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

    8 Is Pkwy Island Park, NY 11558-1533

    • Apartment buildings
    • 2,170 SF
    • 0.24 lot acres
    OFF-MARKET
    Value Estimations
    $2,105,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-5574431
    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

    • Pioneer Roofing Repair / Roofing Company / General Contractor

    Property Details for 8 Is Pkwy

    Year built
    1963
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.24 lot acres
    Property size
    2,170 SF
    Property type
    Apartment buildings
    APN
    43-015-00-0064
    APU
    43015000064

    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
    Island Park
    County
    Nassau
    State
    New York
    Longitude
    -73.6559
    Latitude
    40.6067
    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
    $54,311
    $1,620
    $13,458
    $15,078
    -
    $0.00
    $0.00
    $1,507,800

    Comparable in this City

    • Value Estimation
      $2,200,000
      5,910 SF

      71 Nassau Ln

      APARTMENT HOUSE (5+ UNITS) • 5,910 SF
      71 Nassau Ln, Island Park, NY 11558-1523
      View Details
    • Value Estimation
      $825,000
      500 SF

      9 Bch Walk

      APARTMENT HOUSE (5+ UNITS) • 500 SF
      9 Bch Walk, Island Park, NY 11558-1066
      View Details
    • Value Estimation
      $970,000
      2,300 SF

      117-119 Trafalgar Blvd

      APARTMENT HOUSE (5+ UNITS) • 2,300 SF
      117-119 Trafalgar Blvd, Island Park, NY 11558
      View Details
    • Value Estimation
      $3,845,000
      11,100 SF

      41 Quebec Rd

      APARTMENT HOUSE (5+ UNITS) • 11,100 SF
      41 Quebec Rd, Island Park, NY 11558-2137
      View Details
    • Value Estimation
      $3,150,000
      9,130 SF

      53 Quebec Rd, Unit 69

      APARTMENT HOUSE (5+ UNITS) • 9,130 SF
      53 Quebec Rd, Island Park, NY 11558-2130
      View Details
    • Value Estimation
      $17,555,000
      15,795 SF

      125 Broadway

      HIGH-RISE APARTMENTS • 15,795 SF
      125 Broadway, Island Park, NY 11558-1794
      View Details

    Similar Nearby for Sale

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      Pending

      Updated Two-Family Home in Island Park

      Charming, legal two-family home in Island Park, Nassau County, NY.
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    • $874,999

      Renovated Two-Family Home Near LIRR

      Two renovated units with private outdoor spaces and income potential.
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    • New
      $777,000
      Pending

      Renovated Two-Family Home with Basement

      Legal two-family home with basement and tenant-occupied apartment.
      19 Parma Rd, Island Park, NY 11558
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    • $809,999
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      Island Park Two-Family Home

      Two-family home in Island Park near Long Beach.
      64 Kent Rd, Island Park, NY 11558
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    • $1,950,000

      Island Park Land For Sale

      Commercial land available in Island Park, New York.
      4435 Austin Blvd, Island Park, NY 11558
      View Details
    • $1,750,000
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      Waterfront Land Development Opportunity

      Waterfront land for townhouse development with approvals in place.
      Nevada Ave, Island Park, NY 11558
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    Similar Nearby for Lease

    • Contact for pricing
      3,000 SF

      Retail Space in Island Park

      Retail space available in shopping center anchored by Ace Hardware.
      15 Texas Ave, Island Park, NY 11558
      View Details
    • $20 SF/Yr
      7,600 SF

      Island Park Warehouse Space Available

      7,600 SF warehouse space for rent in Island Park.
      4290 Industrial Pl, Island Park, NY 11558
      View Details
    • $4,250 /Mo

      Renovated Office Space Available

      Turn-key office space with complete build-out and modern amenities.
      161 L Long Bch, Island Park, NY 11558
      View Details
    • $1,760 /Mo

      Shared Warehouse Space in Island Park

      Shared warehouse space featuring a 14' garage bay and parking.
      16 Mccarthy Rd, Island Park, NY 11558
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    • $2,200 /Mo
      3,836 SF

      Island Park Warehouse/Office Space

      Warehouse and office space available for lease in Island Park.
      46 Alabama Ave, Island Park, NY 11558
      View Details
    • Contact for pricing
      16,350 SF

      Island Park Warehouse Space

      Industrial/warehouse space available for rent in Island Park, NY.
      4140 Austin Blvd, Island Park, NY 11558
      View Details
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    8 Is Pkwy
    Island Park, NY 11558-1533
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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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