Sign Up Successful!
You now have access to more from Realmo!
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

    242 Central Ave, Unit 252 Valley Stream, NY 11580-3130

    • Investment properties
    • 6,158 SF
    • 0.27 lot acres
    OFF-MARKET
    Last Sale
    Jan 22, 2020
    Value Estimations
    $2,760,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3427255
    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

    • Kerryman's Corner Sports Bar / Bar

    Property Details for 242 Central Ave

    Year built
    1948
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.27 lot acres
    Property size
    6,158 SF
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    37-U06-00-0044
    APU
    37U06000044

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,985,000
      Current use
      OFFICE BUILDING
      $4,345,000
      Change: +9% Conversion: Easy
      AUTO REPAIR, GARAGE
      $4,045,000
      Change: +2% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $3,715,000
      Change: -7% Conversion: Moderate
      RETAIL STORES
      $3,555,000
      Change: -11% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Valley Stream
    County
    Nassau
    State
    New York
    Longitude
    -73.7098
    Latitude
    40.6746
    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
    $63,068
    $2,885
    $6,271
    $9,156
    -
    $0.00
    $0.00
    $915,600

    Comparable in this City

    • Value Estimation by Request
      0.00 Acres

      Merrick Rd

      STORE/OFFICE (MIXED USE) • 0.00 Acres
      Merrick Rd, Valley Stream, NY 11580
      View Details
    • Value Estimation by Request
      2,176 SF

      743-745 Merrick Rd

      STORE/OFFICE (MIXED USE) • 2,176 SF
      743-745 Merrick Rd, Valley Stream, NY 11580
      View Details
    • Value Estimation
      $2,680,000
      11,893 SF

      201 Merrick Rd

      STORE/OFFICE (MIXED USE) • 11,893 SF
      201 Merrick Rd, Valley Stream, NY 11580-5952
      View Details
    • Value Estimation
      $610,000
      1,789 SF

      27 Stringham Ave

      STORE/OFFICE (MIXED USE) • 1,789 SF
      27 Stringham Ave, Valley Stream, NY 11580-3922
      View Details
    • Value Estimation by Request
      3,100 SF

      297 Central Ave

      STORE/OFFICE (MIXED USE) • 3,100 SF
      297 Central Ave, Valley Stream, NY 11580-2541
      View Details
    • Value Estimation
      $1,430,000
      4,040 SF

      31 Central Ave

      STORE/OFFICE (MIXED USE) • 4,040 SF
      31 Central Ave, Valley Stream, NY 11580-3818
      View Details

    Similar Nearby for Sale

    • $799,000
      Pending

      Valley Stream Duplex Investment Opportunity

      Two-family duplex in Valley Stream, NY with tenant.
      66 Gates Ave, Valley Stream, NY 11580
      View Details
    • $995,000

      Mixed-Use Property with Office and Apartment

      Mixed-use property featuring office space, apartment, and finished basement.
      95 Franklin Ave, Valley Stream, NY 11580
      View Details
    • $769,000
      3,420 SF

      Valley Stream Commercial Investment Opportunity

      Fully leased three-unit commercial building on a high-visibility corner.
      120 Rockaway Ave, Valley Stream, NY 11580
      View Details
    • $1,500,000

      Mixed-Use Building in Downtown

      6,120 SF mixed-use building in a prime location.
      214 Rockaway Ave, Valley Stream, NY 11580
      View Details
    • $1,100,000
      Pending

      Valley Stream Commercial Opportunity

      Commercial property for sale in Valley Stream, New York.
      34 E Merrick Rd, Valley Stream, NY 11580
      View Details
    • $1,125,000

      Charming Tudor Home For Sale

      Legal two-family Tudor home, ideal for investment or multi-generational living.
      68 Fir St, Valley Stream, NY 11580
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      75,000 SF

      Merrick Road Office Building, Lynbrook

      Prime Office & Medical Space Available, Immediate Occupancy
      303 Merrick Rd, Valley Stream, NY 11580
      View Details
    • $3,500 /Mo

      Spacious Apartment with Modern Amenities

      Updated 3-bedroom apartment with heat included, near transportation.
      58 W Mineola Ave, Valley Stream, NY 11580
      View Details
    • $2,000 /Mo
      2,692 SF

      Renovated Office Space Near LIRR

      Renovated office space in Valley Stream, utilities included.
      5 Sunrise Plz Unit, Valley Stream, NY 11580
      View Details
    • $33 SF/Yr
      49,000 SF

      Prime Valley Stream Office Space

      6-Story Office Building, Newly Renovated
      99 Hawthorne Ave, Valley Stream, NY 11580
      View Details
    • $1,500 /Mo

      New Retail Space in Hempstead

      Brand new retail space available in the heart of Hempstead.
      69 Main St, Hempstead, NY 11580
      View Details
    • $1,000 /Mo
      500 SF

      Valley Stream Office Space Available

      Second-floor office space for rent in Valley Stream, New York.
      475 W Merrick Rd, Valley Stream, NY 11580
      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.
    242 Central Ave, Unit 252
    Valley Stream, NY 11580-3130
    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.