847 Prospect Ave, Westbury, NY 11590
This exceptional mixed-use property at 847 Prospect Avenue in Westbury, NY, presents a compelling investment opportunity. The building features an updated office space on the main level, a lower-level office area, and a separate residential unit at the rear, all situated on a private lot with ample parking. The property's versatility allows for owner-occupancy or continued rental income generation. Each unit benefits from separately metered electricity, with two gas meters—one for the residential unit and one for both office spaces, offering efficient utility management. Currently, the property is occupied by a residential tenant and a commercial tenant on month-to-month leases, providing immediate cash flow and flexibility. The substantial storage space within the residential unit adds to its appeal. The high-traffic location on Prospect Avenue ensures excellent visibility and accessibility. This is a rare opportunity to acquire a well-maintained, income-producing property in a desirable Westbury location. The flexible lease terms allow for immediate income and the potential to increase rental rates in the future. Don't miss this chance to secure a valuable asset with significant upside potential. The asking price is $699,999.
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Platinum Winners Realty Real Estate Agency
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
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.