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

    685 Hempstead Tpke Elmont, NY 11003

    • Grocery and convenience stores
    • 312 SF
    • 0.49 lot acres
    OFF-MARKET
    Last Sale
    Dec 18, 2024
    $1,200,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1405542
    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

    • Grocery and convenience stores

    Property Details for 685 Hempstead Tpke

    Year built
    1973
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.49 lot acres
    Property size
    312 SF
    Property type
    Grocery and convenience stores
    APN
    32-464-00-0001
    APU
    32464000001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Elmont
    County
    Nassau
    State
    New York
    Longitude
    -73.7017
    Latitude
    40.7071
    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
    2024
    $43,664
    $6,363
    $7,480
    $13,843
    -
    $0.00
    $0.00
    $1,384,300

    Comparable in this City

    • Value Estimation
      $1,655,000
      4,140 SF

      2115 Linden Blvd

      CONVENIENCE STORE (W/FUEL PUMP) • 4,140 SF
      2115 Linden Blvd, Elmont, NY 11003-3914
      View Details
    • Value Estimation
      $540,000
      1,350 SF

      1606 Dutch Broadway

      CONVENIENCE STORE (W/FUEL PUMP) • 1,350 SF
      1606 Dutch Broadway, Elmont, NY 11003
      View Details
    • Value Estimation
      $900,000
      912 SF

      840 Elmont Rd

      CONVENIENCE STORE (W/FUEL PUMP) • 912 SF
      840 Elmont Rd, Elmont, NY 11003-4026
      View Details
    • Value Estimation
      $1,815,000
      7,721 SF

      1285 Hempstead Tpke

      GROCERY, SUPERMARKET • 7,721 SF
      1285 Hempstead Tpke, Elmont, NY 11003-1122
      View Details
    • Value Estimation
      $720,000
      1,675 SF

      244 Linden Blvd

      CONVENIENCE STORE (W/FUEL PUMP) • 1,675 SF
      244 Linden Blvd, Elmont, NY 11003-4021
      View Details
    • Value Estimation
      $800,000
      1,891 SF

      535 Hempstead Tpke

      CONVENIENCE STORE (W/FUEL PUMP) • 1,891 SF
      535 Hempstead Tpke, Elmont, NY 11003-1709
      View Details

    Similar Nearby for Sale

    • $4,999,999
      7,200 SF

      Prime Commercial Property Near UBS Arena

      Versatile commercial property near UBS Arena with retail and parking.
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    • $100,000
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      Elmont Retail Business For Sale

      Retail business with existing inventory for sale in Elmont.
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      10,000 SF

      Elmont Retail Property For Sale

      Retail property in Elmont, New York with high traffic volume.
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    • $5,250,000

      Elmont Retail Property - $5.25M

      Prime Retail Space, High Traffic Area
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    • $2,500,000
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      Elmont Commercial Investment Opportunity

      Commercial property in Elmont, NY, suitable for retail or restaurant.
      1285 Hempstead Tpke, Elmont, NY 11003
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      Elmont Mixed-Use Investment Opportunity

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    Similar Nearby for Lease

    • Contact for pricing
      1,525 SF

      Retail Space on Dutch Broadway

      Retail space with high visibility and ample parking available.
      1615-1631 Dutch Broadway, Elmont, NY 11003
      View Details
    • Contact for pricing
      8,250 SF

      Elmont Medical Office Space For Lease

      8,250 SF Medical Office - High Visibility
      24111 Linden Blvd, Elmont, NY 11003
      View Details
    • Contact for pricing
      1,525 SF

      Prime Medical Office Space, Elmont, NY

      1,525 SF Medical Office - Fully Vacant
      1625 Dutch Broadway, Valley Stream, NY 11003
      View Details
    • $1,000 /Mo
      1,000 SF

      Elmont Office Space For Rent

      Office space in prime Elmont location, utilities included.
      474 Meacham Ave, Elmont, NY 11003
      View Details
    • $3,000 /Mo
      1,000 SF

      Elmont Office Space For Rent

      1000 sq ft office/storage space in prime Elmont location.
      474 Meacham Ave, Elmont, NY 11003
      View Details
    • Contact for pricing
      50,000 SF

      Elmont Office Space Available

      50000 square feet of office space for rent.
      277 Hempstead Tpke, Elmont, NY 11003
      View Details

    Property Visit Statistics

    • Visits by month
      26.0k
    • Visitors by month
      15.2k
    • Avg Time on site
      18 min
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    Elmont, NY 11003
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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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