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Property profile & analytics
OFF-MARKET
Estimated value
$13,270,000
Turn key restaurants
15 Railroad Pl, Island Park, NY 11558-2236
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US63-6267654
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1966
Construction
STEEL FRAME
Total area
1,600 SF
Lot
0.67 ac (29,316 SF)
APN
43-014-00-0111
UPID
US63-6267654
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.12M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$13.27M
Owner & transaction history
Empire Wind 2 LLC · 1 yrs held
Empire Wind 2 LLC
since 2024
Last sale
$14.2M
7 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 Island Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Island Park 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
$14,555,000
ML approach
$10,120,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$13.27M
Range $11.94M – $14.60M · ±10% · vs last sale $14.21M (May 23 2022)
Last sale anchor
$14.21M
May 23 2022
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
$8,294 / 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
Tax billed
$26,796
Tax year 2023
Assessed value
$9,220
Assessed 2023
Previous assessed
$9,220
+0.0% YoY
Effective rate
290.63%
On assessed value
Assessed land
$4,960
Assessed improvement
$4,260
Total market value
$922,000
Applied tax rate
362.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1966
Construction
STEEL FRAME
Heating
YES
Buildings
2
Stories
1
Total area
1,600 SF
Lot
0.67 ac (29,316 SF)
APN
43-014-00-0111
UPID
US63-6267654
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
1966
Construction
STEEL FRAME
Heating
YES
Stories
1
Buildings
2
Lot
0.67 ac
Current owner
From public records · entity-resolved
Empire Wind 2 LLC
Entity
Mailing address
845 S WELLWOOD AVE #800, LINDENHURST, NY 11757-6236
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 22, 2024
—
Empire Wind 2 LLC
Empire Offshore Wind LLC
Deed
related
—
May 23, 2022
$14,206,356
Empire Offshore Wind LLC
Aenos Development Corp
Bargain And Sale Deed
—
Nov 19, 2021
—
Aenos Development Corp
15 Railroad Place LLC
Bargain And Sale Deed
$3,900,000 · Nubridge Commercial Lending
May 26, 2021
—
1 Railroad Place LLC
—
Deed
related
$2,300,000 · 29 Pops Funding LLC
Apr 21, 2020
—
15 Railroad Place LLC
—
Deed
related
$1,000,000 · Frank Michael Dagostino Supple
Mar 10, 2010
—
15 Railroad Place LLC
—
Deed Of Trust
related
$300,000 · Daniel Perla Associates LP
May 18, 2007
$875,000
15 Railroad Place LLC
Ulul Realty Corp
Grant Deed
$600,000 · Daniel Perla Associates LP
—
—
15 Railroad Place LLC
—
Loan Modification
related
$1,000,000 · Frank Michael Dagostino Supple
—
—
15 Railroad Place LLC
—
Deed Of Trust
related
$1,000,000 · Route 109 Land Corp
—
—
Daniel Perla Associates LP
—
Deed Of Trust
related
$625,000 · 15 Railroad Place 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.
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