

      Retail space available in Massapequa shopping center.
      5500 Sunrise Hwy, Massapequa, NY 11758
      View Details
    • Contact for pricing
      6,088 SF

      Massapequa Retail Space For Lease

      New 6,088 SF Retail Building
      4440 Sunrise Hwy, Massapequa, NY 11758
      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.
    38 Chestnut St
    Massapequa, NY 11758-4704
    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.

    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.