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

    40 Main St East Rockaway, NY 11518-1929

    • Banks
    • 896 SF
    • 0.11 lot acres
    OFF-MARKET
    Last Sale
    Jun 22, 2021
    $600,000
    Value Estimations
    $595,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3255928
    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

    • Strongbox Theater / Performing Arts Theater

    Property Details for 40 Main St

    Year built
    1930
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.11 lot acres
    Property size
    896 SF
    Property type
    Banks
    APN
    38-509-00-0006
    APU
    38509000006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $615,000
      ML approach
      $760,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $409,000
      Market price range: $25.8k - $410k

    • Alternative Use

      Use
      Estimation
      FINANCIAL BUILDING
      $720,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $785,000
      Change: +9% Conversion: Difficult
      OFFICE BUILDING
      $630,000
      Change: -12% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $590,000
      Change: -18% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $580,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    East Rockaway
    County
    Nassau
    State
    New York
    Longitude
    -73.6624
    Latitude
    40.6405
    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
    $45,061
    $771
    $6,008
    $6,779
    -
    $0.00
    $0.00
    $677,900

    Comparable in this City

    • Value Estimation by Request
      3,724 SF

      111 Main St

      FINANCIAL BUILDING • 3,724 SF
      111 Main St, East Rockaway, NY 11518-1834
      View Details
    • Value Estimation
      $845,000
      3,318 SF

      464 Atlantic Ave

      FINANCIAL BUILDING • 3,318 SF
      464 Atlantic Ave, East Rockaway, NY 11518-1415
      View Details
    • Value Estimation
      $1,870,000
      2,112 SF

      115 Main St

      FINANCIAL BUILDING • 2,112 SF
      115 Main St, East Rockaway, NY 11518-1701
      View Details
    • Value Estimation by Request
      475 SF

      560 Atlantic Ave

      Restaurants • 475 SF
      560 Atlantic Ave, East Rockaway, NY 11518
      View Details
    • Value Estimation
      $975,000
      3,465 SF

      2 Davison Plz

      RETAIL STORES (PERSONAL SERVICES) • 3,465 SF
      2 Davison Plz, East Rockaway, NY 11518-1500
      View Details
    • Value Estimation
      $1,205,000
      5,947 SF

      95 Main St, Unit 103

      RETAIL STORES (PERSONAL SERVICES) • 5,947 SF
      95 Main St, East Rockaway, NY 11518-1834
      View Details

    Similar Nearby for Sale

    • $900,000
      475 SF

      East Rockaway Commercial Property

      Prime Retail Space, High Traffic Area
      560 Atlantic Ave, East Rockaway, NY 11518
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    • $149,777

      Retail Space in East Rockaway

      Retail space available for sale in East Rockaway, NY.
      451 Atlantic Ave Ave, East Rockaway, NY 11518
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    • $262,000

      Approved Building Plans Opportunity

      Land for sale with approved building plans.
      9 James St, East Rockaway, NY 11518
      View Details
    • $349,900

      East Rockaway Multifamily Opportunity

      Multifamily property for sale in East Rockaway, New York.
      290 Atlantic Ave, East Rockaway, NY 11518
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    • $199,000

      Commercial Land Available For Sale

      Commercial land for sale on Atlantic Ave, East Rockaway.
      465 Atlantic Ave, East Rockaway, NY 11518
      View Details
    • $155,000

      East Rockaway Studio Apartment

      Studio apartment in East Rockaway, close to LIRR and amenities.
      16 Main St, East Rockaway, NY 11518
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    Similar Nearby for Lease

    • $3,499 /Mo

      Retail Space in Busy Center

      Approximately 800 sq ft retail space for rent.
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    • $30 SF/Yr

      Retail Space in East Rockaway

      Mix-use property with high foot traffic and excellent visibility.
      136 Main St, East Rockaway, NY 11518
      View Details
    • $699 /Mo

      Blacktop Parking/Storage Space Available

      800 sq ft blacktop parking/storage for lease.
      460 Atlantic Ave, East Rockaway, NY 11518
      View Details
    • $1,500 /Mo

      East Rockaway Office with Basement

      Office space with basement available for rent in East Rockaway.
      460 Atlantic R+B, East Rockaway, NY 11518
      View Details
    • $6,100 /Mo

      East Rockaway, NY 11518

      PRIME WAREHOUSE SPACE FOR LEASE IN EAST ROCKAWAY + HIGH CEILINGS SPACE FOR LEASE
      East Rockaway, NY 11518
      View Details
    • $3,950 /Mo
      1,069 SF

      Renovated Apartment with Included Utilities

      Renovated 3-bedroom apartment with modern amenities and included utilities.
      72 Althouse Ave, East Rockaway, NY 11518
      View Details
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    40 Main St
    East Rockaway, NY 11518-1929
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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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