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    Property profile & analytics

    476 Merrick Rd Oceanside, NY 11572-1423

    • Auto shops
    • 1,431 SF
    • 0.19 lot acres
    OFF-MARKET
    Last Sale
    Jul 22, 2024
    $860,000
    Value Estimations
    $895,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3322628
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • CARSTAR Celebrity Chase Merrick Road / Auto Repair Shop

    Property Details for 476 Merrick Rd

    Year built
    1948
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.19 lot acres
    Property size
    1,431 SF
    Property type
    Auto shops
    APN
    54-128-00-0150
    APU
    54128000150

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $962,000
      Market price range: $60.6k - $963k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $980,000
      Current use
      WAREHOUSE, STORAGE
      $1,315,000
      Change: +34% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $1,255,000
      Change: +28% Conversion: Difficult
      OFFICE BUILDING
      $1,010,000
      Change: +3% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $925,000
      Change: -6% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Oceanside
    County
    Nassau
    State
    New York
    Longitude
    -73.6234
    Latitude
    40.6532
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $21,552
    $1,764
    $1,244
    $3,008
    -
    $0.00
    $0.00
    $300,800

    Comparable in this City

    • Value Estimation
      $1,355,000
      3,000 SF

      3305 Lawson Blvd Vermont Ave

      AUTO REPAIR, GARAGE • 3,000 SF
      3305 Lawson Blvd Vermont Ave, Oceanside, NY 11572
      View Details
    • Value Estimation
      $1,045,000
      1,827 SF

      3315 Lawson Blvd

      AUTO REPAIR, GARAGE • 1,827 SF
      3315 Lawson Blvd, Oceanside, NY 11572-3710
      View Details
    • Value Estimation
      $1,045,000
      2,450 SF

      2445 Long Bch Rd

      AUTO REPAIR, GARAGE • 2,450 SF
      2445 Long Bch Rd, Oceanside, NY 11572
      View Details
    • Value Estimation
      $1,195,000
      2,800 SF

      2447 Long Bch Rd

      AUTO REPAIR, GARAGE • 2,800 SF
      2447 Long Bch Rd, Oceanside, NY 11572-1320
      View Details
    • Value Estimation
      $1,210,000
      3,780 SF

      3592 Hampton Rd

      AUTO REPAIR, GARAGE • 3,780 SF
      3592 Hampton Rd, Oceanside, NY 11572-4840
      View Details
    • Value Estimation by Request
      480 SF

      3427 Long Bch Rd

      AUTO REPAIR, GARAGE • 480 SF
      3427 Long Bch Rd, Oceanside, NY 11572-5424
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,400 SF

      Auto Repair Shop For Sale

      Four-bay auto repair shop with owner financing available.
      3345 Long Beach Rd, Oceanside, NY 11572
      View Details
    • $2,388,000
      4,616 SF

      Oceanside Retail Building - High Traffic!

      Prime Oceanside location, 4,616 sq ft restaurant/bar.
      3451 Long Beach Rd, Oceanside, NY 11572
      View Details
    • $999,999
      2,200 SF

      Oceanside Mixed-Use Property For Sale

      Mixed-use property in Oceanside with residential and commercial spaces.
      3116 Long Beach Rd, Oceanside, NY 11572
      View Details
    • Contact for pricing
      9,000 SF

      Oceanside Retail Property For Sale

      9,000 square foot retail property in Oceanside, New York.
      3206 Long Beach Rd, Oceanside, NY 11572
      View Details

    Similar Nearby for Lease

    • $12,000 /Mo
      19,001 SF

      Oceanside Commercial Warehouse with Yard

      5,000+ SF warehouse with 14,000+ SF enclosed yard.
      3578 Maple Ct, Oceanside, NY 11572
      View Details
    • $8,000 /Mo

      Oceanside Commercial Space Available

      Commercial space suitable for auto, retail, or warehouse use.
      3578A Maple Ct, Oceanside, NY 11572
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space in Oceanside Center

      Retail space available in shopping center anchored by major retailers.
      3544-3584 Long Beach Rd, Oceanside, NY 11572
      View Details
    • Contact for pricing

      Retail Space for Lease

      Retail space available for lease in Oceanside, NY.
      3098 Long Beach Rd, Oceanside, NY 11572
      View Details
    • Contact for pricing
      20,100 SF

      Retail Space in Oceanside Plaza

      Retail spaces available in shopping center anchored by major retailers.
      3600-3650 Long Beach Rd, Oceanside, NY 11572
      View Details
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    Oceanside, NY 11572-1423
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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