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    279 Baldwin Rd Hempstead, NY 11550

    Sponsored
    For Sale
    $1,400,000

    13-Unit Luxury Apartment Site, Approved

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    399
    This exceptional 14,000 square foot commercial and residential land parcel, located at 279 Baldwin Road (corner of Baldwin Rd and Lawson Street) in Hempstead, NY 11550 (Section 36, Block 75, Lot 250-251), presents a fully approved opportunity for development. All necessary zoning and building permits are in place for a thirteen-unit, three-story luxury apartment building. The proposed building design includes a mix of one- and two-bedroom units, ranging in size from approximately 630 to 981 square feet. The site boasts excellent visibility at a heavily trafficked intersection, offering significant potential for rental income. This walkable location is convenient to numerous shops and stores, including CVS Pharmacy and Dunkin' Donuts, and benefits from easy access to public transportation and the Southern State Parkway. Hempstead is an area experiencing growth and expansion, making this a prime investment opportunity. The asking price for this ready-to-build site is $1,400,000. The permitted zoning is Residence “A” and Residence “B”. This is a rare chance to acquire a fully approved development site in a desirable location with strong potential for significant returns.

    Property Features for 279 Baldwin Rd

    General Information

    Property type
    Land

    HighLights

    • 101: 1,222.4 sq ft 2‑bedroom duplex unit, encompassing both the first floor and basement.
    • 652 sq ft commercial space on the first floor, ideal for a community center.
    • 201: 824.3 sq ft 2‑bedroom unit.
    • 202: 916.3 sq ft 2‑bedroom unit.
    • 203: 806.3 sq ft 2‑bedroom unit.
    • 204: 807.3 sq ft 2‑bedroom unit.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hempstead
    County
    Nassau
    State
    New York
    Longitude
    -73.6135397
    Latitude
    40.6932917

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    FAQs

    What type of property is this?
    Land - 13-Unit Luxury Apartment Site, Approved
    Where is this land located?
    The property is located at 279 Baldwin Rd Hempstead, NY.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: 101: 1,222.4 sq ft 2-bedroom duplex unit, encompassing both the first floor and basement.; 652 sq ft commercial space on the first floor, ideal for a community center.; 201: 824.3 sq ft 2-bedroom unit.
    (516) 203-8134
    Request Owner's contact information
    279 Baldwin Rd Hempstead, NY 11550
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    Hempstead, NY 11550
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    279 Baldwin Rd Hempstead, NY 11550
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