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    2431 Grand Ave Baldwin, NY 11510-3219
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    Property profile & analytics

    2431 Grand Ave, Baldwin, NY 11510-3219

    View on Map
    • Investment properties
    • 1,692 SF
    • 0.06 lot acres
    Off-Market
    Property ID
    US63-5883634
    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
    $690,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Blue Sky Services LLC / Home Inspector
    • Grand Palace Barber Shop / Barber Shop

    Property Details for 2431 Grand Ave

    Year built
    1899
    Construction
    FRAME
    Lot size
    0.06 lot acres
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    54-102-00-0120
    APU
    54102000120

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 15, 2008 $880,000 Vmsr Enterprise INC Shirzay Realty Corp Grant Deed $425k · Hsbc Bank USA
    — — Vmsr Ent INC — Deed Of Trust · related $7k · Td Bank NA

    Description

    This exceptional mixed-use property at 2431 Grand Ave, Baldwin, NY, presents a lucrative investment opportunity. The building comprises four units: two retail spaces and two apartments, all currently leased to reliable tenants. One retail space is a sizable barbershop, and the other is a smaller organic grocery store. The current rental income is below market value, offering significant potential for increased revenue through rent adjustments. The property boasts an enviable location on the corner of Merrick Road and Grand Avenue, a high-traffic intersection with two lanes in each direction on both streets. This ensures excellent visibility and accessibility for the retail businesses. The surrounding area is vibrant and features a diverse mix of businesses and amenities, including the Baldwin Library, a pool hall, NOVI Restaurant, Capital One Bank, Gala Fresh Supermarket, other retail stores, and Kitty's Salon. The Long Island Rail Road is conveniently located just one block away, enhancing accessibility for both residents and customers. Ample parking is available, with a large municipal lot directly behind the building, as well as plentiful street parking and a bus stop directly in front. This property offers a compelling combination of strong existing income, significant upside potential, and a prime location in a thriving community. The building's strategic placement and the current tenant occupancy make this an attractive investment for those seeking a stable and potentially high-growth portfolio addition.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $883,000
      Market price range: $420k - $883k
      AI Estimate
      $500,000
      Market price range: $58.5k - $508k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $630,000
      Current use
      AUTO REPAIR, GARAGE
      $1,110,000
      Change: +76% Conversion: Difficult
      RETAIL STORES
      $965,000
      Change: +53% Conversion: Easy
      WAREHOUSE, STORAGE
      $850,000
      Change: +35% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Baldwin
    County
    Nassau
    State
    New York
    Longitude
    -73.6119
    Latitude
    40.651
    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
    $40,866
    $561
    $4,492
    $5,053
    -
    $0.00
    $0.00
    $505,300

    Comparable in this City

    • Value Estimation by Request
      1,347 SF

      792 Merrick Rd

      STORE/OFFICE (MIXED USE)
      792 Merrick Rd, Baldwin, NY 11510-3523
      View Details
    • Value Estimation
      $895,000
      4,144 SF

      486-492 Merrick Rd

      STORE/OFFICE (MIXED USE)
      486-492 Merrick Rd, Baldwin, NY 11510
      View Details
    • Value Estimation
      $2,315,000
      10,458 SF

      806 Sunrise Hwy

      STORE/OFFICE (MIXED USE)
      806 Sunrise Hwy, Baldwin, NY 11510-3374
      View Details
    • Value Estimation by Request
      1,520 SF

      2152 Grand Ave

      STORE/OFFICE (MIXED USE)
      2152 Grand Ave, North Baldwin, NY 11510-2949
      View Details
    • Value Estimation
      $695,000
      2,800 SF

      960 Atlantic Ave

      STORE/OFFICE (MIXED USE)
      960 Atlantic Ave, Baldwin, NY 11510-4265
      View Details
    • Value Estimation by Request
      2,240 SF

      2045 Grand Ave

      STORE/OFFICE (MIXED USE)
      2045 Grand Ave, North Baldwin, NY 11510-2915
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Mixed-Use Property in Baldwin

      Mixed-use property in the heart of Baldwin, Nassau County.
      986 Church St, Baldwin, NY 11510
      View Details
    • $799,999

      Mixed-Use Property in Baldwin

      Mixed-use property with residential and retail income potential.
      2074 Grand Ave, Baldwin, NY 11510
      View Details
    • Contact for pricing
      11,700 SF

      Mixed-Use Building For Sale

      Two-story building with retail stores and apartments.
      2372 Grand Ave, Baldwin, NY 11510
      View Details
    • $799,000

      Retail Property with Upside Potential

      Retail property with 100% collectable rents and updated fire codes.
      1951-1953 Grand Ave, Baldwin, NY 11510
      View Details

    Similar Nearby for Lease

    • $38 SF/Yr
      10,102 SF

      Renovated Office Building Near LIRR

      Fully renovated office building with excellent accessibility and flexible layout.
      590 Sunrise Hwy, Baldwin, NY 11510
      View Details
    • $7,000 /Mo
      6,033 SF

      Auto Repair Facility For Lease

      Turnkey auto repair facility with parking in high-visibility location.
      1599 Grand Ave, North Baldwin, NY 11510
      View Details
    • Contact for pricing

      Updated Office Space For Rent

      Updated office space with ample parking and elevator.
      1000 Atlantic Ave, Baldwin, NY 11510
      View Details
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    2431 Grand Ave
    Baldwin, NY 11510-3219
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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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