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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1208 3rd Ave New Hyde Park, NY 11040-5530

    • Manufacturing properties
    • 7,780 SF
    • 0.21 lot acres
    OFF-MARKET
    Last Sale
    Oct 25, 2024
    $3,500,000
    Value Estimations
    $3,500,000
    Show details
    Cap Rate Potential
    3.2%
    Manufacturing properties
    Location Intelligence
    Property ID
    US63-0293323
    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.

    Current Use by Public Records

    • New Hyde Park / Parking Lot
    • Piece Management / General Contractor

    Property Details for 1208 3rd Ave

    Year built
    1954
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.21 lot acres
    Property size
    7,780 SF
    Property type
    Manufacturing properties
    APN
    33-184-00-0227
    APU
    33184000227

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,500,000
      ML approach
      $3,500,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,810,000
      Market price range: $1.92M - $8.26M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $4,695,000
      Current use
      OFFICE BUILDING
      $5,490,000
      Change: +17% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $5,115,000
      Change: +9% Conversion: Easy
      COMMERCIAL (GENERAL)
      $5,035,000
      Change: +7% Conversion: Difficult
      RETAIL STORES
      $4,435,000
      Change: -6% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    New Hyde Park
    County
    Nassau
    State
    New York
    Longitude
    -73.6823
    Latitude
    40.73
    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
    2024
    $11,712
    $2,257
    $4,682
    $6,939
    -
    $0.00
    $0.00
    $693,900

    Comparable in this City

    • Value Estimation
      $2,015,000
      10,125 SF

      99 2nd Ave

      MANUFACTURING (LIGHT) • 10,125 SF
      99 2nd Ave, Garden City Park, NY 11040-5030
      View Details
    • Value Estimation
      $695,000
      4,000 SF

      1008 3rd Ave

      MANUFACTURING (LIGHT) • 4,000 SF
      1008 3rd Ave, New Hyde Park, NY 11040-5529
      View Details
    • Value Estimation
      $795,000
      4,338 SF

      195 Armstrong Rd

      MANUFACTURING (LIGHT) • 4,338 SF
      195 Armstrong Rd, New Hyde Park, NY 11040-5346
      View Details
    • Value Estimation
      $1,740,000
      9,830 SF

      246 Broadway

      MANUFACTURING (LIGHT) • 9,830 SF
      246 Broadway, New Hyde Park, NY 11040-5302
      View Details
    • Value Estimation
      $3,850,000
      21,854 SF

      200 Fulton Ave

      MANUFACTURING (LIGHT) • 21,854 SF
      200 Fulton Ave, Garden City Park, NY 11040-5306
      View Details
    • Value Estimation by Request
      3,337 SF

      55 Herricks Rd

      HEAVY MANUFACTURING • 3,337 SF
      55 Herricks Rd, New Hyde Park, NY 11040-5317
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10,000 SF

      Nassau Terminal: Industrial Value-Add

      10,000 SF Industrial Building, Needs TLC
      10 Nassau Terminal Rd, North New Hyde Park, NY 11040
      View Details
    • Contact for pricing
      11,812 SF

      Jericho Turnpike Auto Shop Investment

      11,812 SF Auto Shop, NNN Lease, 3.86% Cap Rate
      2070 Jericho Tpke, New Hyde Park, NY 11040
      View Details
    • $3,700,000
      5,115 SF

      Jericho Turnpike Auto Repair Shop

      High-traffic location, established business
      2110 Jericho Tpke, Garden City Park, NY 11040
      View Details
    • Contact for pricing
      10,684 SF

      Multi-Story Industrial Building with Apartment

      10,684 Sq. Ft. industrial building with residential apartment.
      36 Lakeville Rd, New Hyde Park, NY 11040
      View Details
    • Contact for pricing
      50,570 SF

      Warehouse with Secured Yard

      50,570 SF warehouse featuring loading docks and parking.
      50 Nassau Terminal Rd, New Hyde Park, NY 11040
      View Details
    • $420,000
      Pending

      Profitable Hibachi & Sushi Restaurant

      Thriving hibachi and sushi restaurant in Garden City Park.
      Jericho Tpke, Garden City Park, NY 11040
      View Details

    Similar Nearby for Lease

    • $5,975 /Mo
      2,400 SF

      New Hyde Park Retail/Office

      2400 SF retail/office space with parking in New Hyde Park.
      1631 Jericho Tpke, New Hyde Park, NY 11040
      View Details
    • $7,500 /Mo
      1,200 SF

      Prime Retail Space in New Hyde Park

      High-visibility retail space in Lakeville Shopping Center, available for lease.
      2070 Lakeville Rd, New Hyde Park, NY 11040
      View Details
    • Contact for pricing
      20,000 SF

      Retail Space in New Hyde Park

      20,000 SF retail space with ample parking.
      3350 Hillside Ave, New Hyde Park, NY 11040
      View Details
    • $3,500 /Mo

      Hillside Avenue Office Space Available

      Office space on Hillside Avenue, ideal for professional services.
      390 Hillside Ave, New Hyde Park, NY 11040
      View Details
    • $850 /Mo
      450 SF

      Williston Park Office Space Available

      Flexible office rooms for rent in Williston Park, NY.
      99 Hillside Ave, Williston Park, NY 11040
      View Details
    • Contact for pricing
      9,750 SF

      Dominant Grocer Anchored Retail Space

      Recently renovated shopping center with high traffic and dense population.
      2307-2348 Jericho Tpke, New Hyde Park, NY 11040
      View Details
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    1208 3rd Ave
    New Hyde Park, NY 11040-5530
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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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