Property profile

97 Merrick Rd Baldwin, NY 11510

FOR SALE
Investment properties
Property ID
US63-0292496
1,276 SF 0.06 ac lot Built 1911
Individually Owned 3-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional investment opportunity presents a mixed-use property located at 97 Merrick Road in Baldwin, NY, 11510. The property consists of a ground floor retail space currently operating as a fully equipped pizza shop, offering significant potential for diverse commercial uses. Above the retail space are two 2-bedroom apartments. One apartment is currently vacant, while the other is occupied by a tenant paying $2050 per month (without a lease). The building's total square footage is not currently specified. This prime location offers high visibility and foot traffic, situated on a main thoroughfare just two blocks from the Long Island Rail Road (LIRR) station, ensuring convenient access for commuters and customers. The asking price for this property is $1,300,000. The property's strategic location and the combination of retail and residential income streams make it an attractive investment prospect with considerable upside potential. The existing pizza shop provides immediate cash flow, while the vacant apartment offers the opportunity to increase rental income. The flexibility of the retail space allows for a variety of commercial ventures, catering to the needs of the local community. This is a rare opportunity to acquire a well-positioned property in a thriving area. Serious inquiries are encouraged.

Property profile

Verified
Property type Investment properties
Use group OFFICE/RESIDENTIAL (MIXED USE)
Year built 1911
Construction FRAME
Total area 1,276 SF
Lot 0.06 ac (2,408 SF)
APN 54-102-00-0124
UPID US63-0292496

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
  • Restaurant

Location

97 Merrick Rd Baldwin, NY 11510
Baldwin metro Census 413600 NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$560k
CAP Approach CAP
by Request
Comparable Approach Comparable
$666k
Blend (final) Blend
$755k

Owner & transaction history

since 2023
Last sale
$750,000
2 recorded transactions
2024
Price N/A
2023
$750,000

Zoning & alternative use

Top alternative use upside
Neighborhood: shopping center $1.1M +135.5%
Office building $900,000 +89.4%
Auto repair, garage $840,000 +76.4%

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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