Property profile

245 Newtown Rd Plainview, NY 11803

FOR LEASE
Manufacturing properties
Property ID
US63-0282301
42,025 SF 5.84 ac lot Built 1962
Individually Owned 9-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 106,297 square foot flex building, located at 245 Newtown Road in Plainview, NY, offers a rare opportunity to lease 15,028 square feet of premium office and/or R&D space. The property boasts a complete renovation and is ideally situated just off the Long Island Expressway, providing unparalleled access and convenience. The building features a flexible layout suitable for a variety of uses, with a 22-foot ceiling height offering ample space and versatility. Ample parking is available with 315 spaces situated on a generous 6-acre lot, ensuring convenient access for employees and clients. The building includes two loading docks and one drive-in bay, catering to efficient logistics and material handling. The property is equipped with robust 600 amp electrical service, supporting the needs of modern businesses. This multi-tenant building in Nassau County offers a unique blend of functionality and accessibility, making it an ideal location for businesses seeking a modern and well-equipped workspace. The available space presents a chance to establish a prominent presence in a thriving Long Island business community. Contact us today to learn more about this exceptional opportunity.

Property profile

Verified
Property type Manufacturing properties
Use group HEAVY MANUFACTURING
Year built 1962
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 42,025 SF
Lot 5.84 ac (254,390 SF)
APN 13-089-00-0013
UPID US63-0282301

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Medical Clinic
  • Security Service
  • Food Processing Plant
  • Pharmacy
  • Physician

Location

245 Newtown Rd Plainview, NY 11803
Plainview metro Census 519702 NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$9.26M
Comparable Approach Comparable
by Request
Blend (final) Blend
$8.00M

Owner & transaction history

since 2016
3 recorded transactions
2016
Price N/A
1969
Price N/A
1969
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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