40 Hempstead Gardens Dr, West Hempstead, NY 11552
This exceptional 2.01-acre commercial land parcel, located at 40 Hempstead Gardens Drive in West Hempstead, NY 11552, presents a compelling investment opportunity. Zoned URDC (Urban Renewal Residence C District), this property boasts a substantial 87,861 square feet and is ideally situated near Hampstead Avenue. Previously approved for the construction of 55 residential units (54 units plus a superintendent's unit), the site offers significant potential for redevelopment. The property is being sold "as is," and buyers are responsible for conducting their own due diligence. All offers must include proof of funds and will be subject to court receiver and court approval. Former plans are available upon request. The asking price for this prime commercial land is $4,000,000. Serious inquiries should be submitted via email to [email protected] or fax to 516-908-7605. This is a rare chance to acquire a large, well-located parcel with a proven history of development approval in a desirable Nassau County location. Don't miss this opportunity to capitalize on the potential of this exceptional property.
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Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.