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Property profile & analytics
OFF-MARKET
Estimated value
$1,620,000
Retail space
17 Merrick Rd Freeport, NY 11520-3873
Entity Owned
14-yr Hold
Free & Clear
Property ID
US63-0281038
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,465 SF
Lot
0.18 ac (7,704 SF)
APN
62-053-00-0331
UPID
US63-0281038
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
-
Shirley White, MSW Counselor
-
Madeline Heit, LCSW Foster Care Service Social Service Agency
-
Danielle Centofranchi, LCSW, MA Foster Care Service Social Service Agency
-
VIM Clothing & Fashion Store (Bike/Boat/Book/etc) Store
-
Kathryn Messineo Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.36M
Comparable Approach
Comparable
$1.95M
Blend (final)
Blend
$1.62M
Owner & transaction history
Merrick Realty Assoc LLC · 14 yrs held
Merrick Realty Assoc LLC
since 2011
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.2M
+49.9%
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 Freeport submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Freeport 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,475,000
6.5%
$1,360,000
7%
$1,265,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,475,000
Current use
COMMERCIAL (GENERAL)
$2,210,000
Change: +50% · Conversion: Easy
WAREHOUSE, STORAGE
$1,380,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$1.62M
Range $1.46M – $1.78M · ±10%
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
$363 / 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
$71,334
Tax year 2023
Assessed value
$24,122
Assessed 2023
Previous assessed
$19,966
+20.8% YoY
Effective rate
295.72%
On assessed value
Assessed land
$2,080
Assessed improvement
$22,042
Total market value
$2,412,200
Applied tax rate
7.0000
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 space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Total area
4,465 SF
Lot
0.18 ac (7,704 SF)
APN
62-053-00-0331
UPID
US63-0281038
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
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$2.2M
WAREHOUSE, STORAGE
Est. value
$1.4M
RETAIL STORES Current
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1962
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
0.18 ac
Current owner
From public records · entity-resolved
Merrick Realty Assoc LLC
Entity
Free & Clear · 14 yrs held
Mailing address
16401 JAMAICA AVE, JAMAICA, NY 11432-4913
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 8, 2011
$975,000
Merrick Realty Assoc LLC
Jp Morgan Chase Bk
Grant Deed
—
Sep 1, 2011
$850,000
Jpmorgan Chase Bank Natl Assn
Washington Mutual Bk
Grant Deed
related
—
Nov 15, 1993
$800,000
Key Bank Of New York
Resolution,trsut
Grant Deed
related
—
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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