950 Jericho TpkeWestbury, NY 11590

Property Details for 950 Jericho Tpke

Year built

1958

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.14 AC

Property size (Sq ft)

1,568 SF

Property type

Office buildings

APN

11-372-00-0016

APU

11372000016

Description

This exceptional investment opportunity presents a two-story, 2,906 square foot office building situated on a 6,150 square foot lot at 950 Jericho Turnpike in Westbury, New York, zip code 11590. Built in 1958, the property boasts excellent visibility and signage on a heavily trafficked thoroughfare, benefiting from easy access to the Long Island Expressway and Northern State Parkway. Currently configured as a multi-tenant building, the first floor houses four tenants on month-to-month leases, while the second floor features a single tenant with a private entrance, also on a month-to-month lease. The building can be delivered vacant, offering flexibility for the new owner. The property includes 12 parking spaces and is zoned for Business A use. With a total asking price of $1,450,000, this translates to a price per square foot of $498.97. This lender-owned property presents a compelling opportunity for investors seeking a well-located, adaptable commercial space in a thriving Nassau County market. The building's existing tenant structure provides immediate income potential, while the vacant delivery option allows for complete customization and repositioning to suit a variety of business needs.

• CAP approach

  CAP return

  Valuation

  6%

  $259,237

  6.5%

  $239,296

  7%

  $222,203

• Comparable approach

  Method

  Valuation

  Relative Method

  $204,875

  Geo Method

  $204,875

• Alternative Use

  Use

  Valuation

  Residential

  $296,727

  Hospitality

  $271,800

  Educational

  $226,135

  Medical

  $233,912

  Retail

  $351,765

Location Insight

City

Westbury

County

Nassau

State

New York

Latitude

40.7757

Longitude

-73.5681

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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