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

    870 Walt Whitman Rd, Unit 880 Melville, NY 11747-2214

    • Super regional malls
    • 21.10 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1884519
    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

    • Public Lands / Outdoor Sports Store / Bicycle Shop
    • Field & Stream / Outdoor Sports Store / Camping Store

    Property Details for 870 Walt Whitman Rd

    Lot size
    21.10 lot acres
    Zone code
    C5
    Property type
    Super regional malls
    APN
    0400-229.00-01.00-028.001
    APU
    400229000100028001

    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
    Melville
    County
    Suffolk
    State
    New York
    Longitude
    -73.4104
    Latitude
    40.7992
    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
    2020
    $0.00
    $157,500
    $105,500
    $263,000
    -
    $286,364
    $191,818
    $478,182

    Comparable in this City

    • Value Estimation by Request
      2.00 Acres

      712 Walt Whitman Rd, Unit 724

      SHOPPING CENTER, STRIP CENTER • 2.00 Acres
      712 Walt Whitman Rd, Melville, NY 11747-2210
      View Details
    • Value Estimation by Request
      0.33 Acres

      64 Broadhollow Rd, Unit 70

      SHOPPING CENTER, STRIP CENTER • 0.33 Acres
      64 Broadhollow Rd, Melville, NY 11747-2504
      View Details
    • Value Estimation by Request
      1.13 Acres

      627 Broadhollow Rd

      SHOPPING CENTER, STRIP CENTER • 1.13 Acres
      627 Broadhollow Rd, Melville, NY 11747-5006
      View Details
    • Value Estimation by Request
      3.75 Acres

      881 Walt Whitman Rd

      MINI-MALL • 3.75 Acres
      881 Walt Whitman Rd, Melville, NY 11747-2221
      View Details
    • Value Estimation
      $3,305,000
      1.16 Acres

      505 Walt Whitman Rd

      MINI-MALL • 1.16 Acres
      505 Walt Whitman Rd, Huntington Station, NY 11747-2107
      View Details
    • Value Estimation by Request
      8,660 SF

      937 Walt Whitman Rd

      Lifestyle centers • 8,660 SF
      937 Walt Whitman Rd, Melville, NY 11747
      View Details

    Similar Nearby for Sale

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      Melville Retail Land Development Lot

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      Melville Retail and Gas Station

      Gas station with property on a busy prime location.
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      Established Auto Repair Shop For Sale

      Operating auto repair shop with equipment and lease in place.
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      Melville Office Building For Sale

      54,000 SF office building in Melville, NY.
      10 Melville Park Rd, Melville, NY 11747
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    • Contact for pricing
      6,150 SF

      Melville Office Space Available

      Office space with shared amenities in Melville, New York.
      707 Walt Whitman Rd, Melville, NY 11747
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    • $750,000
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      Residential Land in Melville, NY

      Residential land available in Half Hollow Hills School District.
      25 Grossman St, Melville, NY 11747
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    Similar Nearby for Lease

    • Contact for pricing
      11,000 SF

      Retail Space on Walt Whitman

      Retail space available in Melville Mall on Walt Whitman Road.
      712 Walt Whitman Rd, Melville, NY 11747
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    • Contact for pricing
      8,660 SF

      Melville Retail Center - For Lease

      Prime Melville Shopping Center, 6 Suites Available
      937 Walt Whitman Rd, Melville, NY 11747
      View Details
    • Contact for pricing
      12,285 SF

      Melville Retail Center - For Lease

      Prime Suffolk County Shopping Center Space Available
      901 Walt Whitman Rd, Melville, NY 11747
      View Details
    • Contact for pricing
      1,236 SF

      Retail Space on Walt Whitman

      Retail space available in a high-traffic Melville location.
      437-447 Walt Whitman Rd, Melville, NY 11747
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    • $34 SF/Yr
      100,009 SF

      Melville Office and Retail Space

      Upscale cafe and executive fitness center available for rent.
      324 S Service Rd, Melville, NY 11747
      View Details
    • Contact for pricing
      9,136 SF

      Prime Medical Office Space, Suffolk County

      9,136 SF Medical Office for Lease
      505 Walt Whitman Rd, Melville, NY 11747
      View Details

    Property Visit Statistics

    • Visits by month
      137.8k
    • Visitors by month
      81.1k
    • Avg Time on site
      27 min
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    870 Walt Whitman Rd, Unit 880
    Melville, NY 11747-2214
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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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