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Property profile & analytics
OFF-MARKET
Estimated value
$1,345,000
Automotive properties
450 Merrick Rd, Valley Stream, NY 11580
Entity Owned
2-yr Hold
Free & Clear
Property ID
US63-0152297
Property profile
Verified
Property type
Automotive properties
Use group
VEHICLE SALES, RENTALS
Year built
1980
Construction
FRAME
Total area
2,502 SF
Lot
0.56 ac (24,437 SF)
APN
37-571-00-0212
UPID
US63-0152297
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.31M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.35M
Owner & transaction history
1640 Fort Lee Square INC · 2 yrs held
1640 Fort Lee Square INC
since 2023
Last sale
$1.5M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.2M
+33.5%
Office building
$1.8M
+7.4%
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 Valley Stream submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Valley Stream 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
$1,070,000
ML approach
$1,305,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$1,645,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,195,000
Change: +33% · Conversion: Difficult
OFFICE BUILDING
$1,765,000
Change: +7% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,620,000
Change: -1% · Conversion: Moderate
RETAIL STORES
$1,445,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$1.35M
Range $1.21M – $1.48M · ±10% · vs last sale $1.50M (Sep 25 2023)
Last sale anchor
$1.50M
Sep 25 2023
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
$538 / 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
$61,373
Tax year 2023
Assessed value
$8,740
Assessed 2023
Previous assessed
$8,740
+0.0% YoY
Effective rate
702.21%
On assessed value
Assessed land
$8,236
Assessed improvement
$504
Total market value
$874,000
Applied tax rate
450.0000
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
Automotive properties
Use group
VEHICLE SALES, RENTALS
Status
Off-Market
Year built
1980
Construction
FRAME
Heating
FORCED AIR
Stories
1
Total area
2,502 SF
Lot
0.56 ac (24,437 SF)
APN
37-571-00-0212
UPID
US63-0152297
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
AUTO REPAIR, GARAGE Current
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.2M
OFFICE BUILDING
Est. value
$1.8M
COMMERCIAL (GENERAL)
Est. value
$1.6M
RETAIL STORES
Est. value
$1.4M
AUTO REPAIR, GARAGE Current
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
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
1980
Construction
FRAME
Heating
FORCED AIR
Stories
1
Lot
0.56 ac
Current owner
From public records · entity-resolved
1640 Fort Lee Square INC
Entity
Free & Clear · 2 yrs held
Mailing address
55 MONTROSE CT, ROSLYN, NY 11576-1112
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 31, 2024
—
1640 Fort Lee Square INC
—
Deed
related
$3,179,413 · Woori America Bank
Oct 23, 2023
$16,500,000
1640 Fort Lee Square INC
500 W Merrick Realty LLC
Bargain & Sale Deed
—
Sep 25, 2023
$1,500,000
1640 Fort Lee Square INC
450 W Merrick LLC
Bargain And Sale Deed
$6,000,000 · Woori America Bank
Mar 15, 2021
—
500 W Merrick Realty LLC
—
Deed
related
$2,260 · Bank Of Hope
May 19, 2017
$1,900,000
450 W Merrick LLC
56 W Merrick Rd Realty Corp
Grant Deed
$1,300,000 · Bbcn Bk
May 3, 2017
—
500 W Merrick Realty LLC
—
Deed
related
$250,000 · Bbcn Bk
Feb 25, 2017
—
56 W Merrick Rd Realty Corp
—
Loan Modification, Consolidation And Extension
related
$1,115,000 · Wfb NA
Feb 21, 2017
—
500 W Merrick Realty LLC
—
Deed
related
$250,000 · Bbu Bk
—
—
56 W Merrick Rd Realty Corp
—
Deed Of Trust
related
$50,000 · Wells Fargo Bank
—
—
56 W Merrick Rd Realty Corp
—
Deed Of Trust
related
$845,000 · Wfb NA
—
—
56 W Merrick Rd Realty Corp
—
Deed Of Trust
related
$2,000,000 · Wells Fargo Bank
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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