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    120 Park Ave Long Beach, NY 11561-3301

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    120 Park Ave Long Beach, NY 11561-3301

    View on Map
    • Office buildings
    • 2,860 SF
    • 0.23 lot acres
    Off-Market
    Last Sale Oct 25, 2021
    Property ID
    US63-0262034
    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.
    Value Estimations
    $1,370,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Denis G. Kelly & Associates / Law Firm
    • Second Wave Wellness and Online Counseling / Life Coach / Psychotherapist
    • Dr. Glen Shanock, DDS / Dental Office
    • Hometown Atlantic Inc / Insurance Agency
    • Koko FitClub of Long Beach / Gym & Fitness Center

    Property Details for 120 Park Ave

    Year built
    1962
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.23 lot acres
    Property size
    2,860 SF
    Property type
    Office buildings
    APN
    59-071-00-0026
    APU
    59071000026

    Description

    This exceptional retail property in Long Beach, New York, presents a fantastic leasing opportunity. Located at 120 E Park Ave, 11561, this multi-tenant building offers a total of 4,279 square feet, with 1,179 square feet currently available for lease. The property is classified as both a fitness center and street retail, providing versatile options for prospective tenants. The building boasts ample parking, a significant advantage in a high-traffic area. The address is conveniently situated in Nassau County, within the vibrant Long Beach community. This space is ideal for businesses seeking high visibility and accessibility. The existing tenant mix offers a synergistic environment, creating a thriving commercial hub. The 1,179 square foot vacant space is ready for immediate occupancy and customization to suit a variety of retail concepts. Its street-level location ensures maximum exposure to pedestrian and vehicular traffic. The ample parking ensures convenient access for customers and employees alike. This is a rare opportunity to secure a prime retail space in a desirable Long Beach location. Don't miss out on this chance to establish or expand your business in a thriving commercial environment. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,266,000
      Market price range: $50.6k - $1.27M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,020,000
      Current use
      AUTO REPAIR, GARAGE
      $1,880,000
      Change: -7% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,850,000
      Change: -8% Conversion: Easy
      RETAIL STORES
      $1,630,000
      Change: -19% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Long Beach
    County
    Nassau
    State
    New York
    Longitude
    -73.6676
    Latitude
    40.5881
    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
    $74,438
    $3,150
    $22,583
    $25,733
    -
    $0.00
    $0.00
    $2,573,300

    Comparable in this City

    • Value Estimation
      $775,000
      3,400 SF

      340 Park Ave

      PROFESSIONAL BUILDING (MULTI-STORY) • 3,400 SF
      340 Park Ave, Long Beach, NY 11561-3213
      View Details
    • Value Estimation
      $2,985,000
      5,666 SF

      670 Long Bch Blvd

      OFFICE BUILDING • 5,666 SF
      670 Long Bch Blvd, Long Beach, NY 11561-2237
      View Details
    • Value Estimation
      $935,000
      4,387 SF

      250 Lido Blvd

      OFFICE BUILDING • 4,387 SF
      250 Lido Blvd, Lido Beach, NY 11561-5015
      View Details
    • Value Estimation
      $1,580,000
      7,980 SF

      370 Park Ave

      OFFICE BUILDING • 7,980 SF
      370 Park Ave, Long Beach, NY 11561-3213
      View Details
    • Value Estimation
      $1,875,000
      7,492 SF

      303 Park Ave

      PROFESSIONAL BUILDING (MULTI-STORY) • 7,492 SF
      303 Park Ave, Long Beach, NY 11561-3600
      View Details
    • Value Estimation by Request
      1,480 SF

      1013-1015 Bch St

      PROFESSIONAL BUILDING (MULTI-STORY) • 1,480 SF
      1013-1015 Bch St, Long Beach, NY 11561
      View Details

    Similar Nearby for Sale

    • $4,900,000

      Renovated Office Building in Long Beach

      Fully renovated Class B office building in vibrant Long Beach.
      120 W Park Ave, Long Beach, NY 11561
      View Details
    • Contact for pricing
      7,200 SF

      Long Beach Office Building

      7,200 SF office building for sale in Long Beach.
      60 W Park Ave, Long Beach, NY 11561
      View Details
    • New
      $649,875
      Pending

      Renovated Office/Convertible Single Family

      Renovated doctor's office, convertible to single-family home.
      714 E Park Ave, Long Beach, NY 11561
      View Details

    Similar Nearby for Lease

    • $5,500 /Mo

      Street Level Office/Storefront For Rent

      Street level office/storefront in practically Class A condition for rent.
      214 W Park Ave, Long Beach, NY 11561
      View Details
    • $3,500 /Mo

      Move-in Ready Office in Long Beach

      Professional office space in Long Beach's financial district.
      20 Park St W, Long Beach, NY 11561
      View Details
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    120 Park Ave
    Long Beach, NY 11561-3301
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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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