587 Merrick RdValley Stream, NY 11580

Property Details for 587 Merrick Rd

Year built

1950

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.06 AC

Property size (Sq ft)

1,494 SF

Property type

Investment properties

Property subtype

Live-work space

APN

37-473-00-0296

APU

37473000296

Description

This exceptional mixed-use property at 587 W Merrick Road, Valley Stream, NY 11580, offers a unique investment opportunity. The building, constructed in 1950 and extensively renovated in 2018, boasts a total of 2,214 square feet spread across two stories. The first floor comprises 1,500 square feet of commercial space, ideal for a variety of professional uses, including but not limited to accounting, legal, medical, or retail businesses. A private backyard complements this space. The second floor features a 720-square-foot one-bedroom apartment, providing an additional income stream. This prime location on Merrick Road sits conveniently near the Nassau/Queens border, ensuring high visibility and accessibility. The asking price is $799,000, translating to $360.89 per square foot. This property presents a compelling opportunity for owner-occupants seeking to combine business operations with rental income, or for investors looking for a strong return on investment in a desirable location. The building's recent renovation ensures modern amenities and functionality. This is a rare chance to acquire a well-maintained, income-generating property in a thriving area.

• CAP approach

  CAP return

  Valuation

  6%

  $247,003

  6.5%

  $228,003

  7%

  $211,717

• Comparable approach

  Method

  Valuation

  Relative Method

  $195,206

  Geo Method

  $195,206

• Alternative Use

  Use

  Valuation

  Residential

  $282,723

  Hospitality

  $258,973

  Educational

  $215,462

  Medical

  $222,873

  Retail

  $335,164

Location Insight

City

Valley Stream

County

Nassau

State

New York

Latitude

40.671

Longitude

-73.718

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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