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    221 South St Oyster Bay, NY 11771
    Property profile & analytics

    221 South St Oyster Bay, NY 11771

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    • Investment properties
    • 11,875 SF
    • 0.86 lot acres
    For Lease
    $3,795,000
    View Listing →
    Oyster Bay Retail/Office Space For Lease
    $3,795,000

    Oyster Bay Retail/Office Space

    Retail and office spaces available for lease in Oyster Bay.

    221 South St, Oyster Bay, NY 11771
    View Listing
    Property ID
    US63-2352267
    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
    $3,795,000
    Cap Rate Potential
    4.2%
    Investment properties
    Location Intelligence

    Current Use by Public Records

    • Water Damage Removal Long Island / Hardware & Home Improvement / Construction Company

    Property Details for 221 South St

    Year built
    1960
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.86 lot acres
    Property size
    11,875 SF
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    27-024-00-0017
    APU
    27024000017

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,915,000
      ML approach
      $4,575,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,730,000
      6.5%
      $2,520,000
      7%
      $2,340,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,347,000
      Market price range: $3.59M - $12.7M

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

    Location Insight

    • Map
    • Local Demand
    City
    Oyster Bay
    County
    Nassau
    State
    New York
    Longitude
    -73.5312
    Latitude
    40.8687
    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
    $98,598
    $11,930
    $6,671
    $18,601
    -
    $0.00
    $0.00
    $1,860,100

    Comparable in this City

    • Value Estimation by Request
      0.03 Acres

      115 Ss St

      STORE/OFFICE (MIXED USE) • 0.03 Acres
      115 Ss St, Oyster Bay, NY 11771-2291
      View Details
    • Value Estimation
      $790,000
      3,135 SF

      350 Lexington Ave

      STORE/OFFICE (MIXED USE) • 3,135 SF
      350 Lexington Ave, Oyster Bay, NY 11771-2123
      View Details
    • Value Estimation by Request
      1,480 SF

      45 Main St

      STORE/OFFICE (MIXED USE) • 1,480 SF
      45 Main St, Oyster Bay, NY 11771-2215
      View Details
    • Value Estimation
      $555,000
      3,500 SF

      294 Ss St

      STORE/OFFICE (MIXED USE) • 3,500 SF
      294 Ss St, Oyster Bay, NY 11771-2920
      View Details
    • Value Estimation
      $1,230,000
      5,850 SF

      36 Audrey Ave

      STORE/OFFICE (MIXED USE) • 5,850 SF
      36 Audrey Ave, Oyster Bay, NY 11771-1548
      View Details
    • Value Estimation
      $525,000
      1,845 SF

      47 Main St

      STORE/OFFICE (MIXED USE) • 1,845 SF
      47 Main St, Oyster Bay, NY 11771-2215
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,230 SF

      Oyster Bay Mixed-Use Property

      Renovated mixed-use property with restaurant and apartment in Oyster Bay.
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      View Details
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      Centre Island Land Opportunity

      Land available on Centre Island Road, Nassau County.
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      Centre Island Waterfront Land Parcel

      Rare 3-acre waterfront property with 1500 feet of beachfront.
      224 Centre Island Rd, Centre Island, NY 11771
      View Details
    • $1,750,000
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      Oyster Bay Cove Land Parcel

      4.97 acre parcel in Oyster Bay Cove, NY.
      B-34 Yellow Cote Rd, Oyster Bay Cove, NY 11771
      View Details
    • $599,000
      0.23 Acres

      Land in Mill Neck Estates

      Land with beach and mooring rights in Mill Neck.
      ## Connecticut Vw Dr, Mill Neck, NY 11771
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    • $1,199,000
      0.19 Acres

      Renovated Duplex in Oyster Bay

      Newly renovated duplex with modern amenities in a prime location.
      75 Anstice St, Oyster Bay, NY 11771
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    Similar Nearby for Lease

    • Contact for pricing

      Oyster Bay Retail/Office Space

      Retail and office spaces available for lease in Oyster Bay.
      221 South St, Oyster Bay, NY 11771
      View Details
    • $33 SF/Yr
      18,440 SF

      Unique Oyster Bay Commercial Building

      Versatile 18,440 SF building suitable for various uses.
      85 Pine Hollow Rd, Oyster Bay, NY 11771
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Oyster Bay, NY.
      249-273 Pine Hollow Rd, Oyster Bay, NY 11771
      View Details
    • $30 SF/Yr

      Oyster Bay Village Office Suite

      Second-floor office suite in Oyster Bay, full-service lease.
      3-5 Audrey Ave, Oyster Bay, NY 11771
      View Details
    • New
      $1,200 /Mo

      Historic Oyster Bay Office Suite

      Charming office suite in historic building, prime Oyster Bay location.
      70 E Main St, Oyster Bay, NY 11771
      View Details
    View Listing
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    221 South St
    Oyster Bay, NY 11771
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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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