Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    228 Merrick Rd Lynbrook, NY 11563-2622

    • Distribution centers
    • 3,200 SF
    • 0.27 lot acres
    OFF-MARKET
    Value Estimations
    $2,005,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3678614
    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.

    Current Use by Public Records

    • S.J. Electric, Inc / General Contractor
    • S J Electric / Electrical Service / General Contractor
    • Elemco Services Inc / Electrical Service / General Contractor

    Property Details for 228 Merrick Rd

    Year built
    1923
    Lot size
    0.27 lot acres
    Property size
    3,200 SF
    Property type
    Distribution centers
    APN
    38-092-00-0101
    APU
    38092000101

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,610,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $2,805,000
      Change: +74% Conversion: Moderate
      OFFICE BUILDING
      $2,260,000
      Change: +40% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,105,000
      Change: +31% Conversion: Easy
      COMMERCIAL (GENERAL)
      $2,070,000
      Change: +29% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lynbrook
    County
    Nassau
    State
    New York
    Longitude
    -73.6672
    Latitude
    40.6576
    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
    $34,119
    $3,711
    $3,642
    $7,353
    -
    $0.00
    $0.00
    $735,300

    Comparable in this City

    • Value Estimation
      $1,185,000
      7,200 SF

      27-29 Blake Ave

      DISTRIBUTION WAREHOUSE • 7,200 SF
      27-29 Blake Ave, Lynbrook, NY 11563
      View Details
    • Value Estimation
      $955,000
      3,528 SF

      160 Denton Ave

      DISTRIBUTION WAREHOUSE • 3,528 SF
      160 Denton Ave, Lynbrook, NY 11563-2602
      View Details
    • Value Estimation
      $875,000
      2,916 SF

      43 Harriet Pl

      DISTRIBUTION WAREHOUSE • 2,916 SF
      43 Harriet Pl, Lynbrook, NY 11563-2619
      View Details
    • Value Estimation
      $545,000
      3,000 SF

      47 Harriet Pl

      DISTRIBUTION WAREHOUSE • 3,000 SF
      47 Harriet Pl, Lynbrook, NY 11563-2619
      View Details
    • Value Estimation by Request
      1,500 SF

      101 Horton Ave

      DISTRIBUTION WAREHOUSE • 1,500 SF
      101 Horton Ave, Lynbrook, NY 11563-2329
      View Details
    • Value Estimation
      $4,055,000
      25,672 SF

      96 Merrick Rd

      DISTRIBUTION WAREHOUSE • 25,672 SF
      96 Merrick Rd, Lynbrook, NY 11563-2739
      View Details

    Similar Nearby for Sale

    • $929,000
      Pending

      Two-Family Home in Lynbrook, NY

      Legal two-family home with a two-car garage in Lynbrook.
      12 Roxy Pl, Lynbrook, NY 11563
      View Details
    • Contact for pricing
      1,100 SF

      Turn-Key Dental Office Opportunity

      Fully operational dental office with equipment included, move-in ready.
      210 Atlantic Ave, Lynbrook, NY 11563
      View Details
    • New
      $175,000

      Turn-Key Lynbrook Office Space

      Renovated ground floor office space in prime Lynbrook location.
      504 Merrick Rd, Lynbrook, NY 11563
      View Details
    • $1,150,000
      5,373 SF

      Retail Space on Merrick Road

      Retail property for sale on busy Merrick Road.
      581 Merrick Rd, Lynbrook, NY 11563
      View Details
    • $285,000
      1,100 SF

      Turn-Key Dental Office in Lynbrook

      Fully equipped, renovated dental office in accessible medical co-op.
      210 Atlantic Ave, Lynbrook, NY 11563
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      9,200 SF

      Office/Warehouse Space in Lynbrook

      8,700 Sqft office/warehouse space near Sunrise Hwy and transportation.
      148-150 Vincent Ave, Lynbrook, NY 11563
      View Details
    • $1,000 /Mo
      10,241 SF

      Prime Lynbrook Office Space

      Office and warehouse space for lease in Lynbrook, NY.
      13 Hendrickson Ave, Lynbrook, NY 11563
      View Details
    • $3,000 /Mo
      9,701 SF

      Prime Retail Space in Lynbrook

      High-visibility retail space in Lynbrook with strong traffic.
      118 Broadway, Lynbrook, NY 11563
      View Details
    • $30 SF/Yr

      Sunrise Highway Restaurant Space

      Restaurant space for rent with full liquor license.
      428 Sunrise Hwy, Lynbrook, NY 11563
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space Near Lynbrook LIRR

      Retail space available in mixed-use building near Lynbrook LIRR.
      1 Langdon Pl, Lynbrook, NY 11563
      View Details
    • Contact for pricing
      3,300 SF

      Lynbrook Retail/Medical Space Available

      1,100 SF inline space with over 100' frontage.
      935 Sunrise Hwy, Lynbrook, NY 11563
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    228 Merrick Rd
    Lynbrook, NY 11563-2622
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!