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    Property profile & analytics

    744 Elmont Rd Elmont, NY 11003-4029

    • Flex space
    • 2,200 SF
    • 0.21 lot acres
    OFF-MARKET
    Last Sale
    Aug 01, 2022
    $950,000
    Value Estimations
    $950,000
    Show details
    Cap Rate Potential
    3%
    Flex space
    Location Intelligence
    Property ID
    US63-1131815
    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

    • Alternative Audio / Electronics & Wireless Store / Auto Parts Store
    • Final Cleaning Sewer & Drain Service Inc. / Plumbing Service / General Contractor
    • Joes Refinishing & Delivery / Furniture & Home Goods
    • Pace Distributors, Inc. / Big Box & Wholesale Store

    Property Details for 744 Elmont Rd

    Year built
    1980
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.21 lot acres
    Property size
    2,200 SF
    Property type
    Flex space
    APN
    32-F02-00-0550
    APU
    32F02000550

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,060,000
      ML approach
      $730,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,046,000
      Market price range: $544k - $2.34M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,325,000
      Current use
      OFFICE BUILDING
      $1,550,000
      Change: +17% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $1,445,000
      Change: +9% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,375,000
      Change: +4% Conversion: Difficult
      RETAIL STORES
      $1,185,000
      Change: -11% Conversion: Moderate
      WAREHOUSE, STORAGE
      $1,105,000
      Change: -17% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Elmont
    County
    Nassau
    State
    New York
    Longitude
    -73.72
    Latitude
    40.692
    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
    $20,366
    $2,257
    $536
    $2,793
    -
    $0.00
    $0.00
    $279,300

    Comparable in this City

    • Value Estimation by Request
      1,100 SF

      1785 Hempstead Tpke

      LIGHT INDUSTRIAL • 1,100 SF
      1785 Hempstead Tpke, Elmont, NY 11003
      View Details
    • Value Estimation by Request
      1,037 SF

      1850 Hempstead Tpke

      LIGHT INDUSTRIAL • 1,037 SF
      1850 Hempstead Tpke, Elmont, NY 11003-1766
      View Details
    • Value Estimation by Request
      3,235 SF

      575 Hempstead Tpke, Unit 581

      LIGHT INDUSTRIAL • 3,235 SF
      575 Hempstead Tpke, Elmont, NY 11003-1801
      View Details
    • Value Estimation
      $20,285,000
      31,170 SF

      2060 Linden Blvd

      MINI-WAREHOUSE, STORAGE • 31,170 SF
      2060 Linden Blvd, Elmont, NY 11003-4005
      View Details
    • Value Estimation
      $740,000
      2,522 SF

      791 Meacham Ave

      DISTRIBUTION WAREHOUSE • 2,522 SF
      791 Meacham Ave, Elmont, NY 11003-4718
      View Details
    • Value Estimation
      $900,000
      4,740 SF

      250 Meacham Ave

      DISTRIBUTION WAREHOUSE • 4,740 SF
      250 Meacham Ave, Elmont, NY 11003-3208
      View Details

    Similar Nearby for Sale

    • $2,650,000

      Three-Story Warehouse and Office Space

      Three-story warehouse and office space with loading docks and parking.
      200 Meacham Ave, Elmont, NY 11003
      View Details
    • $1,050,000
      Pending

      Elmont Warehouse with Office Space

      Warehouse space with office, bathrooms, high ceilings, and parking.
      19 Hillsboro Ave, Elmont, NY 11003
      View Details
    • $1,400,000
      2,354 SF

      Spacious Multi-Family Home in Elmont

      Multi-family home with 8 bedrooms, finished basement, and outdoor spaces.
      431 Kirkman Ave, Elmont, NY 11003
      View Details
    • New
      $1,325,000
      0.20 Acres

      Legal Two-Family Residence in Elmont

      Two-family residence with flexible layout, finished basement, and detached garage.
      376 Hunnewell Ave, Elmont, NY 11003
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    • $2,500,000
      0.27 Acres

      Elmont Commercial Investment Opportunity

      Commercial property in Elmont, NY, suitable for retail or restaurant.
      1285 Hempstead Tpke, Elmont, NY 11003
      View Details
    • $2,650,000
      4,290 SF

      Elmont Commercial Building - Huge Potential

      Prime Elmont location, 4,290 sq ft, 3 floors.
      200 Meacham Ave, Elmont, NY 11003
      View Details

    Similar Nearby for Lease

    • $7,950 /Mo
      11,600 SF

      Elmont Commercial Land For Rent

      Centrally located land parcel with easy access to major parkways.
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      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
    • Contact for pricing
      4,200 SF

      Modern Office Space Available

      Renovated office space with modern features and excellent location.
      1975 Linden Blvd, Elmont, NY 11003
      View Details
    • Contact for pricing
      6,000 SF

      Renovated Office Space Near Highways

      Fully renovated office space with convenient highway access.
      570 Elmont Rd, Elmont, 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
    • 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
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    744 Elmont Rd
    Elmont, NY 11003-4029
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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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