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Property profile & analytics
OFF-MARKET
Estimated value
$3,805,000
Investment properties
2201 Merrick Rd 2209 Merrick, NY 11566-4752
Entity Owned
32-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US63-2354308
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1943
Total area
6,454 SF
Lot
0.79 ac (34,412 SF)
APN
56-194-00-0761
UPID
US63-2354308
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
-
Star Smiles Orthodontics Dental Office
-
Dr. Christopher Paladino Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.81M
Owner & transaction history
Galleria Associates · 32 yrs held
Galleria Associates
since 1993
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.7M
+37.1%
Neighborhood: shopping center
$5.7M
+35.5%
Office building
$4.6M
+9.0%
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 Merrick submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Merrick 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$4,180,000
Current use
RESTAURANT
$5,730,000
Change: +37% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$5,660,000
Change: +36% · Conversion: Difficult
OFFICE BUILDING
$4,555,000
Change: +9% · Conversion: Easy
AUTO REPAIR, GARAGE
$4,240,000
Change: +2% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$3,895,000
Change: -7% · Conversion: Moderate
RETAIL STORES
$3,680,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$3.81M
Range $3.42M – $4.19M · ±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
$590 / 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
$147,686
Tax year 2023
Assessed value
$28,875
Assessed 2023
Previous assessed
$20,588
+40.3% YoY
Effective rate
511.47%
On assessed value
Assessed land
$10,836
Assessed improvement
$18,039
Total market value
$2,887,500
Applied tax rate
126.0000
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
1943
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
6,454 SF
Lot
0.79 ac (34,412 SF)
APN
56-194-00-0761
UPID
US63-2354308
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
COMMERCIAL (GENERAL) Current
Est. value
$4.2M
RESTAURANT
Est. value
$5.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.7M
OFFICE BUILDING
Est. value
$4.6M
AUTO REPAIR, GARAGE
Est. value
$4.2M
INDUSTRIAL (GENERAL)
Est. value
$3.9M
RETAIL STORES
Est. value
$3.7M
COMMERCIAL (GENERAL) Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
RETAIL STORES
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
1943
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Lot
0.79 ac
Current owner
From public records · entity-resolved
Galleria Associates
Entity
Mailing address
240 CENTRAL PARK S, NEW YORK, NY 10019-1457
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1993
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 29, 2022
—
Galleria Associates LLC
—
Deed
related
$3,300,000 · Ameritas Life Insurance Corp
Feb 11, 2022
—
Galleria Associates LLC
—
Deed
related
$2,204,013 · Ameritas Life Insurance Corp
Dec 17, 2018
—
Galleria Assocs
—
Loan Modification, Consolidation And Extension
related
$1,150,000 · Jp Morgan Chase Bk
Nov 19, 1993
$1,238,000
Galleria Associates
Columbia Federal
Grant Deed
$990,400
—
—
Galleria Assocs
—
Deed Of Trust
related
$50,687 · Jp Morgan Chase Bk
—
—
Galleria Associates LP
—
Deed Of Trust
related
$292,189 · New York Community Bank
—
—
Galleria Associates LP
—
Deed Of Trust
related
$1,250,000 · New York Community Bank
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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