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Property profile & analytics
OFF-MARKET
Estimated value
$750,000
Banks
110 Covert Ave, Stewart Manor, NY 11530-3827
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US63-1043982
Property summary
AI-generated overview
This exceptional 2,600-square-foot retail space is ideally situated in Garden City, Nassau County, at 110 Covert Avenue. The single-tenant property boasts a prime corner location, offering excellent visibility and accessibility. Its former use as a Chase bank provides a strong foundation for a variety of retail, restaurant, or office uses. The building is situated on a 0.125-acre lot within a larger 5,000-acre parcel, and benefits from convenient access to municipal parking. The property features prominent signage opportunities, maximizing its marketing potential. The one-story building offers ample space for customization and tenant improvements. Annual property taxes are $14 per square foot. The property's location within the Garden City submarket and submarket cluster provides access to a thriving commercial district and a strong customer base. This is a rare opportunity to acquire a high-visibility retail space in a desirable location. The property is currently vacant, presenting a blank canvas for a new business venture. The address is 110 Covert Avenue, Garden City, NY 11530, with a cross street of Chester Avenue.
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
884 SF
Lot
0.09 ac (4,000 SF)
APN
33-272-00-0205
UPID
US63-1043982
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
-
Universal Appliance Repair Floral Park Home Appliance Store
-
Chase Bank Atm Bank
-
Chase Mortgage Loan Service Bank
-
Chase ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$750k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$548k
Blend (final)
Blend
$750k
Owner & transaction history
Diamond 2626 LLC · 1 yrs held
Diamond 2626 LLC
since 2024
Last sale
$750,000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$865,000
+21.7%
Neighborhood: shopping center
$775,000
+9.2%
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 Stewart Manor submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Stewart Manor 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
$750,000
ML approach
$750,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$710,000
Current use
COMMERCIAL (GENERAL)
$865,000
Change: +22% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$775,000
Change: +9% · Conversion: Difficult
OFFICE BUILDING
$710,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$700,000
Change: -2% · Conversion: Difficult
AUTO REPAIR, GARAGE
$580,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$750k
Range $675k – $825k · ±10% · vs last sale $750k (Jul 26 2024)
Last sale anchor
$750k
Jul 26 2024
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
$848 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$5,107
Tax year 2024
Assessed value
$4,294
Assessed 2024
Previous assessed
$4,294
+0.0% YoY
Effective rate
118.93%
On assessed value
Assessed land
$606
Assessed improvement
$3,688
Total market value
$429,400
Applied tax rate
144.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
884 SF
Lot
0.09 ac (4,000 SF)
APN
33-272-00-0205
UPID
US63-1043982
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
FINANCIAL BUILDING Current
Est. value
$710,000
COMMERCIAL (GENERAL)
Est. value
$865,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$775,000
OFFICE BUILDING
Est. value
$710,000
RETAIL STORES
Est. value
$700,000
AUTO REPAIR, GARAGE
Est. value
$580,000
FINANCIAL BUILDING Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
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
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.09 ac
Current owner
From public records · entity-resolved
Diamond 2626 LLC
Entity
Free & Clear · 1 yrs held
Mailing address
25 DICKENSON PL STE #1, GREAT NECK, NY 11023-1926
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 26, 2024
$750,000
Diamond 2626 LLC
Jpmorgan Chase Bank
Deed
—
Oct 24, 2006
$470,940
Jpmorgan Chase Bank NA
Bank Of New York
Grant Deed
related
—
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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