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Property profile & analytics
OFF-MARKET
Estimated value
$2,385,000
Individual retail properties
510 Ocean Ave East Rockaway, NY 11518-1208
Entity Owned
5-yr Hold
Free & Clear
Property ID
US63-1451488
Property profile
Verified
Property type
Individual retail properties
Use group
GYM, HEALTH SPA
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
16,621 SF
Lot
0.82 ac (35,589 SF)
APN
38-497-00-0132
UPID
US63-1451488
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
-
SKY Physical Therapy, PLLC Physician
-
Jessica Guzman Physician
-
Brian Fine Physician
-
Jennifer Rogan Physician
-
Queen Divas Body Sculpting & Esthetics Academy High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.42M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.39M
Owner & transaction history
510 Ocean LLC · 5 yrs held
510 Ocean LLC
since 2021
Last sale
$2.4M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 East Rockaway submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs East Rockaway 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
$2,410,000
ML approach
$2,420,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$3,490,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,300,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$3,000,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,635,000
Change: 0% · Conversion: Difficult
RESTAURANT
$2,070,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$2.39M
Range $2.15M – $2.62M · ±10% · vs last sale $2.35M (Feb 9 2021)
Last sale anchor
$2.35M
Feb 9 2021
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
$143 / 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
$103,051
Tax year 2023
Assessed value
$21,973
Assessed 2023
Previous assessed
$14,532
+51.2% YoY
Effective rate
468.99%
On assessed value
Assessed land
$6,751
Assessed improvement
$15,222
Total market value
$2,197,300
Applied tax rate
11.0000
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
Individual retail properties
Use group
GYM, HEALTH SPA
Status
Off-Market
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
16,621 SF
Lot
0.82 ac (35,589 SF)
APN
38-497-00-0132
UPID
US63-1451488
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
Est. value
$3.5M
COMMERCIAL (GENERAL)
Est. value
$3.3M
OFFICE BUILDING
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$2.6M
RESTAURANT
Est. value
$2.1M
RETAIL STORES
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
RESTAURANT
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
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.82 ac
Current owner
From public records · entity-resolved
510 Ocean LLC
Entity
Free & Clear · 5 yrs held
Mailing address
26 BEVERLY RD, GREAT NECK, NY 11021-1330
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 9, 2021
$2,350,000
510 Ocean LLC
Sherwood Road Associates LLC
Bargain And Sale Deed
—
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.
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