701 Nostrand AveUniondale, NY 11553

Property Details for 701 Nostrand Ave

Year built

1935

Construction

FRAME

Lot size

0.43 AC

Property size (Sq ft)

424 SF

Property type

Investment properties

Property subtype

Retail residential properties

APN

50-00M-00-0001

APU

5000M000001

Description

This exceptional mixed-use property at 701 Nostrand Avenue in Uniondale, NY, presents a unique investment opportunity. Situated on a 0.43-acre lot, this highly visible corner location boasts over 20,000 vehicles passing daily, ensuring significant exposure for any business. The property features approximately 1300 square feet of commercial space with 56 feet of frontage on Jerusalem Avenue. Currently, the property includes a separate, income-generating single-family residence, ideal for owner-operator occupancy or workforce housing. Its history as a farm stand and retail establishment speaks to its adaptability and proven commercial viability. The property's zoning, Residence District (B), allows for its current uses and permits accessory uses such as professional office space or senior residences, offering considerable flexibility for future development. This prime location offers easy access to major attractions and entertainment venues, further enhancing its appeal. The combination of high visibility, existing income stream, and flexible zoning makes this a truly one-of-a-kind property with significant potential for growth and return on investment. Priced at $1,150,000, this property represents a compelling opportunity for discerning investors seeking a versatile and profitable asset in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $86,924

  6.5%

  $80,237

  7%

  $74,506

• Comparable approach

  Method

  Valuation

  Relative Method

  $85,870

  Geo Method

  $85,870

• Alternative Use

  Use

  Valuation

  Residential

  $80,237

  Hospitality

  $73,497

  Educational

  $61,149

  Medical

  $63,252

  Retail

  $95,120

Location Insight

City

Uniondale

County

Nassau

State

New York

Latitude

40.6974

Longitude

-73.5863

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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