New search
Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Office buildings
91 Franklin St, Hempstead, NY 11550-3003
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US63-0187052
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,816 SF
Lot
0.3 ac (13,112 SF)
APN
34-292-00-0009
UPID
US63-0187052
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
-
The Workplace Project - Food Distribution Center Food Bank Charitable Organization
-
Monteiro & Fishman LLP Law Firm
-
Aristar Maintenance New York City Window Cleaning Service Carpet Cleaning Service
-
Long Island Painter Painting Service General Contractor
-
Your Injury Practice | Hempstead Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$510k
Comparable Approach
Comparable
$626k
Blend (final)
Blend
$580k
Owner & transaction history
3 5 Covert Bh LLC · 3 yrs held
3 5 Covert Bh LLC
since 2022
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$915,000
+12.8%
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 Hempstead submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hempstead 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%
$555,000
6.5%
$510,000
7%
$475,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$810,000
Current use
WAREHOUSE, STORAGE
$915,000
Change: +13% · Conversion: Difficult
COMMERCIAL (GENERAL)
$790,000
Change: -2% · Conversion: Easy
RETAIL STORES
$770,000
Change: -5% · Conversion: Moderate
Blend value · Realmo final
$580k
Range $522k – $638k · ±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
$319 / 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
$163,751
Tax year 2023
Assessed value
$30,558
Assessed 2023
Previous assessed
$42,479
-28.1% YoY
Effective rate
535.87%
On assessed value
Assessed land
$2,308
Assessed improvement
$28,250
Total market value
$3,055,800
Applied tax rate
399.0000
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
OFFICE BUILDING
Status
Off-Market
Year built
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
CENTRAL
Stories
3
Total area
1,816 SF
Lot
0.3 ac (13,112 SF)
APN
34-292-00-0009
UPID
US63-0187052
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
$810,000
WAREHOUSE, STORAGE
Est. value
$915,000
COMMERCIAL (GENERAL)
Est. value
$790,000
RETAIL STORES
Est. value
$770,000
OFFICE BUILDING Current
WAREHOUSE, STORAGE
COMMERCIAL (GENERAL)
RETAIL STORES
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
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
3
Lot
0.3 ac
Current owner
From public records · entity-resolved
3 5 Covert Bh LLC
Entity
Mailing address
4921 ANNANDALE LN, LITTLE NECK, NY 11362-1303
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 28, 2022
$2,250,000
3 5 Covert Bh LLC
Hempstead Lgl LLC
Bargain & Sale Deed
$2,000,000 · Popular Bank
Feb 13, 2019
—
Hempstead Lgl LLC
—
Deed
related
$380,000 · Empire Nat'l Bk
May 23, 2016
$480,000
Hempstead Lgl LLC
Sumkin Family Limited Partnership X
Bargain & Sale Deed
—
Apr 26, 2016
—
137 Frost Street LLC
—
Trustees Deed
related
$1,500,000 · American Cmnty Bk
Oct 13, 2015
$998,000
137 Frost Street LLC
Je Goldberger Trust
Grant Deed
—
Jul 3, 2012
—
Goldberger Je Trust
Goldberger,joseph & Eva
Quit Claim Deed
—
Mar 15, 2000
$1,650,000
91 Franklin Estates LLC
91 North Franklin Street LLC
Grant Deed
$1,300,000 · Intervest National Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 91 Franklin St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
