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Property profile & analytics
OFF-MARKET
Estimated value
$7,255,000
Strip malls
291 Main St, Spring Valley, NY 10977-2924
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US63-2242448
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1980
Total area
29,674 SF
Lot
3.19 ac (138,956 SF)
Zoning code
R-15
APN
392689 50.14-1-48
UPID
US63-2242448
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
-
George Epstein Ophthalmologist (Bike/Boat/Book/etc) Store
-
EYE GUYS OPTICAL Ophthalmologist (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.43M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.95M
Blend (final)
Blend
$7.26M
Owner & transaction history
Hillcrest Plaza Owner LLC · 3 yrs held
Hillcrest Plaza Owner LLC
since 2022
Last sale
$6.1M
5 recorded transactions
Zoning & alternative use
R-15 · Spring Valley, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$10.7M
+16.4%
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 Spring Valley submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spring Valley 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
$8,690,000
ML approach
$8,430,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$9,165,000
Current use
WAREHOUSE, STORAGE
$10,665,000
Change: +16% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$8,840,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$7.26M
Range $6.53M – $7.98M · ±10% · vs last sale $6.10M (Aug 29 2022)
Last sale anchor
$6.10M
Aug 29 2022
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
$244 / 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
Property tax & assessments
Assessed value
$400,000
Assessed 2023
Previous assessed
$400,000
+0.0% YoY
Assessed land
$152,300
Assessed improvement
$247,700
Land market value
$225,023
Improvement market value
$365,977
Total market value
$591,000
Applied tax rate
392,602.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1980
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
29,674 SF
Lot
3.19 ac (138,956 SF)
Zoning code
R-15
APN
392689 50.14-1-48
UPID
US63-2242448
Jurisdiction
ROCKLAND
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R-15 · Spring Valley, NY
Zoning R-15 · permitted uses
R-15 · Spring Valley, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Spring Valley. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$9.2M
WAREHOUSE, STORAGE
Est. value
$10.7M
INDUSTRIAL (GENERAL)
Est. value
$8.8M
NEIGHBORHOOD: SHOPPING CENTER Current
WAREHOUSE, STORAGE
INDUSTRIAL (GENERAL)
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
1980
Heating
NONE
Cooling
Yes
Stories
1
Buildings
1
Lot
3.19 ac
Current owner
From public records · entity-resolved
Hillcrest Plaza Owner LLC
Entity
Mailing address
115 ENGINEERS RD, HAUPPAUGE, NY 11788-4005
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 29, 2022
$6,100,000
Hillcrest Plaza Owner LLC
Hillcrest Plaza LLC
Bargain And Sale Deed
$2,100,000 · Connectone Bank
Jul 17, 2020
—
Hillcrest Plaza LLC
—
Deed
$1,900,000 · Naomi Masarky
Jan 11, 2011
—
Arthur Masarky
Masarky,henri
Quit Claim Deed
related
—
—
—
Hillcrest Plaza LLC
—
Deed Of Trust
$1,900,000 · Naomi Masarky
—
—
Hillcrest Plaza Commons LLC
—
Deed Of Trust
related
$572,790 · New York Community Bank
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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