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Property profile & analytics
OFF-MARKET
Estimated value
$950,000
Retail space
331 Merrick Rd Valley Stream, NY 11580-5395
Trust Owned
17-yr Hold
Free & Clear
Property ID
US63-2846741
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1964
Construction
FRAME
Total area
1,671 SF
Lot
0.16 ac (7,050 SF)
APN
37-219-00-0030
UPID
US63-2846741
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
-
iLand Realty Real Estate Agency
-
Henry Rojas, Broker/Owner at EXIT Realty Hillcourt Real Estate Agency
-
Joanne Rojas, Broker/Owner at EXIT Realty Hillcourt Real Estate Agency
-
Air Design Inc. Hardware & Home Improvement HVAC Service
-
EXIT Realty Hillcourt Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$950k
Owner & transaction history
Padavan Frank SR Trust · 17 yrs held
Padavan Frank SR Trust
since 2009
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.5M
+52.0%
Office building
$1.2M
+22.3%
Auto repair, garage
$1.1M
+13.9%
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 Valley Stream submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Valley Stream 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$965,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,465,000
Change: +52% · Conversion: Moderate
OFFICE BUILDING
$1,180,000
Change: +22% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,100,000
Change: +14% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,080,000
Change: +12% · Conversion: Easy
WAREHOUSE, STORAGE
$840,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$950k
Range $855k – $1.05M · ±10%
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
$569 / 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
$42,200
Tax year 2023
Assessed value
$5,651
Assessed 2023
Previous assessed
$5,651
+0.0% YoY
Effective rate
746.77%
On assessed value
Assessed land
$2,221
Assessed improvement
$3,430
Total market value
$565,100
Applied tax rate
450.0000
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
1964
Construction
FRAME
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Units
2
Total area
1,671 SF
Lot
0.16 ac (7,050 SF)
APN
37-219-00-0030
UPID
US63-2846741
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
$965,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$840,000
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
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
1964
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
2
Lot
0.16 ac
Current owner
From public records · entity-resolved
Padavan Frank SR Trust
Trust
Free & Clear · 17 yrs held
Mailing address
145 OCEAN CT, MASSAPEQUA, NY 11758-7925
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 15, 2009
—
Padavan Frank SR Trust
Padavan,frank
Quit Claim Deed
related
—
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.
Try Rey
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