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

    585 Broadway Massapequa, NY 11758

    • Office buildings
    • 3,040 SF
    • 0.17 lot acres
    For Sale
    View listing
    $3,350,000
    Last Sale
    Feb 14, 2025
    $2,650,000
    Value Estimations
    Cap Rate Potential
    2.1%
    Office buildings
    Location Intelligence
    Property ID
    US63-0259252
    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

    • Kedzior Grazyna / Nursing Agency
    • Brendan Keys / Medical Clinic / Internist
    • Mahjabeen Haq / Practitioner Service Location / Rheumatologist
    • Peter Perdik, MD / Allergist
    • Prof. Charles Miceli / Internist / Practitioner Service Location

    Property Details for 585 Broadway

    Year built
    1953
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.17 lot acres
    Property size
    3,040 SF
    Property type
    Office buildings
    APN
    52-166-00-2705
    APU
    52166002705

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,710,000
      ML approach
      $2,500,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,190,000
      Market price range: $956k - $4.00M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,945,000
      Current use
      RETAIL STORES
      $3,400,000
      Change: +75% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $2,665,000
      Change: +37% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,000,000
      Change: +3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Massapequa
    County
    Nassau
    State
    New York
    Longitude
    -73.4687
    Latitude
    40.6834
    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
    $64,895
    $1,457
    $6,631
    $8,088
    -
    $0.00
    $0.00
    $808,800

    Comparable in this City

    • Value Estimation
      $580,000
      1,830 SF

      878 Broadway

      PROFESSIONAL BUILDING (MULTI-STORY) • 1,830 SF
      878 Broadway, Massapequa, NY 11758-2345
      View Details
    • Value Estimation
      $1,590,000
      2,501 SF

      35 Carmans Rd

      OFFICE BUILDING • 2,501 SF
      35 Carmans Rd, Massapequa, NY 11758-4703
      View Details
    • Value Estimation
      $570,000
      2,414 SF

      105 Grand Ave

      OFFICE BUILDING • 2,414 SF
      105 Grand Ave, Massapequa, NY 11758-4905
      View Details
    • Value Estimation
      $1,720,000
      2,000 SF

      126 Hicksville Rd

      PROFESSIONAL BUILDING (MULTI-STORY) • 2,000 SF
      126 Hicksville Rd, Massapequa, NY 11758-5845
      View Details
    • Value Estimation
      $515,000
      2,604 SF

      5372 Merrick Rd

      OFFICE BUILDING • 2,604 SF
      5372 Merrick Rd, Massapequa, NY 11758-6243
      View Details
    • Value Estimation by Request
      1,296 SF

      5440 Merrick Rd

      OFFICE BUILDING • 1,296 SF
      5440 Merrick Rd, Massapequa, NY 11758-6213
      View Details

    Similar Nearby for Sale

    • $890,888

      Massapequa Freestanding Office Building For Sale

      Freestanding office building in Massapequa with parking and signage.
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    • $3,350,000
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      Medical Office Building For Sale

      Medical office building suitable for medical, retail, or office use.
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    • $1,000,000
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      Massapequa Redevelopment Opportunity

      Prime Retail Space, High Traffic Area
      4340 Merrick Rd, Massapequa, NY 11758
      View Details
    • $1,599,900

      Massapequa Retail Investment Opportunity

      Retail property in high-traffic Massapequa location with income potential.
      4342-4348 Merrick Rd, Massapequa, NY 11758
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    • $164,300

      Vacant Land in Massapequa, NY

      Vacant land, approximately 7,000 SF, in Massapequa, NY.
      45 Carman Mill Rd, Massapequa, NY 11758
      View Details
    • $549,500

      Massapequa Commercial Office Space

      High-Visibility Office, Ample Parking
      5514 Merrick Rd, Massapequa, NY 11758
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      17,899 SF

      Massapequa Office Building For Rent

      Two-story office building with high-end finishes and private parking.
      511 Ocean Ave, Massapequa, NY 11758
      View Details
    • Contact for pricing
      876 SF

      Southgate Shopping Center Retail Space

      Retail and office spaces available within a busy shopping center.
      4900 Merrick Rd, Massapequa, NY 11758
      View Details
    • Contact for pricing
      4,600 SF

      Fully Built-Out Office Space

      Office space with full HVAC, generator, and usable basement.
      524 Hicksville Rd, Massapequa, NY 11758
      View Details
    • $750 /Mo

      Massapequa Private Office Space

      Private office in mixed-use building, utilities included, conference room access.
      5720 Sunrise Hwy, Massapequa, NY 11758
      View Details
    • $3,350 /Mo

      Office Space on Hicksville Road

      Office space for rent in a highly visible location.
      1148 Hicksville Rd, Massapequa, NY 11758
      View Details
    • $600 /Mo

      Massapequa Private Office Space For Rent

      Private office in mixed-use building, utilities included, convenient location.
      5720 Old Sunrise Hwy, Massapequa, NY 11758
      View Details
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    585 Broadway
    Massapequa, NY 11758
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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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