Add Listing
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

    397 Willis Ave Williston Park, NY 11596-2208

    • Office buildings
    • 3,846 SF
    • 0.22 lot acres
    OFF-MARKET
    Value Estimations
    $825,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-5752762
    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

    • Mr. Richard Scalise / Physician
    • Professional Physical Therapy / Physician
    • Glen Rowell, PT, DPT, OCS / Physician
    • Unknown DDS / Dental Office
    • Kimberly Conway / Physician

    Property Details for 397 Willis Ave

    Year built
    1986
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.22 lot acres
    Property size
    3,846 SF
    Property type
    Office buildings
    APN
    09-316-00-0113
    APU
    9316000113

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Williston Park
    County
    Nassau
    State
    New York
    Longitude
    -73.6442
    Latitude
    40.754
    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
    $27,094
    $3,024
    $1,262
    $4,286
    -
    $0.00
    $0.00
    $428,600

    Comparable in this City

    • Value Estimation
      $1,135,000
      3,083 SF

      11 Hillside Ave

      OFFICE BUILDING • 3,083 SF
      11 Hillside Ave, Williston Park, NY 11596-2303
      View Details
    • Value Estimation by Request
      500 SF

      486 Willis Ave

      OFFICE BUILDING • 500 SF
      486 Willis Ave, Williston Park, NY 11596-1737
      View Details
    • Value Estimation by Request
      3,416 SF

      275 Hillside Ave

      OFFICE BUILDING • 3,416 SF
      275 Hillside Ave, Williston Park, NY 11596-2205
      View Details
    • Value Estimation by Request
      1,242 SF

      185 Hillside Ave

      OFFICE BUILDING • 1,242 SF
      185 Hillside Ave, Williston Park, NY 11596-1747
      View Details
    • Value Estimation by Request
      450 SF

      245 Hillside Ave

      OFFICE BUILDING • 450 SF
      245 Hillside Ave, Williston Park, NY 11596-2240
      View Details
    • Value Estimation by Request
      630 SF

      2 Hillside Ave Ste A

      OFFICE BUILDING • 630 SF
      2 Hillside Ave Ste A, Williston Park, NY 11596-2335
      View Details

    Similar Nearby for Sale

    • $1,690,000

      Retail Property in Williston Park

      Retail property for sale in Williston Park, New York.
      74A Hillside Ave, Williston Park, NY 11596
      View Details
    • $920,000
      Pending

      Three-Unit Building on Willis Avenue

      Mixed-use building with storefront and apartments in excellent condition.
      639 Willis Ave, Williston Park, NY 11596
      View Details
    • $150,000
      0.22 Acres

      Turn-Key Gas Station & Shop

      Gas station and mechanic shop business opportunity in Williston Park.
      295 Hillside Ave, Williston Park, NY 11596
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,000 SF

      Free Standing Corner Office Building

      Corner office-retail building with excellent visibility and signage.
      192 Hillside Ave, Williston Park, NY 11596
      View Details
    • $5,000 /Mo
      4,138 SF

      Williston Park Commercial Space Available

      Prime commercial space in high-traffic area, suitable for various businesses.
      629-631 Willis Ave, Williston Park, NY 11596
      View Details
    • $2,450 /Mo

      Commercial Space Near LIRR

      Commercial space suitable for beauty salon or physiotherapy clinic.
      99 Hillside Ave, Williston Park, NY 11596
      View Details
    • $5,500 /Mo

      Retail Space in Williston Park

      Retail property available for rent in Williston Park, NY.
      74 Hillside Ave, Williston Park, NY 11596
      View Details
    • $16,000 /Mo
      9,531 SF

      Turn-Key Gas Station & Shop

      Gas station and mechanic shop for lease in Williston Park.
      295 Hillside Ave, Williston Park, NY 11596
      View Details
    • $9,500 /Mo
      2,100 SF

      Historic Williston Park Retail Storefront

      Iconic corner retail storefront available for rent in Williston Park.
      84 Hillside Ave, Williston Park, NY 11596
      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.
    397 Willis Ave
    Williston Park, NY 11596-2208
    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.
    Sign Up Successful!
    You now have access to more from Realmo!