260 Mott Ave Lawrence, NY 11559
- Commercial real estate
- 33,700 SF
Current Use by Public Records
- Commercial real estate
Property Details for 260 Mott Ave
- Year built
- 1900
- Property size
- 33,700 SF
- Property type
- Commercial real estate
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lawrence
- County
- Nassau
- State
- New York
- Longitude
- -73.7345
- Latitude
- 40.6191
