54 Main StHempstead, NY 11550

Property Details for 54 Main St

Year built

1910

Construction

FRAME

Lot size

0.12 AC

Property size (Sq ft)

4,282 SF

Property type

Office buildings

APN

34-340-00-0019

APU

34340000019

Description

This exceptional three-story commercial building, situated in the heart of downtown Hempstead, NY, presents a unique investment opportunity. Boasting 13,290 square feet of space, this former landmark bank building offers high ceilings (26 feet), providing ample room for a variety of uses. The building features two elevators and three floors, each approximately 5,000 square feet, plus a finished basement. Three-phase power is already installed, simplifying potential renovations. Low property taxes represent a significant advantage. Preliminary architectural drawings exist for a conversion into thirteen residential apartments and one street-level commercial space

• CAP approach

  CAP return

  Valuation

  6%

  $907,088

  6.5%

  $837,312

  7%

  $777,504

• Comparable approach

  Method

  Valuation

  Relative Method

  $559,486

  Geo Method

  $559,486

• Alternative Use

  Use

  Valuation

  Residential

  $1,038,267

  Hospitality

  $951,047

  Educational

  $791,260

  Medical

  $818,473

  Retail

  $1,230,849

Location Insight

City

Hempstead

County

Nassau

State

New York

Latitude

40.7082

Longitude

-73.6242

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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