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Property profile & analytics
OFF-MARKET
Estimated value
$3,310,000
Distribution centers
425 Underhill Blvd, Syosset, NY 11791-3433
Entity Owned
7-yr Hold
Free & Clear
Property ID
US63-1752932
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,408 SF
Lot
3.76 ac (163,786 SF)
APN
15-169-00-0012
UPID
US63-1752932
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
-
Star Industries Inc (Bike/Boat/Book/etc) Store Wine and Liquor Store
-
Audio Design Consultants Electronics & Wireless Store Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.31M
Owner & transaction history
Syosset Property Partners LLC · 7 yrs held
Syosset Property Partners LLC
since 2019
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$4.5M
+40.3%
Auto repair, garage
$4.2M
+30.7%
Commercial (general)
$4.2M
+28.7%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,225,000
Current use
OFFICE BUILDING
$4,520,000
Change: +40% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,210,000
Change: +31% · Conversion: Easy
COMMERCIAL (GENERAL)
$4,150,000
Change: +29% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$3,865,000
Change: +20% · Conversion: Easy
Blend value · Realmo final
$3.31M
Range $2.98M – $3.64M · ±10%
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
$517 / 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
Assessed value
$49,145
Assessed 2023
Previous assessed
$49,145
+0.0% YoY
Assessed land
$36,852
Assessed improvement
$12,293
Total market value
$4,914,500
Applied tax rate
587.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
6,408 SF
Lot
3.76 ac (163,786 SF)
APN
15-169-00-0012
UPID
US63-1752932
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
WAREHOUSE, STORAGE Current
Est. value
$3.2M
OFFICE BUILDING
Est. value
$4.5M
AUTO REPAIR, GARAGE
Est. value
$4.2M
COMMERCIAL (GENERAL)
Est. value
$4.2M
INDUSTRIAL (GENERAL)
Est. value
$3.9M
WAREHOUSE, STORAGE Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
3.76 ac
Current owner
From public records · entity-resolved
Syosset Property Partners LLC
Entity
Free & Clear · 7 yrs held
Mailing address
345 UNDERHILL BLVD, SYOSSET, NY 11791-3425
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 13, 2019
—
Nassau Cnty Indl Dev Agcy
—
Grant Deed
related
$2,000,000 · Syosset Prop Ptrs LLC
Mar 4, 2019
$8,600,000
Syosset Property Partners LLC
Star Industries INC
Bargain And Sale Deed
—
—
—
Star Industries INC
—
Deed Of Trust
related
$1,300,000 · Transportation Insurance Co
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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