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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    580 Old Country Rd, Unit 622 Westbury, NY 11590-4512

    • Strip malls
    • 13,564 SF
    • 4.56 lot acres
    OFF-MARKET
    Value Estimations
    $11,855,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1788090
    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

    • JOANN Fabric and Crafts / (Bike/Boat/Book/etc) Store

    Property Details for 580 Old Country Rd

    Year built
    1958
    Lot size
    4.56 lot acres
    Property size
    13,564 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    45-538-00-0037
    APU
    45538000037

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $11,900,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $17,850,000
      Change: +50% Conversion: Difficult
      RESTAURANT
      $12,040,000
      Change: +1% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $11,965,000
      Change: +1% Conversion: Difficult
      OFFICE BUILDING
      $9,570,000
      Change: -20% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Westbury
    County
    Nassau
    State
    New York
    Longitude
    -73.5739
    Latitude
    40.7498
    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
    $526,498
    $38,948
    $30,116
    $69,064
    -
    $0.00
    $0.00
    $6,906,400

    Comparable in this City

    • Value Estimation
      $4,210,000
      4,819 SF

      1065 Old Country Rd

      SHOPPING CENTER, STRIP CENTER • 4,819 SF
      1065 Old Country Rd, Westbury, NY 11590-5640
      View Details
    • Value Estimation
      $10,880,000
      31,605 SF

      595 Old Country Rd, Unit 625

      SHOPPING CENTER, STRIP CENTER • 31,605 SF
      595 Old Country Rd, Westbury, NY 11590-4511
      View Details
    • Value Estimation
      $4,995,000
      5,875 SF

      801 Carman Ave, Unit 841

      SHOPPING CENTER, STRIP CENTER • 5,875 SF
      801 Carman Ave, Westbury, NY 11590-6429
      View Details
    • Value Estimation
      $21,465,000
      105,864 SF

      6000 Brush Holw Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 105,864 SF
      6000 Brush Holw Rd, Westbury, NY 11590-1702
      View Details
    • Value Estimation
      $2,310,000
      10,209 SF

      220 Post Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 10,209 SF
      220 Post Ave, Westbury, NY 11590
      View Details
    • Value Estimation
      $40,190,000
      133,170 SF

      1250 Old Country Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 133,170 SF
      1250 Old Country Rd, Westbury, NY 11590-5624
      View Details

    Similar Nearby for Sale

    • $2,599,999

      Westbury Village Investment Property

      Retail property in Westbury with high traffic and income.
      27 Post Ave, Westbury, NY 11590
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    • $100,000
      1,200 SF

      Westbury Retail Opportunity For Sale

      Retail space available in Westbury, NY. Business opportunity.
      869 Old Country Rd, Westbury, NY 11590
      View Details
    • $2,750,000
      5,778 SF

      Westbury Retail/Office Investment Opportunity

      Commercial property in prime location suitable for retail or offices.
      342 Post Ave, Westbury, NY 11590
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    • $1,200,000

      Westbury Land Parcel For Sale

      Four lots totaling 6,560 SF, ideal for vehicle storage.
      32 Bond St, Westbury, NY 11590
      View Details
    • $1,450,000
      2,906 SF

      Westbury Office Building - $1.45M

      Prime Jericho Turnpike location, 2,906 sq ft.
      950 Jericho Tpke, Westbury, NY 11590
      View Details
    • $625,000
      0.28 Acres

      Prime Redevelopment Site in Westbury

      Corner lot in Westbury available for redevelopment with high visibility.
      899 Old Country Rd, Westbury, NY 11590
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      54,239 SF

      Westbury Retail Space For Rent

      Retail space available in Westbury, Long Island shopping destination.
      920 Merchants Concourse, Westbury, NY 11590
      View Details
    • Contact for pricing
      50,000 SF

      Home Furnishing & Lifestyle Market

      Market of showrooms redefining the home shopping experience.
      1500 Old Country Rd, Westbury, NY 11590
      View Details
    • Contact for pricing
      10,064 SF

      Westbury Restaurant Space Available

      Equipped restaurant space with ample parking and high traffic.
      829 Merrick Ave, Westbury, NY 11590
      View Details
    • Contact for pricing
      1,550 SF

      Retail Space Near Transportation Hubs

      Retail space available near major parkways and train station.
      157 Post Ave, Westbury, NY 11590
      View Details
    • $60 SF/Yr
      1,600 SF

      Westbury Restaurant - Turnkey Opportunity

      Established eatery, high traffic location.
      1610 Old Country Rd, Westbury, NY 11590
      View Details
    • Contact for pricing
      2,983 SF

      Renovated Retail Space Available

      Newly renovated retail building with flexible zoning and great exposure.
      1137-1145 Old Country Rd, Westbury, NY 11590
      View Details

    Property Visit Statistics

    • Visits by month
      15.4k
    • Visitors by month
      12.2k
    • Avg Time on site
      30 min
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    580 Old Country Rd, Unit 622
    Westbury, NY 11590-4512
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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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