1844 Lansdowne AveMerrick, NY 11566

Property Details for 1844 Lansdowne Ave

Year built

1953

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.11 AC

Property size (Sq ft)

3,220 SF

Property type

Individual retail properties

APN

55-150-00-0075

APU

55150000075

Description

This exceptional investment opportunity presents three interconnected flex buildings totaling 20,000 square feet, situated on Lansdowne Avenue in Merrick, NY. The property boasts 12,348 square feet of net rentable space, priced at $198 per square foot, and is offered at $3,300,000. Each of the three buildings (6,048 SF, 3,220 SF, and 3,080 SF) features separate ingress/egress and individual gas and electric meters. Building 1834 includes a mezzanine level of 1,944 square feet and a freight elevator. The property benefits from a comprehensive HVAC system, fire sprinklers, and Business zoning. Ample parking is available with 19 on-site spaces supplemented by street parking. Additional features include a kitchen/cafeteria, security cameras and alarm system, Cat 5 networking, updated finishes throughout, and multiple restrooms. The property's annual taxes are $72,856. This is a rare opportunity to acquire a well-maintained, versatile flex space in a desirable location. The property's layout and amenities make it suitable for a variety of businesses. This is a turnkey operation ready for immediate occupancy. Located in Nassau County, NY, with the address 1844 Lansdowne Avenue, Merrick, NY 11566.

• CAP approach

  CAP return

  Valuation

  6%

  $782,572

  6.5%

  $722,374

  7%

  $670,776

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,060,228

  Geo Method

  $1,060,228

• Alternative Use

  Use

  Valuation

  Residential

  $609,350

  Hospitality

  $558,161

  Educational

  $464,384

  Medical

  $480,354

  Retail

  $722,374

Location Insight

City

Merrick

County

Nassau

State

New York

Latitude

40.6613

Longitude

-73.557

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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