279 Baldwin RdHempstead, NY 11550

Property Details for 279 Baldwin Rd

Year built

1930

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.29 AC

Property size (Sq ft)

546 SF

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

36-075-00-0250

APU

36075000250

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $111,935

  6.5%

  $103,325

  7%

  $95,944

• Comparable approach

  Method

  Valuation

  Relative Method

  $110,578

  Geo Method

  $110,578

• Alternative Use

  Use

  Valuation

  Residential

  $103,325

  Hospitality

  $94,645

  Educational

  $78,743

  Medical

  $81,451

  Retail

  $122,490

Location Insight

City

Hempstead

County

Nassau

State

New York

Latitude

40.6932

Longitude

-73.6134

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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