Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    489 Merrick Rd Valley Stream, NY 11580-5236

    • Auto shops
    • 1,350 SF
    • 0.24 lot acres
    OFF-MARKET
    Value Estimations
    $220,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0252047
    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

    • One stop auto sales nyc / Wheel Alignment Service / Auto Repair Shop

    Property Details for 489 Merrick Rd

    Year built
    1952
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.24 lot acres
    Property size
    1,350 SF
    Property type
    Auto shops
    APN
    37-596-00-0010
    APU
    37596000010

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $215,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $242,000
      Market price range: $54.4k - $257k

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

    Location Insight

    • Map
    • Local Demand
    City
    Valley Stream
    County
    Nassau
    State
    New York
    Longitude
    -73.7153
    Latitude
    40.6697
    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
    $37,187
    $3,466
    $1,376
    $4,842
    -
    $0.00
    $0.00
    $484,200

    Comparable in this City

    • Value Estimation
      $105,000
      1,542 SF

      42 Merrick Ctrd1

      AUTO REPAIR, GARAGE • 1,542 SF
      42 Merrick Ctrd1, Valley Stream, NY 11580
      View Details
    • Value Estimation by Request
      1,200 SF

      377 Merrick Rd

      AUTO REPAIR, GARAGE • 1,200 SF
      377 Merrick Rd, Valley Stream, NY 11580
      View Details
    • Value Estimation by Request
      1,000 SF

      79 Merrick Rd

      AUTO REPAIR, GARAGE • 1,000 SF
      79 Merrick Rd, Valley Stream, NY 11580-5909
      View Details
    • Value Estimation
      $180,000
      2,700 SF

      120 Hawthorne Ave

      AUTO REPAIR, GARAGE • 2,700 SF
      120 Hawthorne Ave, Valley Stream, NY 11580-6331
      View Details
    • Value Estimation
      $190,000
      3,444 SF

      241 Merrick Rd

      AUTO REPAIR, GARAGE • 3,444 SF
      241 Merrick Rd, Valley Stream, NY 11580-6028
      View Details
    • Value Estimation
      $170,000
      1,620 SF

      66 Merrick Rd

      AUTO REPAIR, GARAGE • 1,620 SF
      66 Merrick Rd, Valley Stream, NY 11580-5707
      View Details

    Similar Nearby for Sale

    • $2,495,000

      Renovated Automotive Repair Building

      Fully renovated automotive repair building with comfortable office/waiting area.
      176 N Central Ave, Valley Stream, NY 11580
      View Details
    • $450,000

      Established Bar Business For Sale

      Operating bar business with revenue, potential for growth.
      269 West Merrick Rd, Valley Stream, NY 11580
      View Details
    • $1,890,000
      0.10 Acres

      Valley Stream Retail Investment Opportunity

      Retail property near Valley Stream LIRR station for sale.
      159 S Franklin Ave, Valley Stream, NY 11580
      View Details
    • New
      $1,199,000
      0.11 Acres

      Valley Stream Retail Investment Opportunity

      Fully leased retail property in Valley Stream's central business district.
      211 Rockaway Ave, Valley Stream, NY 11580
      View Details
    • $769,000
      3,420 SF

      Valley Stream Commercial Investment Opportunity

      Fully leased three-unit commercial building on a high-visibility corner.
      120 Rockaway Ave, Valley Stream, NY 11580
      View Details
    • $1,500,000

      Mixed-Use Building in Downtown

      6,120 SF mixed-use building in a prime location.
      214 Rockaway Ave, Valley Stream, NY 11580
      View Details

    Similar Nearby for Lease

    • $1,500 /Mo

      New Retail Space in Hempstead

      Brand new retail space available in the heart of Hempstead.
      69 Main St, Hempstead, NY 11580
      View Details
    • Contact for pricing
      75,000 SF

      Merrick Road Office Building, Lynbrook

      Prime Office & Medical Space Available, Immediate Occupancy
      303 Merrick Rd, Valley Stream, NY 11580
      View Details
    • $2,400 /Mo
      Pending

      Valley Stream Storefront Retail Opportunity

      High-visibility storefront in Valley Stream, ideal for retailers and service businesses.
      85 Ocean Ave, Valley Stream, NY 11580
      View Details
    • $2,400 /Mo
      Pending

      Valley Stream Storefront Opportunity

      Prime retail space in high-traffic Valley Stream location.
      87 Ocean Ave, Valley Stream, NY 11580
      View Details
    • $14,000 /Mo
      4,356 SF

      Historic Valley Stream Commercial Building

      Free-standing building in the heart of the business district.
      235 Rockaway Ave, Valley Stream, NY 11580
      View Details
    • $2,400 /Mo
      Pending

      Valley Stream Storefront Retail Opportunity

      Retail space in high-traffic Valley Stream location with great visibility.
      89 Ocean Ave, Valley Stream, NY 11580
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    489 Merrick Rd
    Valley Stream, NY 11580-5236
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.