371 Union AveWestbury, NY 11590

Property Details for 371 Union Ave

Year built

1961

Construction

FRAME

Lot size

0.24 AC

Property size (Sq ft)

1,728 SF

Property type

Office buildings

APN

10-228-00-0318

APU

10228000318

Description

This exceptional 5.5 million dollar commercial property, located at 371 Union Avenue in the heart of Westbury, New York, presents a remarkable investment opportunity. Situated on a corner lot, this property benefits from high foot traffic, making it ideal for a variety of commercial ventures. The existing structure offers significant potential for redevelopment. Imagine the possibilities: a modern luxury apartment complex catering to the growing demand for upscale housing, a vibrant collection of upscale shops and boutiques capitalizing on the area's bustling atmosphere, or a mixed-use development combining residential and commercial spaces. The strategic location within Westbury ensures easy access to major transportation routes, enhancing its appeal to both residents and businesses. This property's prime location and substantial size make it an exceptional canvas for a visionary developer seeking to create a landmark project. The substantial lot size provides ample space for a large-scale development, allowing for creative architectural designs and expansive layouts. This is a rare chance to acquire a highly desirable commercial property in a thriving area with immense potential for significant returns. The property is offered at $5,500,000. Serious inquiries only. The property is zoned for commercial use. Further details regarding zoning regulations and development possibilities are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $285,690

  6.5%

  $263,714

  7%

  $244,877

• Comparable approach

  Method

  Valuation

  Relative Method

  $225,780

  Geo Method

  $225,780

• Alternative Use

  Use

  Valuation

  Residential

  $327,005

  Hospitality

  $299,535

  Educational

  $249,210

  Medical

  $257,780

  Retail

  $387,659

Location Insight

City

Westbury

County

Nassau

State

New York

Latitude

40.7541

Longitude

-73.5847

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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