Individually Owned Property summary
AI-generated overview
This exceptional mixed-use property at 587 W Merrick Road, Valley Stream, NY 11580, offers a unique investment opportunity. The building, constructed in 1950 and extensively renovated in 2018, boasts a total of 2,214 square feet spread across two stories. The first floor comprises 1,500 square feet of commercial space, ideal for a variety of professional uses, including but not limited to accounting, legal, medical, or retail businesses. A private backyard complements this space. The second floor features a 720-square-foot one-bedroom apartment, providing an additional income stream. This prime location on Merrick Road sits conveniently near the Nassau/Queens border, ensuring high visibility and accessibility. The asking price is $799,000, translating to $360.89 per square foot. This property presents a compelling opportunity for owner-occupants seeking to combine business operations with rental income, or for investors looking for a strong return on investment in a desirable location. The building's recent renovation ensures modern amenities and functionality. This is a rare chance to acquire a well-maintained, income-generating property in a thriving area.
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,494 SF
Lot
0.06 ac (2,460 SF)
APN
37-473-00-0296
UPID
US63-2054494
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$575k
Owner & transaction history
since 2011
1 recorded transaction
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 20 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$575k
Value range
$518k – $633k
±10% around blend
Estimated value / SF
$385 / SF
Confidence
High
20 county-verified comps
Property data
88
Market benchmarks
33
Comparable evidence
100
$518k
blend $575k
$633k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
1,494 SF
Lot area
0.06 ac
Year built
1950
Stories
2
APN
37-473-00-0296
Assessed value
$1,916
Annual tax
$15,055
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$801k
Weighted, 20 comps · high confidence
Evidence
20 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
3.4 mi away · 1,175 SF
3.5 mi away · 1,800 SF
4.1 mi away · 1,800 SF
4.2 mi away · 1,920 SF
4.3 mi away · 1,728 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$575k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 604 sales
$647
-41%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $385/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 20 sales
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2k
Move the market yield to see immediate price impact.
Value / SF
$1
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$121
$2k
$2k
$1k
$134
$3k
$2k
$1k
$147
$3k
$2k
$2k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
20 found
High confidence · county-verified
Closest comparable
$680k
2.8 mi · Mar 2026 · $425/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$15,055
Tax year 2023
Assessed value
$1,916
Assessed 2023
Previous assessed
$1,916
+0.0% YoY
Effective rate
785.75%
On assessed value
Assessed land
$775
Assessed improvement
$1,141
Total market value
$191,600
Applied tax rate
450.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Units
1
Total area
1,494 SF
Lot
0.06 ac (2,460 SF)
APN
37-473-00-0296
UPID
US63-2054494
Jurisdiction
NASSAU
Metro division
NASSAU-SUFFOLK, NY METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
1
Lot
0.06 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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