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    679 Prt Washington Blvd Port Washington, NY 11050-3733
    Property profile & analytics

    679 Prt Washington Blvd Port Washington, NY 11050-3733

    View on Map
    • Auto shops
    • 1,259 SF
    • 0.16 lot acres
    Off-Market
    Last Sale Mar 22, 2024
    $1,299,000
    Property ID
    US63-2992029
    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
    $1,300,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Pennzoil / Auto Repair Shop

    Property Details for 679 Prt Washington Blvd

    Year built
    1933
    Construction
    FRAME
    Lot size
    0.16 lot acres
    Property size
    1,259 SF
    Property type
    Auto shops
    APN
    06-002-00-0277
    APU
    6002000277

    Description

    This exceptional 1,403-square-foot retail property, situated on a prominent corner lot at 679 Port Washington Boulevard, Port Washington, NY 11050, presents a unique investment opportunity. Built in 1933, this single-story building sits on a 6,500-square-foot lot and offers ample parking with six spaces. The property is zoned Business A by the Town of North Hempstead, within Nassau County. Ideal for a variety of uses, including food service, medical practices, or dry retail establishments, this location benefits from high traffic volume on Port Washington Boulevard and its intersection with Park Avenue. The property's single-tenant occupancy provides ease of management. The building's 1,403 square feet offer a versatile layout adaptable to various business needs. While automotive uses are prohibited, the zoning allows for a range of compatible businesses. Annual property taxes are $17.35 per square foot. This prime location and flexible zoning make this a compelling opportunity for discerning investors seeking a high-visibility retail space in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,300,000
      ML approach
      $1,300,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,411,000
      Market price range: $406k - $1.42M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $825,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,105,000
      Change: +33% Conversion: Difficult
      OFFICE BUILDING
      $890,000
      Change: +7% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $815,000
      Change: -1% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Port Washington
    County
    Nassau
    State
    New York
    Longitude
    -73.6827
    Latitude
    40.8262
    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
    $23,829
    $2,619
    $990
    $3,609
    -
    $0.00
    $0.00
    $360,900

    Comparable in this City

    • Value Estimation
      $620,000
      1,288 SF

      1 Main St

      AUTO REPAIR, GARAGE • 1,288 SF
      1 Main St, Port Washington, NY 11050-2916
      View Details
    • Value Estimation by Request
      4,440 SF

      92 Bayles Ave

      AUTO REPAIR, GARAGE • 4,440 SF
      92 Bayles Ave, Port Washington, NY 11050-3729
      View Details
    • Value Estimation
      $925,000
      3,200 SF

      33 Matinecock Ave

      AUTO REPAIR, GARAGE • 3,200 SF
      33 Matinecock Ave, Port Washington, NY 11050-2102
      View Details
    • Value Estimation
      $695,000
      2,800 SF

      29 Willowdale Ave

      AUTO REPAIR, GARAGE • 2,800 SF
      29 Willowdale Ave, Port Washington, NY 11050
      View Details
    • Value Estimation
      $510,000
      4,510 SF

      320 Main St

      AUTO REPAIR, GARAGE • 4,510 SF
      320 Main St, Port Washington, NY 11050-2738
      View Details
    • Value Estimation
      $755,000
      1,417 SF

      41 Manorhaven Blvd

      AUTO REPAIR, GARAGE • 1,417 SF
      41 Manorhaven Blvd, Port Washington, NY 11050-1609
      View Details

    Similar Nearby for Sale

    • $499,999

      Established Mechanic Shop with Gas

      Turnkey mechanic shop with gas and convenience store for sale.
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      Freestanding Retail Property in Port Washington

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      Retail building with 1,600 SF and five parking spaces.
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      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,000 SF

      Auto Repair Shop For Rent

      Fully built auto repair shop with active DMV license.
      29 Willowdale Ave, Port Washington, NY 11050
      View Details
    • Contact for pricing
      1,781 SF

      Prime Retail/Medical/Professional Space Available

      Retail/Medical/Professional space on Long Island's affluent North Shore.
      110 Main St, Port Washington, NY 11050
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    • $33 SF/Yr

      Prime Retail/Medical Space Available

      Expansive space in Port Washington with dedicated parking.
      118-120 Shore Rd, Port Washington, NY 11050
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    • $4,600 /Mo
      7,379 SF

      Retail Space in Port Washington

      Bright retail space with full basement in prime location.
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      View Details
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    Port Washington, NY 11050-3733
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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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