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    Property profile & analytics

    250 S Service Rd Roslyn Heights, NY 11577

    • Retail space
    • 2,055 SF
    • 2.28 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1931338
    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

    • SoulCycle Roslyn / Indoor Cycling
    • Villency Design Group / Industrial Design Company
    • SkinSpirit Roslyn Heights / Medical Spa / Facial Spa
    • [solidcore] / Pilates Studio / Fitness Center
    • Sandra Torres / Emergency Care Physician

    Property Details for 250 S Service Rd

    Year built
    1967
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.28 lot acres
    Property size
    2,055 SF
    Property type
    Retail space
    APN
    07-00M-00-0768
    APU
    0700M000768

    Description

    This exceptional retail shopping center in Nassau County offers a unique investment opportunity. Boasting a total of 41,547 square feet, the property features 134 parking spaces, ensuring ample convenience for customers. The center benefits from a highly visible location with 600 feet of frontage directly facing the Long Island Expressway, boasting an average daily traffic count exceeding 182,000 vehicles. This prime location provides tremendous branding exposure for tenants. Further enhancing its accessibility, an additional access easement on Willis Avenue offers an extra opportunity for prominent signage. The center is currently anchored by established and successful businesses, including ProHealth and Soulcycle, creating a strong and desirable tenant mix. Multiple units are available, ranging from a minimum of 392 square feet to a maximum contiguous space of 4,800 square feet, with a total of 5,192 square feet currently vacant. The property sits on a substantial 99,360 square foot lot, providing ample space and potential for future expansion or development. This is an exceptional opportunity to secure a retail space in a high-traffic, highly visible location with strong existing tenants. Easy access to the Long Island Expressway (both east and westbound) ensures convenient access for customers and employees alike.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,941,000
      Market price range: $643k - $1.94M
      AI Estimate
      $929,000
      Market price range: $40.5k - $929k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,170,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,805,000
      Change: +54% Conversion: Moderate
      OFFICE BUILDING
      $1,450,000
      Change: +24% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,350,000
      Change: +15% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,330,000
      Change: +14% Conversion: Easy
      WAREHOUSE, STORAGE
      $1,035,000
      Change: -12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Roslyn Heights
    County
    Nassau
    State
    New York
    Longitude
    -73.6521
    Latitude
    40.7836
    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
    $314,325
    $23,646
    $36,628
    $60,274
    -
    $0.00
    $0.00
    $6,027,400

    Comparable in this City

    • Value Estimation by Request
      10,835 SF

      2644 Lincoln Ave

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    • Value Estimation
      $1,080,000
      1,620 SF

      54 Mineola Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,620 SF
      54 Mineola Ave, Roslyn Heights, NY 11577-1036
      View Details
    • Value Estimation by Request
      2,000 SF

      Mineola Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,000 SF
      Mineola Ave, Roslyn Heights, NY 11577
      View Details
    • Value Estimation by Request
      10,619 SF

      281-301 Warner Ave

      Restaurants • 10,619 SF
      281-301 Warner Ave, Roslyn, NY 11577
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    • Value Estimation by Request
      376 SF

      190 Mineola Ave

      RETAIL STORES (PERSONAL SERVICES) • 376 SF
      190 Mineola Ave, Roslyn Heights, NY 11577-2093
      View Details
    • Value Estimation
      $2,055,000
      6,668 SF

      55 Mineola Ave, Unit 63

      RETAIL STORES (PERSONAL SERVICES) • 6,668 SF
      55 Mineola Ave, Roslyn Heights, NY 11577-1035
      View Details

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    Similar Nearby for Lease

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      Retail Space Near Roslyn Station

      Retail spaces available in new mixed-use development near train station.
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      Roslyn Heights Retail & Wellness

      Retail and wellness center with parking in Roslyn Heights.
      250 S Service Rd, Roslyn Heights, NY 11577
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      2,000 SF

      Restaurant Space Available For Rent

      2nd Generation Restaurant Space available for rent.
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      30,000 SF

      Roslyn Heights Retail Center

      Prime 30,000 SF Retail Space Available
      361 Willis Ave, Roslyn Heights, NY 11577
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    • $45 SF/Yr
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      Roslyn Heights Office Building

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      2,000 SF

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      Prime 2,000 SF Retail Space in Roslyn Heights, NY
      91 Mineola Ave, Roslyn, NY 11577
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    250 S Service Rd
    Roslyn Heights, NY 11577
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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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