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    Property profile & analytics

    505 Jericho Tpke Mineola, NY 11501-1132

    • Auto shops
    • 3,764 SF
    • 0.50 lot acres
    OFF-MARKET
    Last Sale
    Feb 06, 2023
    $3,000,000
    Value Estimations
    $2,940,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0092777
    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

    • Barnwell House Of Tires / (Bike/Boat/Book/etc) Store / Auto Parts Store
    • Goodyear Tires / (Bike/Boat/Book/etc) Store / Auto Parts Store

    Property Details for 505 Jericho Tpke

    Year built
    1966
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.50 lot acres
    Property size
    3,764 SF
    Property type
    Auto shops
    APN
    09-034-00-0028
    APU
    9034000028

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,925,000
      ML approach
      $3,115,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,634,000
      Market price range: $1.21M - $4.24M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $2,475,000
      Current use
      COMMERCIAL (GENERAL)
      $3,905,000
      Change: +58% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $3,300,000
      Change: +33% Conversion: Difficult
      OFFICE BUILDING
      $3,020,000
      Change: +22% Conversion: Difficult
      RETAIL STORES
      $2,775,000
      Change: +12% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mineola
    County
    Nassau
    State
    New York
    Longitude
    -73.6555
    Latitude
    40.744
    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
    $48,285
    $8,217
    $0.00
    $8,217
    -
    $0.00
    $0.00
    $821,700

    Comparable in this City

    • Value Estimation
      $870,000
      4,200 SF

      188-190 Herricks Rd

      AUTO REPAIR, GARAGE • 4,200 SF
      188-190 Herricks Rd, Mineola, NY 11501
      View Details
    • Value Estimation
      $1,330,000
      5,250 SF

      100 Windsor Ave

      AUTO REPAIR, GARAGE • 5,250 SF
      100 Windsor Ave, Mineola, NY 11501-1922
      View Details
    • Value Estimation by Request
      206 SF

      380 Sagamore Ave

      AUTO REPAIR, GARAGE • 206 SF
      380 Sagamore Ave, Mineola, NY 11501-1920
      View Details
    • Value Estimation
      $1,020,000
      1,134 SF

      353 Sagamore Ave

      AUTO REPAIR, GARAGE • 1,134 SF
      353 Sagamore Ave, Mineola, NY 11501-1919
      View Details
    • Value Estimation
      $1,110,000
      4,686 SF

      182 Herricks Rd

      AUTO REPAIR, GARAGE • 4,686 SF
      182 Herricks Rd, Mineola, NY 11501-2206
      View Details
    • Value Estimation
      $790,000
      1,200 SF

      202 Herricks Rd

      AUTO REPAIR, GARAGE • 1,200 SF
      202 Herricks Rd, Mineola, NY 11501-2206
      View Details

    Similar Nearby for Sale

    • $900,000
      1,440 SF

      High-Visibility Corner Retail Building

      Free-standing building on Jericho Turnpike with high traffic exposure.
      99 E Jericho Tpke, Mineola, NY 11501
      View Details
    • $1,430,000
      0.04 Acres

      Established Deli and Catering Business

      Thriving deli and catering business with property in high-traffic area.
      160 Jericho Tpke, Mineola, NY 11501
      View Details
    • $3,200,000
      7,200 SF

      Mineola Retail Space - Prime Location

      High-traffic retail building, 7200 sq ft, dual occupancy.
      465 Jericho Tpke, Mineola, NY 11501
      View Details
    • $1,300,000
      1,440 SF

      Mineola Commercial Redevelopment Opportunity

      Prime Mineola location, 11,700 sq ft lot, 1,440 sq ft building.
      400 Herricks Rd, Mineola, NY 11501
      View Details
    • $899,999
      Pending

      Mineola Two-Family Home

      Well-maintained two-family home near Mineola LIRR station.
      236 Jackson Ave, Mineola, NY 11501
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      77,466 SF

      Mineola Commercial Space For Rent

      Commercial space available near shops, services, and county courts.
      211 Station Rd, Mineola, NY 11501
      View Details
    • $4,000 /Mo

      Mineola Commercial Space For Rent

      2,200 sq ft commercial space ideal for showroom/retail/storage.
      230 Herricks Rd, Mineola, NY 11501
      View Details
    • $29 SF/Yr
      3,140 SF

      Mineola Office Space For Rent

      Office space with restaurant, concierge, and parking near train.
      170 Old Country Rd, Mineola, NY 11501
      View Details
    • Contact for pricing

      Retail/Restaurant Space For Lease

      Retail or restaurant space available for lease.
      199 2Nd St, Mineola, NY 11501
      View Details
    • $26 SF/Yr
      3,600 SF

      Retail Space on Jericho Turnpike

      Retail space for rent on a highly visible, busy street.
      214 E Jericho Tpke, Mineola, NY 11501
      View Details
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    Mineola, NY 11501-1132
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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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