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    260 Mott Ave Lawrence, NY 11559

    Sponsored
    For Sale
    $1,850,000

    Prime Lawrence, NY multifamily, high ROI potential.

    Property size:
    33,700 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional multifamily investment opportunity in Lawrence, NY, presents a rare chance to acquire a substantial property boasting significant upside potential. Situated on a generous 33,700 square foot lot (approximately 3/4 acre), this property comprises two buildings, offering a total of four units. The main building features three units: two three-bedroom apartments and one two-bedroom apartment. The rear building includes a two-bedroom apartment situated above three two-car garages, providing ample parking for 15 vehicles. Built in 1900, the property offers 33,700 square feet of total space, with 2,800 square feet of net rentable area. The asking price is $1,850,000, translating to $54.90 per square foot and $462,500 per unit. The land value alone is $74.27 per square foot. The property is zoned 280 and benefits from a prime location, just 15 minutes from JFK Airport, two minutes from the Long Island Rail Road, and ten minutes from the beaches. Nearby amenities include a public library, schools, houses of worship, and the shopping and dining districts of Cedarhurst and Lawrence are only two minutes away. The property's substantial lot size presents a potential for subdivision, subject to obtaining the necessary variance. This owner-user investment opportunity is ideally suited for discerning investors seeking a strong return in a highly desirable location. The property was last occupied on November 8, 2022.

    Property Features for 260 Mott Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    33,700 SF
    Class
    C

    Building Details

    Year Built
    1900
    Buildings
    2
    Stories
    3
    Units
    4

    HighLights

    • Potential for subdivision; requires variance.
    • High‑traffic location with excellent visibility.
    • Strong tenant base with long‑term leases.
    • Significant upside potential through lease‑up or renovations.
    • Well‑maintained building with modern amenities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lawrence
    County
    Nassau
    State
    New York
    Longitude
    -73.7345234
    Latitude
    40.6190693

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    FAQs

    What type of property is this?
    Multifamily property - Prime Lawrence, NY multifamily, high ROI potential.
    Where is this multifamily property located?
    The property is located at 260 Mott Ave Lawrence, NY.
    What is the asking price?
    The asking price for this property is $1,850,000.
    What are key features of this property?
    This property features: Potential for subdivision; requires variance.; High-traffic location with excellent visibility.; Strong tenant base with long-term leases.
    (516) 558-0192
    Request Owner's contact information
    260 Mott Ave Lawrence, NY 11559
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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
    260 Mott Ave Lawrence, NY 11559
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