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    1551 Kellum Pl Garden City, NY 11530
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    Property profile & analytics

    1551 Kellum Pl Garden City, NY 11530

    View on Map
    • Office buildings
    • 2,501 SF
    • 0.22 lot acres
    Off-Market
    Last Sale Jan 20, 2026
    $1,770,000
    Property ID
    US63-3511267
    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
    $1,640,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Ciotti & Damm, LLP / Law Firm
    • Bruce R. Bekritsky, Attorney at Law / Law Firm
    • The Law Offices of Joseph Urso / Law Firm
    • Ciotti, Damm & Kilgannon / Law Firm
    • Recovery Associate Inc / Accounting Firm / Loan Service

    Property Details for 1551 Kellum Pl

    Year built
    1954
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.22 lot acres
    Property size
    2,501 SF
    Property type
    Office buildings
    APN
    34-00D-00-0359
    APU
    3400D000359

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,380,000
      Market price range: $1.38M - $2.99M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,005,000
      Current use
      COMMERCIAL (GENERAL)
      $2,445,000
      Change: +22% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $2,195,000
      Change: +9% Conversion: Difficult
      RETAIL STORES
      $1,975,000
      Change: -2% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,645,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Garden City
    County
    Nassau
    State
    New York
    Longitude
    -73.6376
    Latitude
    40.7385
    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
    $21,962
    $1,807
    $6,270
    $8,077
    -
    $0.00
    $0.00
    $807,700

    Comparable in this City

    • Value Estimation
      $1,080,000
      1,752 SF

      1205 Franklin Ave

      OFFICE BUILDING • 1,752 SF
      1205 Franklin Ave, Garden City, NY 11530-1629
      View Details
    • Value Estimation
      $3,030,000
      10,351 SF

      1305 Franklin Ave

      OFFICE BUILDING • 10,351 SF
      1305 Franklin Ave, Garden City, NY 11530-1657
      View Details
    • Value Estimation
      $955,000
      8,413 SF

      1010 Franklin Ave

      OFFICE BUILDING • 8,413 SF
      1010 Franklin Ave, Garden City, NY 11530-2912
      View Details
    • Value Estimation
      $880,000
      4,052 SF

      1075 Franklin Ave

      OFFICE BUILDING • 4,052 SF
      1075 Franklin Ave, Garden City, NY 11530-2930
      View Details
    • Value Estimation
      $2,090,000
      3,390 SF

      999 Franklin Ave

      PROFESSIONAL BUILDING (MULTI-STORY) • 3,390 SF
      999 Franklin Ave, Garden City, NY 11530-2913
      View Details
    • Value Estimation by Request
      812 SF

      800 Gate Blvd

      OFFICE BUILDING • 812 SF
      800 Gate Blvd, Garden City, NY 11530-2105
      View Details

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      Prime location with high visibility and ample parking.
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    Similar Nearby for Lease

    • Contact for pricing
      293,930 SF

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      Office building with 293,930 square feet of space.
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    • Contact for pricing
      30,000 SF

      Garden City Three-Story Office Building

      Three-story office building in Garden City available for rent.
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      View Details
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      83,971 SF

      Renovated Office Space Available

      Recently renovated office spaces with modern amenities available for rent.
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      176,073 SF

      Garden City Office Space Available

      Office building with concierge, conferencing, and food service.
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    • Contact for pricing
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      Class A Office Building

      Three-story office building with 24/7 access and high traffic exposure.
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      View Details
    • Contact for pricing
      4,964 SF

      Prime Location Retail Opportunity

      High-visibility retail space in a premier shopping destination.
      902-950 Old Country Rd, Garden City, NY 11530
      View Details
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    Garden City, NY 11530
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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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