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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    241 Broadway, Unit 275 Lynbrook, NY 11563-3243

    • Retail space
    • 4,605 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimations
    $1,180,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2280233
    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

    • Panorama Optical / Ophthalmologist / (Bike/Boat/Book/etc) Store

    Property Details for 241 Broadway

    Year built
    1949
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.17 lot acres
    Property size
    4,605 SF
    Property type
    Retail space
    APN
    42-133-00-0045
    APU
    42133000045

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,520,000
      6.5%
      $1,405,000
      7%
      $1,305,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,303,000
      Market price range: $1.18M - $2.58M
      AI Estimate
      $838,000
      Market price range: $144k - $1.87M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,590,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lynbrook
    County
    Nassau
    State
    New York
    Longitude
    -73.6789
    Latitude
    40.6531
    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
    $31,670
    $1,658
    $3,860
    $5,518
    -
    $0.00
    $0.00
    $551,800

    Comparable in this City

    • Value Estimation by Request
      1,400 SF

      133 Lakeview Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,400 SF
      133 Lakeview Ave, Lynbrook, NY 11563-1742
      View Details
    • Value Estimation
      $635,000
      2,357 SF

      47-49 Atlantic Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,357 SF
      47-49 Atlantic Ave, Lynbrook, NY 11563
      View Details
    • Value Estimation
      $1,130,000
      4,311 SF

      40 Atlantic Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,311 SF
      40 Atlantic Ave, Lynbrook, NY 11563-3024
      View Details
    • Value Estimation by Request
      1,340 SF

      148 Scranton Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,340 SF
      148 Scranton Ave, Lynbrook, NY 11563-2828
      View Details
    • Value Estimation by Request
      2,300 SF

      Hendrickson Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,300 SF
      Hendrickson Ave, Lynbrook, NY 11563
      View Details
    • Value Estimation
      $1,350,000
      912 SF

      325 Sunrise Hwy

      RETAIL STORES (PERSONAL SERVICES) • 912 SF
      325 Sunrise Hwy, Lynbrook, NY 11563-3033
      View Details

    Similar Nearby for Sale

    • $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
    • $250,000

      Automotive Repair Shop For Sale

      Fully equipped automotive shop with inspection and repair capabilities.
      675 Merrick Rd, Lynbrook, NY 11563
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    • $139,000

      Pizzeria For Sale in Lynbrook

      Pizzeria for sale on busy Merrick Rd, Lynbrook.
      433 Merrick Rd, Lynbrook, NY 11563
      View Details
    • $3,750,000
      9,082 SF

      Lynbrook Commercial Building For Sale

      Fully occupied, one-story commercial building with long-term leases and parking.
      79-87 Sunrise Hwy, Lynbrook, NY 11563
      View Details
    • $2,500,000
      0.24 Acres

      Corner Office Building with Parking

      10,000 SF office building with on-site parking.
      337-343 -Blake Merrick & Blake Rd, Lynbrook, NY 11563
      View Details
    • $2,200,000
      9,431 SF

      Hempstead Commercial Investment Opportunity

      High-Traffic Retail Building, Excellent Income
      32 Atlantic Ave, Hempstead, NY 11563
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,000 SF

      Lynbrook Retail Space Available

      3,000 SF retail space for lease in Lynbrook, NY.
      201-203 Sunrise Hwy, Lynbrook, NY 11563
      View Details
    • $3,000 /Mo
      9,701 SF

      Retail Space in Lynbrook

      High-visibility retail space in the heart of Lynbrook.
      118 Broadway, 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
    • Contact for pricing
      58,967 SF

      Lynbrook Office & Retail Space

      Prime Nassau County location, multiple suites available.
      381 Sunrise Hwy, Lynbrook, NY 11563
      View Details
    • Contact for pricing
      2,314 SF

      Retail Space in Lynbrook Village

      Retail space for rent in the Village of Lynbrook.
      484 Merrick Rd, Lynbrook, NY 11563
      View Details
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    241 Broadway, Unit 275
    Lynbrook, NY 11563-3243
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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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