307 Post AveWestbury, NY 11590

Property Details for 307 Post Ave

Year built

1948

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.44 AC

Property size (Sq ft)

6,640 SF

Property type

Investment properties

Property subtype

Retail residential properties

APN

10-181-00-0001

APU

10181000001

Description

This exceptional investment opportunity presents a 9,114-square-foot vacant freestanding retail building situated on a 0.44-acre lot at 307 Post Avenue in Westbury, NY. Previously occupied by a CVS Pharmacy, this single-story, 1948-constructed building offers significant redevelopment potential. The property boasts a prime location within a bustling commercial corridor, ensuring high visibility and substantial vehicular traffic. Its Business B-1 zoning allows for a variety of uses, including retail, medical, or professional office spaces. The ample 17-space parking lot adds to the property's appeal. Located in the vibrant Village of Westbury, this property benefits from a strong mix of residential and commercial development, creating a robust customer base. The fee-simple ownership provides complete control and flexibility for the new owner. This is a rare chance to acquire a well-positioned property in a thriving area, ready for immediate repositioning or redevelopment to suit a wide range of business needs. The asking price is $3,500,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,361,260

  6.5%

  $1,256,548

  7%

  $1,166,794

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,344,753

  Geo Method

  $1,344,753

• Alternative Use

  Use

  Valuation

  Residential

  $1,256,548

  Hospitality

  $1,150,991

  Educational

  $957,611

  Medical

  $990,545

  Retail

  $1,489,617

Location Insight

City

Westbury

County

Nassau

State

New York

Latitude

40.7599

Longitude

-73.5884

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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