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Property profile & analytics
OFF-MARKET
Estimated value
$1,110,000
Investment properties
1029 Willis Ave Albertson, NY 11507-1333
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US63-0293666
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,596 SF
Lot
0.26 ac (11,195 SF)
APN
07-098-00-0045
UPID
US63-0293666
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Raeder's Wines & Liquors Specialty Food Shop Wine and Liquor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.04M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.17M
Blend (final)
Blend
$1.11M
Owner & transaction history
Raeders 1029 Realty LLC · 2 yrs held
Raeders 1029 Realty LLC
since 2023
Last sale
$1.1M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.4M
+35.5%
Office building
$1.1M
+9.0%
Auto repair, garage
$1.1M
+1.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Albertson submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Albertson submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,150,000
ML approach
$1,040,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,035,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,400,000
Change: +36% · Conversion: Difficult
OFFICE BUILDING
$1,125,000
Change: +9% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,050,000
Change: +2% · Conversion: Difficult
RETAIL STORES
$910,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$1.11M
Range $999k – $1.22M · ±10% · vs last sale $1.10M (Nov 10 2023)
Last sale anchor
$1.10M
Nov 10 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$695 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$21,685
Tax year 2023
Assessed value
$3,832
Assessed 2023
Previous assessed
$3,832
+0.0% YoY
Effective rate
565.89%
On assessed value
Assessed land
$3,525
Assessed improvement
$307
Total market value
$383,200
Applied tax rate
837.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
1,596 SF
Lot
0.26 ac (11,195 SF)
APN
07-098-00-0045
UPID
US63-0293666
Jurisdiction
NASSAU
Metro division
NASSAU-SUFFOLK, NY METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$910,000
COMMERCIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.26 ac
Current owner
From public records · entity-resolved
Raeders 1029 Realty LLC
Entity
Mailing address
1029 WILLIS AVE, ALBERTSON, NY 11507-1333
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 10, 2023
$1,100,000
Raeders 1029 Realty LLC
Zan Realty LLC
Bargain And Sale Deed
$3,700,000 · Hanmi Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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