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Property profile & analytics
OFF-MARKET
Estimated value
$2,010,000
Office buildings
40 Underhill Blvd, Syosset, NY 11791-3490
Entity Owned
1-yr Hold
Free & Clear
Property ID
US63-3160316
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,371 SF
Lot
0.26 ac (11,282 SF)
APN
15-013-00-0099
UPID
US63-3160316
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
-
Rebecca Cohen, Licensed Associate Broker Real Estate Agency
-
Commercial Contractors Corp. Construction Company General Contractor
-
Dr. Sun Math Chemistry Physics SAT AP Tutoring Tutoring Service
-
Jeannemarie Massetti Foster Care Service Social Service Agency
-
Elite Dental Lab Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.91M
CAP Approach
CAP
$1.24M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.01M
Owner & transaction history
40 Underhill Blvd LLC · 1 yrs held
40 Underhill Blvd LLC
since 2025
Last sale
$2.1M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Syosset submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Syosset 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
$1,940,000
ML approach
$1,905,000
CAP Approach
CAP Return
Estimation
6%
$1,335,000
6.5%
$1,235,000
7%
$1,145,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,085,000
Current use
AUTO REPAIR, GARAGE
$2,875,000
Change: -7% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,830,000
Change: -8% · Conversion: Easy
RETAIL STORES
$2,490,000
Change: -19% · Conversion: Moderate
Blend value · Realmo final
$2.01M
Range $1.81M – $2.21M · ±10% · vs last sale $2.10M (Jan 22 2025)
Last sale anchor
$2.10M
Jan 22 2025
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
$460 / 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
$100,165
Tax year 2023
Assessed value
$13,656
Assessed 2023
Previous assessed
$21,096
-35.3% YoY
Effective rate
733.49%
On assessed value
Assessed land
$13,655
Assessed improvement
$1.00
Total market value
$1,365,600
Applied tax rate
532.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Total area
4,371 SF
Lot
0.26 ac (11,282 SF)
APN
15-013-00-0099
UPID
US63-3160316
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
OFFICE BUILDING Current
Est. value
$3.1M
AUTO REPAIR, GARAGE
Est. value
$2.9M
COMMERCIAL (GENERAL)
Est. value
$2.8M
RETAIL STORES
Est. value
$2.5M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
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
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
0.26 ac
Current owner
From public records · entity-resolved
40 Underhill Blvd LLC
Entity
Free & Clear · 1 yrs held
Mailing address
40 UNDERHILL BLVD, SYOSSET, NY 11791-3490
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
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
Jan 22, 2025
$2,100,000
40 Underhill Blvd LLC
Jandell Realty Associates LLC
Bargain & Sale Deed
—
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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