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Property profile & analytics
FOR SALE
Office buildings
585 Broadway, Massapequa, NY 11758
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US63-0259252
For Sale
1 / 2
$3,350,000
585 Broadway, Massapequa, NY 11758
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING (MULTI-STORY)
Year built
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,040 SF
Lot
0.17 ac (7,347 SF)
APN
52-166-00-2705
UPID
US63-0259252
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.19M
Blend (final)
Blend
$2.54M
Owner & transaction history
Klarion Realty LLC · 1 yrs held
Klarion Realty LLC
since 2025
Last sale
$2.7M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.4M
+75.0%
Neighborhood: shopping center
$2.7M
+37.2%
Auto repair, garage
$2.0M
+2.8%
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 Massapequa submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Massapequa 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
$2,710,000
ML approach
$2,500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
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
Blend value · Realmo final
$2.54M
Range $2.29M – $2.79M · ±10% · vs last sale $2.65M (Feb 14 2025)
Last sale anchor
$2.65M
Feb 14 2025
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
$836 / 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
$64,895
Tax year 2023
Assessed value
$8,088
Assessed 2023
Previous assessed
$9,992
-19.1% YoY
Effective rate
802.36%
On assessed value
Assessed land
$1,457
Assessed improvement
$6,631
Total market value
$808,800
Applied tax rate
564.0000
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
Office buildings
Use group
PROFESSIONAL BUILDING (MULTI-STORY)
Status
For Sale
Year built
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Total area
3,040 SF
Lot
0.17 ac (7,347 SF)
APN
52-166-00-2705
UPID
US63-0259252
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
OFFICE BUILDING Current
Est. value
$1.9M
RETAIL STORES
Est. value
$3.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.0M
OFFICE BUILDING Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
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
1953
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Lot
0.17 ac
Current owner
From public records · entity-resolved
Klarion Realty LLC
Entity
Mailing address
8 LONG ACRE LN, DIX HILLS, NY 11746-7926
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 14, 2025
$2,650,000
Klarion Realty LLC
Jija Real Estate LLC
Bargain & Sale Deed
$1,280,000 · Pnc Bank NA
Jan 21, 2021
—
Jija Real Estate LLC
—
Deed
related
$87,000 · Td Bank NA
Sep 9, 2020
—
Jija Real Estate LLC
—
Deed
related
$605,000 · Columbia Capital Co
Dec 23, 1999
—
569-585 Broadway Associates
Weiss,pamela
Grant Deed
$500,000 · State Bank Of Long Island
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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