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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    309 Park Ave Long Beach, NY 11561-3241

    • Office buildings
    • 6,370 SF
    • 0.21 lot acres
    OFF-MARKET
    Last Sale
    Oct 05, 2022
    $2,200,000
    Value Estimations
    $2,165,000
    Show details
    Cap Rate Potential
    5.5%
    Office buildings
    Location Intelligence
    Property ID
    US63-2599048
    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

    • Global Wound Care Products / Medical Supply Store
    • RISE Medical Cannabis Dispensary Long Beach / Cannabis Store
    • Long Island Ent Associates: Mortensen Melissa MD / Doctor
    • Dr. Shai Y. Shinhar, MD / Physician
    • Triumph Treatment / Addiction Treatment Center

    Property Details for 309 Park Ave

    Year built
    1987
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.21 lot acres
    Property size
    6,370 SF
    Property type
    Office buildings
    APN
    59-046-00-0140
    APU
    59046000140

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,130,000
      ML approach
      $2,125,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,945,000
      6.5%
      $1,795,000
      7%
      $1,670,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Long Beach
    County
    Nassau
    State
    New York
    Longitude
    -73.6732
    Latitude
    40.5888
    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
    $48,570
    $2,835
    $13,851
    $16,686
    -
    $0.00
    $0.00
    $1,668,600

    Comparable in this City

    • Value Estimation
      $775,000
      3,400 SF

      340 Park Ave

      PROFESSIONAL BUILDING (MULTI-STORY) • 3,400 SF
      340 Park Ave, Long Beach, NY 11561-3213
      View Details
    • Value Estimation
      $2,985,000
      5,666 SF

      670 Long Bch Blvd

      OFFICE BUILDING • 5,666 SF
      670 Long Bch Blvd, Long Beach, NY 11561-2237
      View Details
    • Value Estimation
      $935,000
      4,387 SF

      250 Lido Blvd

      OFFICE BUILDING • 4,387 SF
      250 Lido Blvd, Lido Beach, NY 11561-5015
      View Details
    • Value Estimation
      $1,580,000
      7,980 SF

      370 Park Ave

      OFFICE BUILDING • 7,980 SF
      370 Park Ave, Long Beach, NY 11561-3213
      View Details
    • Value Estimation
      $2,050,000
      11,208 SF

      367 Park Ave

      PROFESSIONAL BUILDING (MULTI-STORY) • 11,208 SF
      367 Park Ave, Long Beach, NY 11561-3223
      View Details
    • Value Estimation
      $980,000
      4,274 SF

      266 Park Ave

      PROFESSIONAL BUILDING (MULTI-STORY) • 4,274 SF
      266 Park Ave, Long Beach, NY 11561-3212
      View Details

    Similar Nearby for Sale

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      7,200 SF

      Long Beach Office Building

      7,200 SF office building for sale in Long Beach.
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    • $849,999

      Medical Office with Expansion Potential

      Commercial building with approved expansion plans in high-traffic area.
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    • $1,750,000

      Renovated Retail Storefront Near All

      Two-story renovated retail storefront near high-traffic Long Beach intersection.
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      Medical Office with Expansion Potential

      Commercial building with approved expansion plans in high-traffic area.
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    • $899,000
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      Long Beach Office Building For Sale

      Prime Long Beach location, 1800 sq ft office space.
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    • $679,000
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      Long Beach Duplex For Sale

      Duplex in the heart of Long Beach, New York.
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    Similar Nearby for Lease

    • $2,750 /Mo

      Move-in Ready Office Space Available

      Well-maintained office space with street-level signage and ample parking.
      212 W Park Ave, Long Beach, NY 11561
      View Details
    • $2,900 /Mo

      Medical Office Space Available

      Medical office space for lease featuring multiple exam rooms.
      724 E Park Ave, Long Beach, NY 11561
      View Details
    • $6,000 /Mo

      Street Level Office/Storefront For Rent

      Street level office/storefront in practically Class A condition for rent.
      214 W Park Ave, Long Beach, NY 11561
      View Details
    • New
      $3,500 /Mo

      Move-in Ready Office in Long Beach

      Professional office space in Long Beach's financial district.
      20 Park St W, Long Beach, NY 11561
      View Details
    • $1,450 /Mo
      800 SF

      Renovated Office Suite Near LIRR

      Recently renovated office suite for lease, near train and amenities.
      350 National Blvd, Long Beach, NY 11561
      View Details
    • $1,500 /Mo

      Upscale Office Space in Spa

      Modern office space within a high-end medical spa setting.
      136 E Park Ave, Long Beach, NY 11561
      View Details
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    309 Park Ave
    Long Beach, NY 11561-3241
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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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