Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    957 Willis Ave Albertson, NY 11507-1926
    Back to Search
    Property profile & analytics

    957 Willis Ave, Albertson, NY 11507-1926

    View on Map
    • Investment properties
    • 1,500 SF
    • 0.12 lot acres
    Off-Market
    Last Sale Feb 27, 2025
    $1,725,000
    Property ID
    US63-3524948
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Investment properties

    Property Details for 957 Willis Ave

    Year built
    1952
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.12 lot acres
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    09-066-00-1251
    APU
    9066001251

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 27, 2025 $1,725,000 957 Willis Realty LLC 957 Jag Realty LLC Bargain & Sale Deed —
    Jun 16, 2015 $1,000,000 957 Jag Realty LLC Willis Laundromat Ltd Grant Deed $600k · Willis Laundromat Ltd

    Description

    This exceptional mixed-use investment property, located at 957-965 Willis Avenue in Albertson, New York, presents a compelling redevelopment opportunity. Situated on a 0.23-acre lot, this property comprises two buildings totaling 5,020 square feet, with 4,000 square feet of net rentable space. The buildings, constructed in 1957 and renovated in 2000 and 2023, feature a combination of office and retail space, currently divided into four units. The property boasts an impressive 18-car parking lot, a significant asset in this high-traffic area. The location is highly desirable, situated on the busy Willis Avenue thoroughfare at the corner of I.U. Willets Road, offering excellent visibility and accessibility. Close proximity to the Northern State Parkway and Long Island Expressway ensures convenient commuting for both tenants and customers. The property's strong financial performance is highlighted by a current NOI of $118,000 and a 5.91% cap rate. The substantial basement space, approximately 2,500 square feet, offers additional potential for expansion or creative repurposing. This property is priced at $1,998,000, representing a compelling price per square foot of $398.01. This is a rare opportunity to acquire a well-located, income-producing property with significant upside potential in a thriving Long Island community. The property is zoned for mixed-use development, allowing for a variety of potential uses and expansion opportunities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Albertson
    County
    Nassau
    State
    New York
    Longitude
    -73.6488
    Latitude
    40.7699
    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
    $10,118
    $1,654
    $134
    $1,788
    -
    $0.00
    $0.00
    $178,800

    Comparable in this City

    • Value Estimation by Request
      2,016 SF

      53 Albertson Ave

      STORE/OFFICE (MIXED USE)
      53 Albertson Ave, Albertson, NY 11507-2102
      View Details
    • Value Estimation
      $555,000
      1,000 SF

      901 Willis Ave

      STORE/OFFICE (MIXED USE)
      901 Willis Ave, Albertson, NY 11507-1924
      View Details
    • Value Estimation
      $650,000
      3,600 SF

      1111 Willis Ave

      STORE/OFFICE (MIXED USE)
      1111 Willis Ave, Albertson, NY 11507-1230
      View Details
    • Value Estimation
      $715,000
      3,660 SF

      1358 Willis Ave, Unit 1860

      STORE/OFFICE (MIXED USE)
      1358 Willis Ave, Albertson, NY 11507-1228
      View Details
    • Value Estimation
      $1,110,000
      1,596 SF

      1029 Willis Ave

      STORE/OFFICE (MIXED USE)
      1029 Willis Ave, Albertson, NY 11507-1333
      View Details
    • Value Estimation
      $510,000
      2,168 SF

      836-838 Willis Ave

      STORE/OFFICE (MIXED USE)
      836-838 Willis Ave, Albertson, NY 11507
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,660 SF

      Albertson Retail Space For Rent

      Retail space available for lease in Albertson, New York.
      1000-1050 Willis Ave, Albertson, NY 11507
      View Details
    • Contact for pricing
      700 SF

      Professional Office Space For Rent

      Professional office space with parking and private entrance available.
      882 Willis Ave, Albertson, NY 11507
      View Details
    • Contact for pricing
      1,500 SF

      Albertson Office Space For Rent

      Office space with private entrance, utilities included, and ADA-accessibility.
      1125 Willis Ave, Albertson, NY 11507
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    957 Willis Ave
    Albertson, NY 11507-1926
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    957 Willis Ave, Albertson, NY, 11507
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!