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Property profile & analytics
OFF-MARKET
Estimated value
$3,515,000
Office buildings
797 Merrick Ave, East Meadow, NY 11554-4748
Individually Owned
17-yr Hold
Free & Clear
Property ID
US63-5699190
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING (MULTI-STORY)
Year built
1952
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,200 SF
Lot
0.91 ac (39,857 SF)
APN
50-412-00-0030
UPID
US63-5699190
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Dr. Jeffrey Caruso Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.52M
Owner & transaction history
North Shore University Hospita · 17 yrs held
North Shore University Hospita
since 2008
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.6M
+35.6%
Industrial (general)
$5.6M
+35.3%
Auto repair, garage
$5.3M
+29.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs East Meadow submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs East Meadow submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,100,000
Current use
COMMERCIAL (GENERAL)
$5,565,000
Change: +36% · Conversion: Easy
INDUSTRIAL (GENERAL)
$5,550,000
Change: +35% · Conversion: Difficult
AUTO REPAIR, GARAGE
$5,310,000
Change: +29% · Conversion: Difficult
WAREHOUSE, STORAGE
$4,630,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$3.52M
Range $3.16M – $3.87M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$382 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$19,927
Tax year 2023
Assessed value
$33,756
Assessed 2023
Previous assessed
$33,756
+0.0% YoY
Effective rate
59.03%
On assessed value
Assessed land
$9,767
Assessed improvement
$23,989
Total market value
$3,375,600
Applied tax rate
38.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
PROFESSIONAL BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1952
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
9,200 SF
Lot
0.91 ac (39,857 SF)
APN
50-412-00-0030
UPID
US63-5699190
Jurisdiction
NASSAU
Metro division
NASSAU-SUFFOLK, NY METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$4.1M
COMMERCIAL (GENERAL)
Est. value
$5.6M
INDUSTRIAL (GENERAL)
Est. value
$5.6M
AUTO REPAIR, GARAGE
Est. value
$5.3M
WAREHOUSE, STORAGE
Est. value
$4.6M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1952
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.91 ac
Current owner
From public records · entity-resolved
North Shore University Hospita
Individual
Free & Clear · 17 yrs held
Mailing address
145 COMMUNITY DR, GREAT NECK, NY 11021-5502
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 10, 2008
$4,950,000
North Shore University Hospita
Algene Realty Corp
Grant Deed
—
May 24, 1995
—
A Krauss
New,york Telepho
Grant Deed
related
—
—
—
Algene Realty Corp
—
Deed Of Trust
related
$2,339,999 · Key Bank NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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