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    249 Old Country Rd Carle Place, NY 11514
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    249 Old Country Rd, Carle Place, NY 11514

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    • Investment properties
    • 2,786 SF
    • 0.08 lot acres
    For Lease
    $351/Mo
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    Retail Space on Old Country For Lease
    $351/Mo
    2,786 SF

    Retail Space on Old Country

    Retail space with high traffic and showroom potential.

    249 Old Country Rd, Carle Place, NY 11514
    View Listing
    Property ID
    US63-2882631
    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
    $750,000
    Cap Rate Potential
    5.1%
    Investment properties
    Location Intelligence

    Current Use by Public Records

    • Long Island Commercial Doors / Hardware & Home Improvement / Production Facility
    • Scrubs & Beyond / (Bike/Boat/Book/etc) Store

    Property Details for 249 Old Country Rd

    Year built
    1954
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.08 lot acres
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    10-046-00-0137
    APU
    10046000137

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 11, 2024 $750,000 Two Forty Nine Old Country Corp L&m Real Estate Associates I LLC Bargain And Sale Deed $525k · L&m Real Estate Associaties I LLC
    Mar 12, 2012 — L & M Real Estate Assocs I LLC L & M Realty A Ptshp Quit Claim Deed · related —

    Description

    This exceptional retail showroom opportunity is located at 249 Old Country Road, Carle Place, NY 11514, in Nassau County. The property boasts a total of 2,786 square feet of space, all currently vacant and ready for immediate occupancy. Built in 1954, this single-story building sits on a 3,565 square foot lot and offers four parking spaces. The zoning is designated as Retail, making it ideal for a variety of uses. The property's strategic location at the signaled intersection of Old Country Road and Byrd Avenue, near the Meadowbrook Parkway exit and Roosevelt Field Mall, provides unparalleled visibility and accessibility. With an estimated 36,000 vehicles passing daily, this location offers exceptional exposure for a showroom, billboard, or high-end retail business. The ample square footage and available parking also make it suitable for boutique retail ventures. The property's single-tenant occupancy allows for complete control and customization. This is a rare opportunity to secure a high-traffic retail space in a prime Nassau County location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $750,000
      ML approach
      $750,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $640,000
      6.5%
      $590,000
      7%
      $550,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Carle Place
    County
    Nassau
    State
    New York
    Longitude
    -73.6105
    Latitude
    40.7441
    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
    $33,130
    $1,283
    $2,502
    $3,785
    -
    $0.00
    $0.00
    $378,500

    Comparable in this City

    • Value Estimation
      $680,000
      1,500 SF

      265 Gln Cv Rd

      STORE/OFFICE (MIXED USE)
      265 Gln Cv Rd, Carle Place, NY 11514-1207
      View Details
    • Value Estimation
      $2,965,000
      14,900 SF

      385 Old Country Rd

      STORE/OFFICE (MIXED USE)
      385 Old Country Rd, Carle Place, NY 11514-2122
      View Details
    • Value Estimation
      $510,000
      1,900 SF

      349-351 Westbury Ave

      STORE/OFFICE (MIXED USE)
      349-351 Westbury Ave, Carle Place, NY 11514
      View Details
    • Value Estimation
      $545,000
      3,000 SF

      580 Mineola Ave

      STORE/OFFICE (MIXED USE)
      580 Mineola Ave, Carle Place, NY 11514-1762
      View Details
    • Value Estimation
      $3,760,000
      22,627 SF

      230 Gln Cv Rd, Unit 240

      STORE/OFFICE (MIXED USE)
      230 Gln Cv Rd, Carle Place, NY 11514-1224
      View Details
    • Value Estimation
      $610,000
      3,390 SF

      530 Westbury Ave

      STORE/OFFICE (MIXED USE)
      530 Westbury Ave, Carle Place, NY 11514-1740
      View Details

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      Retail Space in Carle Place

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      Retail Space For Lease

      Retail space available for lease.
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      Retail Space on Old Country

      Retail space with high traffic and showroom potential.
      249 Old Country Rd, Carle Place, NY 11514
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    View Listing
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    Carle Place, NY 11514
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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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