81 Glen Cove AveGlen Cove, NY 11542

Property Details for 81 Glen Cove Ave

Year built

1918

Construction

FRAME

Lot size

0.50 AC

Property size (Sq ft)

3,956 SF

Property type

Auto shops

APN

21-009-00-0308

APU

21009000308

Description

This exceptional investment opportunity presents a well-established, 100% occupied auto shop at 81 Glen Cove Avenue, Glen Cove, NY 11542. The property, a Class B building constructed in 1908 and renovated in 2001, boasts a desirable location directly off Route 107, providing excellent visibility and convenient access to Route 495. The 0.51-acre lot includes a two-story, 1-building structure with high ceilings and features a spray booth, sewer connection, and tow license. The current owner-user operation has enjoyed over 30 years of success and upward trending sales, making this an attractive proposition for both investors and end-users. The property's strategic location within Glen Cove, a city with six existing auto dealerships, further enhances its potential. The existing building sits on a substantial lot with additional wooded land behind the shop, offering potential for future development and expansion. This turnkey operation is offered at $2,950,000 and presents a rare chance to acquire a superior location with steadily increasing returns in a thriving market. The property is zoned for retail use and is an essential business.

• CAP approach

  CAP return

  Valuation

  6%

  $961,446

  6.5%

  $887,489

  7%

  $824,097

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,302,565

  Geo Method

  $1,302,565

• Alternative Use

  Use

  Valuation

  Residential

  $748,630

  Hospitality

  $685,741

  Educational

  $570,528

  Medical

  $590,150

  Retail

  $887,489

Location Insight

City

Glen Cove

County

Nassau

State

New York

Latitude

40.8597

Longitude

-73.6336

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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