700 Woodfield RdWest Hempstead, NY 11552

Property Details for 700 Woodfield Rd

Year built

1964

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.75 AC

Property size (Sq ft)

10,000 SF

Property type

Grocery and convenience stores

APN

35-436-00-0739

APU

35436000739

Description

This exceptional 10,000-square-foot vacant retail building presents a remarkable investment opportunity in West Hempstead, NY. Located at 700 Woodfield Road, this single-story, freestanding structure sits on a sizable 0.75-acre lot (32,501 sq ft) and boasts 13-foot ceilings, offering significant flexibility for various uses. Previously operating as a supermarket, the property includes a full 10,000-square-foot basement with multiple walk-in refrigerators and freezers, ideal for food-related businesses or adaptable to other needs. The building's dimensions are 100' x 100', allowing for potential subdivision. Benefitting from tremendous exposure with 163 feet of frontage on Woodfield Road, just south of Eagle Avenue and directly across from the Lakeview Long Island Railroad Station, this location ensures high visibility and accessibility. Conveniently situated near major thoroughfares, including Hempstead Avenue and the Southern State Expressway, the property enjoys easy access for both customers and employees. The surrounding area demonstrates strong demographics, with over 262,439 residents within a three-mile radius and an average household income exceeding $170,000. The property is zoned for Light Manufacturing, further expanding its potential uses. This is a prime opportunity to acquire a versatile, well-located commercial property in a thriving market. The asking price is $2,900,000.

• CAP approach

  CAP return

  Valuation

  6%

  $2,430,349

  6.5%

  $2,243,399

  7%

  $2,083,156

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,292,632

  Geo Method

  $3,292,632

• Alternative Use

  Use

  Valuation

  Residential

  $1,892,391

  Hospitality

  $1,733,420

  Educational

  $1,442,185

  Medical

  $1,491,784

  Retail

  $2,243,399

Location Insight

City

West Hempstead

County

Nassau

State

New York

Latitude

40.6858

Longitude

-73.6529

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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