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    Property profile & analytics

    491 Hempstead Tpke, Unit 93 Elmont, NY 11003-1709

    • Retail space
    • 2,678 SF
    • 0.09 lot acres
    OFF-MARKET
    Value Estimations
    $860,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1900722
    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

    • Conway Roofing Company / Roofing Company / General Contractor
    • Uniondale Locksmith / Locksmith

    Property Details for 491 Hempstead Tpke

    Year built
    1932
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.09 lot acres
    Property size
    2,678 SF
    Property type
    Retail space
    APN
    32-441-00-0201
    APU
    32441000201

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $885,000
      6.5%
      $815,000
      7%
      $760,000

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,345,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Elmont
    County
    Nassau
    State
    New York
    Longitude
    -73.7093
    Latitude
    40.708
    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
    $38,668
    $1,292
    $4,400
    $5,692
    -
    $0.00
    $0.00
    $569,200

    Comparable in this City

    • Value Estimation
      $595,000
      1,330 SF

      1268 Hempstead Tpke

      RETAIL STORES (PERSONAL SERVICES) • 1,330 SF
      1268 Hempstead Tpke, Elmont, NY 11003-1144
      View Details
    • Value Estimation
      $835,000
      2,724 SF

      1324 Hempstead Tpke

      RETAIL STORES (PERSONAL SERVICES) • 2,724 SF
      1324 Hempstead Tpke, Elmont, NY 11003-1127
      View Details
    • Value Estimation by Request
      638 SF

      1309-1311 Hempstead Tpke

      RETAIL STORES (PERSONAL SERVICES) • 638 SF
      1309-1311 Hempstead Tpke, Elmont, NY 11003
      View Details
    • Value Estimation
      $680,000
      2,915 SF

      490-494 Hempstead Tpke

      RETAIL STORES (PERSONAL SERVICES) • 2,915 SF
      490-494 Hempstead Tpke, Elmont, NY 11003
      View Details
    • Value Estimation
      $865,000
      1,520 SF

      1481 Hempstead Tpke, Unit 93

      RETAIL STORES (PERSONAL SERVICES) • 1,520 SF
      1481 Hempstead Tpke, Elmont, NY 11003-2436
      View Details
    • Value Estimation
      $660,000
      2,218 SF

      1301-1303 Hempstead Tpke

      RETAIL STORES (PERSONAL SERVICES) • 2,218 SF
      1301-1303 Hempstead Tpke, Elmont, NY 11003
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10,000 SF

      Elmont Retail Property For Sale

      Retail property in Elmont, New York with high traffic volume.
      333 Hempstead Tpke, Elmont, NY 11003
      View Details
    • Contact for pricing

      Elmont Commercial Property For Sale

      8,800 SF commercial property with two retail storefronts and parking.
      1529 Hempstead Tpke, Elmont, NY 11003
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    • $4,999,999
      7,200 SF

      Prime Commercial Property Near UBS Arena

      Versatile commercial property near UBS Arena with retail and parking.
      1529 Hempstead Tpke, Elmont, NY 11003
      View Details
    • New
      $2,500,000
      0.27 Acres

      Elmont Commercial Investment Opportunity

      Commercial property for sale in Elmont, NY.
      1285 Hempstead Tpke, Elmont, NY 11003
      View Details
    • $1,279,000
      Pending

      Spacious Multi-Family Home in Elmont

      Meticulously maintained multi-family home near highways and downtown Elmont.
      77 Lucille Ave, Elmont, NY 11003
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,525 SF

      Retail Space on Dutch Broadway

      Retail space with high visibility and ample parking available.
      1615-1631 Dutch Broadway, Elmont, NY 11003
      View Details
    • Contact for pricing

      High-Visibility Commercial Space Available

      Prime location with high traffic and private parking.
      1717 Hempstead Tpke, Hempstead, NY 11003
      View Details
    • Contact for pricing
      50,000 SF

      Elmont Office Space Available

      50000 square feet of office space for rent.
      277 Hempstead Tpke, Elmont, NY 11003
      View Details
    • $7,950 /Mo
      11,600 SF

      Elmont Commercial Land For Rent

      Centrally located land parcel with easy access to major parkways.
      786 Elmont Rd Elmont Rd, Elmont, NY 11003
      View Details
    • Contact for pricing
      4,200 SF

      Modern Office Space Available

      Renovated office space with modern features and excellent location.
      1975 Linden Blvd, Elmont, NY 11003
      View Details
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    Elmont, NY 11003-1709
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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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