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Property profile & analytics
OFF-MARKET
Estimated value
$7,255,000
Retail properties & Spaces
1111 Franklin Ave, Garden City, NY 11530-1617
Entity Owned
7-yr Hold
Free & Clear
Property ID
US63-3618398
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
10,592 SF
Lot
1.25 ac (54,319 SF)
APN
34-00D-00-0202
UPID
US63-3618398
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
-
NYU Langone Child Neurology Associates—Mineola Pediatrician
-
NYU Langone Radiology—Mineola Mammography Service
-
Bogdan Andrei Grigorescu, MD Physician Medical Clinic
-
Leonard R. Krilov, MD Physician
-
Jeffrey Todd Schiff, MD, MPH Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.26M
Owner & transaction history
Steel 1111 LLC · 7 yrs held
Steel 1111 LLC
since 2018
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$10.4M
+23.9%
Restaurant
$9.4M
+12.5%
Neighborhood: shopping center
$9.3M
+11.1%
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 Garden City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Garden City 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$8,360,000
Current use
COMMERCIAL (GENERAL)
$10,355,000
Change: +24% · Conversion: Easy
RESTAURANT
$9,405,000
Change: +12% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$9,290,000
Change: +11% · Conversion: Moderate
OFFICE BUILDING
$8,495,000
Change: +2% · Conversion: Easy
AUTO REPAIR, GARAGE
$6,960,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$7.26M
Range $6.53M – $7.98M · ±10%
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
$685 / 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
Assessed value
$60,766
Assessed 2023
Previous assessed
$94,583
-35.8% YoY
Assessed land
$19,549
Assessed improvement
$41,217
Total market value
$6,076,600
Applied tax rate
401.0000
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
3
Total area
10,592 SF
Lot
1.25 ac (54,319 SF)
APN
34-00D-00-0202
UPID
US63-3618398
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
RETAIL STORES Current
Est. value
$8.4M
COMMERCIAL (GENERAL)
Est. value
$10.4M
RESTAURANT
Est. value
$9.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$9.3M
OFFICE BUILDING
Est. value
$8.5M
AUTO REPAIR, GARAGE
Est. value
$7.0M
RETAIL STORES Current
COMMERCIAL (GENERAL)
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
3
Lot
1.25 ac
Current owner
From public records · entity-resolved
Steel 1111 LLC
Entity
Free & Clear · 7 yrs held
Mailing address
999 S OYSTER BAY RD STE #200, BETHPAGE, NY 11714-1045
Ownership since
2018
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
Oct 16, 2018
$10,000,000
Steel 1111 LLC
Ahrs Corp
Grant Deed
—
—
—
Sears Dev Co
—
Deed Of Trust
related
$300,000 · Jpp LLC
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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