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    631 Park Ave Long Beach, NY 11561-2512
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    Property profile & analytics

    631 Park Ave, Long Beach, NY 11561-2512

    View on Map
    • Investment properties
    • 4,146 SF
    • 0.23 lot acres
    Off-Market
    Property ID
    US63-2598512
    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.
    Value Estimations
    $2,910,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Two Guys Heating & Cooling / HVAC Service / General Contractor
    • The Bungalow / Restaurant

    Property Details for 631 Park Ave

    Year built
    1922
    Construction
    FRAME
    Lot size
    0.23 lot acres
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    59-229-00-0016
    APU
    59229000016

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 24, 2016 $1,975,000 631 E Park Ave LLC 631 East Park Avenue Realty Corp Bargain And Sale Deed —
    — — 631 East Park Avenue Realty Co — Deed Of Trust · related $1.3M · Washington Mutual Fsb

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,685,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $3,635,000
      Change: +36% Conversion: Difficult
      OFFICE BUILDING
      $2,925,000
      Change: +9% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,725,000
      Change: +2% Conversion: Difficult
      RETAIL STORES
      $2,365,000
      Change: -12% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Long Beach
    County
    Nassau
    State
    New York
    Longitude
    -73.6453
    Latitude
    40.5891
    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
    $50,707
    $3,150
    $11,701
    $14,851
    -
    $0.00
    $0.00
    $1,485,100

    Comparable in this City

    • Value Estimation
      $650,000
      3,600 SF

      Beech St

      STORE/OFFICE (MIXED USE)
      Beech St, Long Beach, NY 11561
      View Details
    • Value Estimation
      $740,000
      3,900 SF

      883 Beech St

      STORE/OFFICE (MIXED USE)
      883 Beech St, Long Beach, NY 11561-1515
      View Details
    • Value Estimation
      $1,510,000
      2,160 SF

      475 Long Bch Blvd

      STORE/OFFICE (MIXED USE)
      475 Long Bch Blvd, Long Beach, NY 11561-2233
      View Details
    • Value Estimation by Request
      1,800 SF

      755 Park Ave

      STORE/OFFICE (MIXED USE)
      755 Park Ave, Long Beach, NY 11561
      View Details
    • Value Estimation
      $975,000
      5,400 SF

      110 Grand Blvd

      STORE/OFFICE (MIXED USE)
      110 Grand Blvd, Long Beach, NY 11561-2802
      View Details
    • Value Estimation
      $1,055,000
      4,150 SF

      180 Park Ave

      STORE/OFFICE (MIXED USE)
      180 Park Ave, Long Beach, NY 11561-3510
      View Details

    Similar Nearby for Sale

    • New
      $6,999,999
      0.11 Acres

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      Renovated in 2025, the property combines 10 apartments and four storefronts with an on-site tenant laundry room.
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    • $1,150,000
      Pending

      Long Beach Mixed-Use Building

      Prime location, grocery store with vacant upstairs, near beach.
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      View Details
    • $1,150,000

      Mixed-Use Building Near Beach

      Grocery store with residential potential near the beach.
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    • $649,875
      Pending

      Renovated Office/Convertible Single Family

      Renovated doctor's office, convertible to single-family home.
      714 E Park Ave, Long Beach, NY 11561
      View Details
    • Contact for pricing
      7,200 SF

      Long Beach Office Building

      7,200 SF office building for sale in Long Beach.
      60 W Park Ave, Long Beach, NY 11561
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    Similar Nearby for Lease

    • $3,500 /Mo

      Bright Upper Unit Near Beach

      Spacious, light-filled upper unit with modern amenities near the beach.
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      View Details
    • $3,300 /Mo

      Well-Maintained Long Beach Unit

      Spacious 2-bedroom unit in the heart of Long Beach.
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    • Contact for pricing
      1,300 SF

      Spacious Apartment with Outdoor Amenities

      Sun-drenched first-floor apartment with modern upgrades and outdoor space.
      433 West Park Ave, Long Beach, NY 11561
      View Details
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    Long Beach, NY 11561-2512
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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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