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Property profile & analytics
OFF-MARKET
Retail properties & Spaces
1200 Franklin Ave, Garden City, NY 11530-1628
Individually Owned
2-yr Hold
Free & Clear
Property ID
US63-2930044
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1956
Total area
12,834 SF
Lot
2.3 ac (100,014 SF)
APN
34-514-00-0009
UPID
US63-2930044
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
-
The Parmiter Group Wealth Management - Morgan Stanley Financial Advisor
-
Thomas J Dunn - Morgan Stanley Financial Advisor
-
The Notter Group - Morgan Stanley Financial Advisor
-
Summit Point Group - Morgan Stanley Financial Advisor
-
Matthew Mott - Morgan Stanley Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
New York University · 2 yrs held
New York University
since 2023
Last sale
$92.3M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$453,707
Tax year 2023
Assessed value
$141,886
Assessed 2023
Previous assessed
$141,886
+0.0% YoY
Effective rate
319.77%
On assessed value
Assessed land
$25,621
Assessed improvement
$116,265
Total market value
$14,188,600
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
1956
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
2
Total area
12,834 SF
Lot
2.3 ac (100,014 SF)
APN
34-514-00-0009
UPID
US63-2930044
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
Building & site characteristics
From public records
Year built
1956
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
2
Lot
2.3 ac
Current owner
From public records · entity-resolved
New York University
Individual
Free & Clear · 2 yrs held
Mailing address
550 1ST AVE, NEW YORK, NY 10016-6402
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 11, 2023
$92,264,382
New York University
Lt Garden City LLC
Deed
—
Aug 20, 2015
—
Lord & Taylor LLC
Lt Eastchester LLC
Grant Deed
related
—
Aug 20, 2015
$67,408
Lt Garden City LLC
Lt Propco LLC
Warranty Deed
related
$87,364,051 · Jp Morgan Chase Bk
Nov 3, 2006
$16,027,576
Lt Propco LLC
Federated Retail Holdings
Quit Claim Deed
$29,782,297 · * Other Institutional Lenders
—
—
Lt Propco LLC
—
Deed Of Trust
related
$29,782,297 · * Other Institutional Lenders
—
—
Lt Propco LLC
—
Deed Of Trust
related
$17,138,150 · Credit Suisse Ag Cayman Island
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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