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Property profile & analytics
OFF-MARKET
Estimated value
$725,000
Retail space
42 46th S Main St Freeport, NY 11520
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US63-2864067
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1933
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,688 SF
Lot
0.08 ac (3,690 SF)
APN
55-481-00-0002
UPID
US63-2864067
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
-
Don Miguel Restaurant
-
La Mia Pizza Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$600k
CAP Approach
CAP
$515k
Comparable Approach
Comparable
$736k
Blend (final)
Blend
$725k
Owner & transaction history
Iar Zone LLC · 4 yrs held
Iar Zone LLC
since 2022
Last sale
$945,000
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.2M
+113.5%
Auto repair, garage
$1.1M
+98.9%
Commercial (general)
$835,000
+49.9%
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 Freeport submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Freeport 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
$885,000
ML approach
$600,000
CAP Approach
CAP Return
Estimation
6%
$555,000
6.5%
$515,000
7%
$480,000
Alternative Use
Use
Estimation
RETAIL STORES
$560,000
Current use
OFFICE BUILDING
$1,190,000
Change: +114% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,110,000
Change: +99% · Conversion: Difficult
COMMERCIAL (GENERAL)
$835,000
Change: +50% · Conversion: Easy
WAREHOUSE, STORAGE
$520,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$725k
Range $653k – $798k · ±10% · vs last sale $945k (Apr 4 2022)
Last sale anchor
$945k
Apr 4 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
$430 / 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
$21,031
Tax year 2023
Assessed value
$6,215
Assessed 2023
Previous assessed
$6,215
+0.0% YoY
Effective rate
338.39%
On assessed value
Assessed land
$1,107
Assessed improvement
$5,108
Total market value
$621,500
Applied tax rate
7.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1933
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
1,688 SF
Lot
0.08 ac (3,690 SF)
APN
55-481-00-0002
UPID
US63-2864067
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
RETAIL STORES Current
Est. value
$560,000
OFFICE BUILDING
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$835,000
WAREHOUSE, STORAGE
Est. value
$520,000
RETAIL STORES Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
1933
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.08 ac
Current owner
From public records · entity-resolved
Iar Zone LLC
Entity
Mailing address
46 GRN ST FL #2, HUNTINGTON, NY 11743-3357
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 4, 2022
$945,000
Iar Zone LLC
Builder Funding LLC
Bargain And Sale Deed
$699,000 · Island FCU
Jul 3, 2019
—
Building Fndg LLC
Lmlg Corp
Grant Deed
—
Mar 24, 2017
—
Lmlg Corp
—
Deed
related
$600,000 · Builder Fndng
—
—
Lmlg Corp
—
Deed Of Trust
related
$600,000 · Builder Fndng
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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