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Property profile & analytics
OFF-MARKET
Estimated value
$550,000
Retail space
279 Hillside Ave Williston Park, NY 11596-2204
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US63-5250925
Property summary
AI-generated overview
This exceptional 1,240 square foot retail property, located at 279 Hillside Ave in Williston Park, NY 11596, presents a unique investment opportunity. Currently operating as a successful nightclub and hookah lounge with a charming outdoor patio, this single-story building offers significant potential for various uses. Completely renovated in 2015, the interior is in gorgeous condition. The property sits on a 2,038 square foot lot and features a full basement. The current tenant has occupied the space for seven years with a lease in place, however, the landlord retains the option to terminate the lease upon sale. Zoned for business use, this versatile space is ideal for a wine bar, cigar bar, sports bar, smoke shop, or other retail or office ventures. The high-traffic location ensures excellent visibility and accessibility. Annual property taxes are $11,679. This owner-user opportunity offers a compelling blend of established income and future upside. The property's attractive features and prime location make it a highly desirable asset in the thriving Williston Park market. Serious inquiries only.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1926
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,240 SF
Lot
0.05 ac (2,038 SF)
APN
09-274-00-0705
UPID
US63-5250925
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Le Caire Lounge Bar & Pub (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$550k
CAP Approach
CAP
$380k
Comparable Approach
Comparable
$505k
Blend (final)
Blend
$550k
Owner & transaction history
Ramas 808 LLC · 2 yrs held
Ramas 808 LLC
since 2024
Last sale
$550,000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$875,000
+23.8%
Auto repair, garage
$815,000
+15.3%
Commercial (general)
$805,000
+13.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Williston Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Williston Park submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$550,000
ML approach
$550,000
CAP Approach
CAP Return
Estimation
6%
$410,000
6.5%
$380,000
7%
$350,000
Alternative Use
Use
Estimation
RETAIL STORES
$705,000
Current use
OFFICE BUILDING
$875,000
Change: +24% · Conversion: Easy
AUTO REPAIR, GARAGE
$815,000
Change: +15% · Conversion: Difficult
COMMERCIAL (GENERAL)
$805,000
Change: +14% · Conversion: Easy
WAREHOUSE, STORAGE
$625,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$550k
Range $495k – $605k · ±10% · vs last sale $550k (Jan 4 2024)
Last sale anchor
$550k
Jan 4 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$444 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$10,317
Tax year 2023
Assessed value
$1,762
Assessed 2023
Previous assessed
$1,762
+0.0% YoY
Effective rate
585.53%
On assessed value
Assessed land
$825
Assessed improvement
$937
Total market value
$176,200
Applied tax rate
710.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1926
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
1,240 SF
Lot
0.05 ac (2,038 SF)
APN
09-274-00-0705
UPID
US63-5250925
Jurisdiction
NASSAU
Metro division
NASSAU-SUFFOLK, NY METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$705,000
OFFICE BUILDING
Est. value
$875,000
AUTO REPAIR, GARAGE
Est. value
$815,000
COMMERCIAL (GENERAL)
Est. value
$805,000
WAREHOUSE, STORAGE
Est. value
$625,000
RETAIL STORES Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1926
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.05 ac
Current owner
From public records · entity-resolved
Ramas 808 LLC
Entity
Mailing address
2524 84TH ST, EAST ELMHURST, NY 11370-1603
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 4, 2024
$550,000
Ramas 808 LLC
Angelina Zabel Properties INC
Bargain And Sale Deed
$200,000 · Angelina Zabel Properties INC
Dec 13, 2005
$315,000
Angelina Zabel Properties INC
Thornton,richard J & Barbara J
Grant Deed
$215,000 · Richard J & Barbaa Thornton
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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