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

    589 Old Country Rd, Unit 613 Plainview, NY 11803-4901

    • Strip malls
    • 16,490 SF
    • 2.76 lot acres
    OFF-MARKET
    Last Sale
    Jan 22, 2025
    $10,500,000
    Value Estimations
    $11,245,000
    Show details
    Cap Rate Potential
    7.1%
    Strip malls
    Location Intelligence
    Property ID
    US63-1802365
    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

    • Valentino's Comfort Shoes / Shoe Store

    Property Details for 589 Old Country Rd

    Year built
    1955
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.76 lot acres
    Property size
    16,490 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    46-553-00-0031
    APU
    46553000031

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $10,735,000
      ML approach
      $9,730,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $12,720,000
      6.5%
      $11,740,000
      7%
      $10,905,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $11,799,000
      Market price range: $5.73M - $28.5M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $14,465,000
      Current use
      RESTAURANT
      $14,640,000
      Change: +1% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $13,500,000
      Change: -7% Conversion: Easy
      OFFICE BUILDING
      $12,890,000
      Change: -11% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Plainview
    County
    Nassau
    State
    New York
    Longitude
    -73.4935
    Latitude
    40.7708
    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
    $274,534
    $30,297
    $3,462
    $33,759
    -
    $0.00
    $0.00
    $3,375,900

    Comparable in this City

    • Value Estimation by Request
      4,240 SF

      1161-1165 Old Country Rd

      SHOPPING CENTER, STRIP CENTER • 4,240 SF
      1161-1165 Old Country Rd, Plainview, NY 11803
      View Details
    • Value Estimation
      $245,000
      8,000 SF

      998 Old Country Rd

      SHOPPING CENTER, STRIP CENTER • 8,000 SF
      998 Old Country Rd, Plainview, NY 11803-4928
      View Details
    • Value Estimation
      $250,000
      11,759 SF

      1101 Old Country Rd, Unit 1139

      SHOPPING CENTER, STRIP CENTER • 11,759 SF
      1101 Old Country Rd, Plainview, NY 11803-5019
      View Details
    • Value Estimation by Request
      6,380 SF

      1401 Old Country Rd, Unit 1661

      SHOPPING CENTER, STRIP CENTER • 6,380 SF
      1401 Old Country Rd, Plainview, NY 11803-5010
      View Details
    • Value Estimation by Request
      11,715 SF

      657 Old Country Rd, Unit 669

      SHOPPING CENTER, STRIP CENTER • 11,715 SF
      657 Old Country Rd, Plainview, NY 11803-4910
      View Details
    • Value Estimation
      $690,000
      68,534 SF

      447-447ABC Oyster Rd

      SHOPPING CENTER, STRIP CENTER • 68,534 SF
      447-447ABC Oyster Rd, Plainview, NY 11803
      View Details

    Similar Nearby for Sale

    • $999,000
      Pending

      Spacious Two-Family Plainview Residence

      Versatile two-family residence in Plainview offering comfort and convenience.
      622 Old Country Rd, Plainview, NY 11803
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    • Contact for pricing
      47,421 SF

      Plainview Industrial Property For Sale

      47,421 SF industrial property with ample parking in Plainview.
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    • $7,200,000
      33,000 SF

      Prime Medical Office Building, Plainview, NY

      33,000 SF Medical Office Building - $7.2M
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    • $6,499,000
      32,898 SF

      Plainview Office Building For Sale

      Multi-tenant office building with lease-up potential and ample parking.
      700 Old Country Rd, Plainview, NY 11803
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    Similar Nearby for Lease

    • Contact for pricing
      88,118 SF

      Manetto Hill Plaza Retail Space

      Plainview retail center; multiple spaces available.
      0 Manetto Hl Rd. & Country Dr, Plainview, NY 11803
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    • Contact for pricing
      19,552 SF

      Prime Plainview Retail Center

      Three suites available, ample parking.
      998-1054 Old Country Rd, Plainview, NY 11803
      View Details
    • Contact for pricing
      4,700 SF

      Upscale Shopping Center For Rent

      Recently renovated upscale shopping center on Long Island's Gold Coast.
      401-445 S Oyster Bay Rd, Plainview, NY 11803
      View Details
    • Contact for pricing
      10,000 SF

      Retail Space in Plainview

      Retail property for lease in a high-traffic Plainview location.
      1000-1054 Old Country Rd, Plainview, NY 11803
      View Details
    • Contact for pricing
      4,500 SF

      Retail Space in Manetto Hill

      Retail space available in Plainview's Manetto Hill Plaza.
      164 Manetto Hill Rd, Plainview, NY 11803
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space in Manetto Hill

      Retail space available in Plainview's Manetto Hill Plaza.
      14-18 Manetto Hill Rd, Plainview, NY 11803
      View Details
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    589 Old Country Rd, Unit 613
    Plainview, NY 11803-4901
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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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