Price Reduced 12.99%

$2,599,999

Est. Mortgage $12,638/mo *

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Price History

$2,988,000
2/6/2024

$2,899,000
5/13/2024

$2,690,000
6/21/2024

$2,599,999
8/9/2024

385 Silver Lane, Hempstead, (Oceanside), NY, 11572

385 Silver Lane, Hempstead, (Oceanside), NY, 11572
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1970

Calling All Investors, Developers & End-Users!!! 1+ Acre 5 Unit Development Site For Sale!!! The Property Features Great Exposure, Excellent Signage, 200 Amp, High 26' Ceilings, 15 Parking Spaces, 3 Br. House, Garage, 4 Greenhouses, Strategically Placed Curb Cuts, Strong Zoning, CAC, +++!!! The Property Is Located In The Heart Of Oceanside 1 Block Off Busy Atlantic Avenue!!! Neighbors Include Audi, Amazon, Nike, Costco, 7-Eleven, Dunkin, Walgreens, HomeGoods, Trader Joe's, IHOP, KFC, +++!!! According To The Owner An 84 Unit Assisted Living Facility Is Being Built Next Door To This Property. The Entire Property Can Be Delivered Vacant If Need Be. This Property Has HUGE Upside Potential!!! This Could Be Your Next Development Site / Home For Your Business!!! Income: Main 3 Br. House: 1,800 Sqft.: $48,000 Ann. (Available) 6,000 Sqft. Greenhouse: $84,000 Ann. (Available) (2) 5,000 Sqft. Greenhouses: $75,000 Each Ann. (Available) 2,000 Sqft. Greenhouse: $32,000 Ann. (Available) Pro Forma Gross Income: $314,000 Ann. Expenses: Maintenance & Repairs: $250 Ann. Insurance: $4,000 Ann. Taxes: $48,158.68 Ann. Total Expenses: $52,408.68 Ann. Net Operating Income (NOI): $261,591.32 Ann. (Pro Forma 10.06 Cap!!!)

Status:

Active

Town:

Hempstead

Type:

Commercial

Units:

6

Zoning:

Res Grnhse

Levels:

1

Acreage:

1.17

Est. Taxes:

$48,158

Current Use

Other

MLS #:

3530000

Community Info

School Info

Walk Score

Mass Transit

Yelp

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Listing courtesy of All Island Estates Realty Corp 516-783-5600