New search
Property profile & analytics
FOR LEASE
Retail space
48 E Park Ave, Long Beach, NY 11561
Trust Owned
10-yr Hold
~
Est. High Equity
Property ID
US63-1266669
For Lease
1 / 2
$1,015,000
48 E Park Ave, Long Beach, NY 11561
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1936
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,700 SF
Lot
0.05 ac (2,000 SF)
APN
59-097-00-0021
UPID
US63-1266669
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
-
Pilates By The Sea Gym & Fitness Center
-
Michael's Tailoring & Dry Cleaning (Bike/Boat/Book/etc) Store
-
South Side Muay Thai Gym & Fitness Center
-
Kettle Juan Fitness Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.29M
Blend (final)
Blend
$1.02M
Owner & transaction history
Turhan Family Trust · 10 yrs held
Turhan Family Trust
since 2016
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.5M
+54.0%
Office building
$1.2M
+23.8%
Auto repair, garage
$1.1M
+15.3%
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 Long Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Long Beach 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
RETAIL STORES
$970,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,490,000
Change: +54% · Conversion: Moderate
OFFICE BUILDING
$1,200,000
Change: +24% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,115,000
Change: +15% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,100,000
Change: +14% · Conversion: Easy
WAREHOUSE, STORAGE
$855,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$1.02M
Range $914k – $1.12M · ±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
$597 / 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
$16,348
Tax year 2023
Assessed value
$5,304
Assessed 2023
Previous assessed
$5,304
+0.0% YoY
Effective rate
308.22%
On assessed value
Assessed land
$630
Assessed improvement
$4,674
Total market value
$530,400
Applied tax rate
996.0000
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
For Lease
Year built
1936
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Total area
1,700 SF
Lot
0.05 ac (2,000 SF)
APN
59-097-00-0021
UPID
US63-1266669
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
$970,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$855,000
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
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
1936
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
0.05 ac
Current owner
From public records · entity-resolved
Turhan Family Trust
Trust
Mailing address
48 E PARK AVE, LONG BEACH, NY 11561-3504
Ownership since
2016
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
Apr 21, 2016
—
Turhan Family Trust
Turhan,mustafa & Guler
Quit Claim Deed
related
—
Aug 12, 1994
$169,238
M Samet
Ferrara,a
Grant Deed
—
—
—
Mustafa Turhan
—
Deed Of Trust
related
$130,000 · North Fork 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
