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Property profile & analytics
OFF-MARKET
Estimated value
$795,000
Distribution centers
Bishop Rd Island Park, NY 11558
Entity Owned
35-yr Hold
Absentee Owner
Free & Clear
Property ID
US63-2575121
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1975
Construction
STEEL FRAME
Total area
1,368 SF
Lot
1.22 ac (53,143 SF)
APN
43-404-00-0005
UPID
US63-2575121
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$795k
Owner & transaction history
Nicon Development INC · 35 yrs held
Nicon Development INC
since 1991
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.2M
+74.4%
Office building
$965,000
+40.3%
Auto repair, garage
$900,000
+30.7%
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 Island Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Island Park 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
WAREHOUSE, STORAGE
$690,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,200,000
Change: +74% · Conversion: Moderate
OFFICE BUILDING
$965,000
Change: +40% · Conversion: Difficult
AUTO REPAIR, GARAGE
$900,000
Change: +31% · Conversion: Easy
COMMERCIAL (GENERAL)
$885,000
Change: +29% · Conversion: Difficult
RETAIL STORES
$780,000
Change: +13% · Conversion: Moderate
Blend value · Realmo final
$795k
Range $716k – $875k · ±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
$581 / 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
$29,000
Tax year 2023
Assessed value
$9,588
Assessed 2023
Previous assessed
$9,588
+0.0% YoY
Effective rate
302.46%
On assessed value
Assessed land
$2,975
Assessed improvement
$6,613
Total market value
$958,800
Applied tax rate
320.0000
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1975
Construction
STEEL FRAME
Heating
YES
Buildings
2
Stories
1
Total area
1,368 SF
Lot
1.22 ac (53,143 SF)
APN
43-404-00-0005
UPID
US63-2575121
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
WAREHOUSE, STORAGE Current
Est. value
$690,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
OFFICE BUILDING
Est. value
$965,000
AUTO REPAIR, GARAGE
Est. value
$900,000
COMMERCIAL (GENERAL)
Est. value
$885,000
RETAIL STORES
Est. value
$780,000
WAREHOUSE, STORAGE Current
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1975
Construction
STEEL FRAME
Heating
YES
Stories
1
Buildings
2
Lot
1.22 ac
Current owner
From public records · entity-resolved
Nicon Development INC
Entity
Free & Clear · 35 yrs held
Mailing address
3896 LONG BCH RD, ISLAND PARK, NY 11558-1138
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1991
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 15, 1991
$250,000
Nicon Development INC
Unknown
Grant Deed
—
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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