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Property profile & analytics
OFF-MARKET
Estimated value
$3,180,000
Distribution centers
40 Smith St Farmingdale, NY 11735-1005
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US63-0043292
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1962
Total area
20,000 SF
Lot
1.06 ac (46,174 SF)
Zoning code
GA
APN
0100-002.00-01.00-019.001
UPID
US63-0043292
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
-
Superior Motion Control Electronics & Wireless Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.30M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.11M
Blend (final)
Blend
$3.18M
Owner & transaction history
Spectrum I Re LLC · 3 yrs held
Spectrum I Re LLC
since 2022
Last sale
$3.2M
7 recorded transactions
Zoning & alternative use
GA · Farmingdale, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$5.1M
+18.5%
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 Farmingdale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Farmingdale 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
$3,100,000
ML approach
$3,300,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,270,000
Current use
INDUSTRIAL (GENERAL)
$5,055,000
Change: +18% · Conversion: Easy
Blend value · Realmo final
$3.18M
Range $2.86M – $3.50M · ±10% · vs last sale $3.20M (Dec 16 2022)
Last sale anchor
$3.20M
Dec 16 2022
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
$159 / 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 2020Property tax & assessments
Tax year 2020
Assessed value
$24,030
Assessed 2023
Previous assessed
$24,030
+0.0% YoY
Assessed land
$4,770
Assessed improvement
$19,260
Land market value
$7,227
Improvement market value
$29,182
Total market value
$36,409
Applied tax rate
472,605.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1962
Heating
NONE
Total area
20,000 SF
Lot
1.06 ac (46,174 SF)
Zoning code
GA
APN
0100-002.00-01.00-019.001
UPID
US63-0043292
Jurisdiction
SUFFOLK
Metro division
NASSAU-SUFFOLK, NY METROPOLITAN DIVISION
Zoning & alternative use
GA · Farmingdale, NY
Zoning GA · permitted uses
GA · Farmingdale, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Farmingdale. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$4.3M
INDUSTRIAL (GENERAL)
Est. value
$5.1M
WAREHOUSE, STORAGE Current
INDUSTRIAL (GENERAL)
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
1962
Heating
NONE
Lot
1.06 ac
Current owner
From public records · entity-resolved
Spectrum I Re LLC
Entity
Mailing address
1 BAYPORT WAY STE #300, NEWPORT NEWS, VA 23606-4560
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 16, 2022
$3,200,000
Spectrum I Re LLC
40 Smith Street LLC
Deed
$2,560,000 · Primis Bank
Jun 25, 2018
—
40 Smith Street LLC
—
Deed
related
$1,700,000 · Td Bk NA
Jul 27, 2017
—
40 Smith Street LLC
Town Of Babylon Indl Dev Agcy
Grant Deed
related
—
Feb 26, 2007
—
Town Of Babylon Industrial
40 Smith St LLC
Grant Deed
related
—
Feb 26, 2007
$2,380,000
40 Smith St LLC
40 Smith St Management
Grant Deed
related
—
May 16, 2001
$1,000,000
40 Smith Street Management INC
Stern Family LP
Grant Deed
$960,000 · Hsbc Bank USA
—
—
Town Of Babylon Industrial Dev
—
Deed Of Trust
related
$1,800,000 · Madison National Bank
—
—
Town Of Babylon Industrial Dev
—
Deed Of Trust
related
$1,700,000 · Td Bk NA
—
—
40 Smith Street LLC
—
Deed Of Trust
related
$587,174 · Td Bk NA
—
—
40 Smith Street LLC
—
Loan Modification
related
$1,700,000 · Td Bk NA
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.
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