Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    379 Lk Dr Montauk, NY 11954-5104

    • Motels
    • 0.90 lot acres
    OFF-MARKET
    Last Sale
    May 17, 2023
    $149,400,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1028398
    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

    • Motels

    Property Details for 379 Lk Dr

    Lot size
    0.90 lot acres
    Property type
    Motels
    APN
    0300-011.00-05.00-018.001
    APU
    300011000500018001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      Off market

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

    Location Insight

    • Map
    • Local Demand
    City
    Montauk
    County
    Suffolk
    State
    New York
    Longitude
    -71.9406
    Latitude
    41.0683
    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
    2020
    $0.00
    $2,100
    $6,254
    $8,354
    -
    $5,676
    $16,903
    $22,579

    Comparable in this City

    • Value Estimation by Request
      0.38 Acres

      107 Emerson Ave

      MOTEL • 0.38 Acres
      107 Emerson Ave, Montauk, NY 11954-5191
      View Details
    • Value Estimation by Request
      1.77 Acres

      371 Lk Dr

      MOTEL • 1.77 Acres
      371 Lk Dr, Montauk, NY 11954-5492
      View Details
    • Value Estimation by Request
      0.67 Acres

      55 Elmwood Ave

      MOTEL • 0.67 Acres
      55 Elmwood Ave, Montauk, NY 11954-5342
      View Details
    • Value Estimation by Request
      0.27 Acres

      80 Emerson Ave

      MOTEL • 0.27 Acres
      80 Emerson Ave, Montauk, NY 11954-5189
      View Details
    • Value Estimation by Request
      0.19 Acres

      95 Emerson Ave

      MOTEL • 0.19 Acres
      95 Emerson Ave, Montauk, NY 11954-5188
      View Details
    • Value Estimation by Request
      0.51 Acres

      2 Euclid Ave

      MOTEL • 0.51 Acres
      2 Euclid Ave, Montauk, NY 11954
      View Details

    Similar Nearby for Sale

    • $535,000

      Oceanfront Studio in Montauk

      Charming oceanfront studio with rental potential in Montauk, NY.
      126 South Emerson Ave, Montauk, NY 11954
      View Details
    • $2,999,000
      3,572 SF

      Montauk Multi-Family Commercial/Residential Property

      Unique Montauk property with cottages, main house, and accessory structures.
      18 North Shore Rd, Montauk, NY 11954
      View Details
    • $26,000,000
      0.54 Acres

      Montauk Commercial Building For Sale

      Commercial building available in Montauk, New York.
      84 South Emerson Ave, Montauk, NY 11954
      View Details
    • Contact for pricing

      Montauk Land Development Opportunity

      2.5 acres in Hither Hills, Montauk, with water view potential.
      6 Fort Ln, Montauk, NY 11954
      View Details
    • $6,000,000

      Montauk Highway Land For Sale

      Commercial land available on Montauk Highway in Montauk, NY.
      809 Montauk Hwy, Montauk, NY 11954
      View Details
    • $950,000
      0.19 Acres

      Prime Commercial Land in Montauk

      Commercial-zoned vacant land near beaches and town center in Montauk.
      90 South Erie Ave, Montauk, NY 11954
      View Details

    Similar Nearby for Lease

    • $3,000 /Mo
      10,019 SF

      Montauk Commercial Parking Spaces Available

      Two parking spaces for rent near Montauk LIRR Station.
      213 Edgemere St, Montauk, NY 11954
      View Details
    • $10,000 /Mo

      Montauk Apartment for Rent

      Apartment unit available for rent in Montauk, New York.
      16 Navy Rd Unit, Montauk, NY 11954
      View Details
    • Contact for pricing
      3,000 SF

      Prime Montauk Executive Office Space

      3,000 SF Newly Constructed Office
      45 Euclid Ave, Montauk, NY 11954
      View Details
    • $16,500 /Mo

      Renovated Condo with Ocean Views

      One-bedroom condo in Montauk, renovated with ocean views.
      707 Old Montauk Hwy, Montauk, NY 11954
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    379 Lk Dr
    Montauk, NY 11954-5104
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.