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Immediate Sale Directed via Public Auction

5,400 Sq Ft Mixed-Use Building on Main Thoroughfare

1 Commercial & 3 Residential Units + Full/Finished Basement

Details:

  • 177 Hempstead Turnpike, West Hempstead, NY 11552
  • 5,400 Sq Ft Two Story Building + Full & Finished 2,700 Sq Ft Basement
  • Commercial Unit (First Floor):
  •    Currently Occupied by Retail Furniture Store
  •    First Floor: 2,700 Sq Ft Retail Showroom/Office & Half Bath
  •    Lower Level: 2,700 Sq Ft Showroom & Half Bath
  •    Can be Delivered Vacant at Closing
  • Residential Units (Second Floor):
  •    (3) 1 Bedroom Apartments
  •    All Apartments: 2,700 Total Sq Ft  – $44,400/Year Rent
  •    Tenants Pay Electric & Gas Direct (Individually Metered)
  •    Landlord Pays Oil & Water
  •    Unit #1 – Lease Through November 30, 2014 at $1,300/Month
  •    Unit #3F – Lease Through October 31, 2014 at $1,300/Month
  •    Unit #2 – Month-to-Month at $1,100/Month (Same Tenant for 20+ Years)
  • Additional Information:
  • County: Nassau   Section: 35   Block: 355   Lot: 14
  • Municipal Parking Lot Ideally Located Only a Half Block Away
  • Lot Size: 4,000 Sq Ft (40′ x 100′)
  • Year Built: 1938
  • Annual Real Estate Taxes: $27,380.45
  • $370,000 Opening Bid

Inspections/Viewings:  Mondays, October 20th & 27th from 1:00 pm – 3:00 pm.

Auction Date & Time:  Wednesday, October 29th at 11:00 am. Registration begins at 10:00 am.

Auction Location:  The Office of the Auctioneer, 39 Windsor Place, Central Islip, NY 11722.  Absentee bidding available with pre-registration at least 48 hours prior to auction.

Terms & Conditions of Sale: Property will be sold free & clear of all liens, claims & encumbrances.  In order to register to bid, all prospective bidders must present a cashier’s check in an amount of $37,000 made payable to “David R. Maltz & Co., Inc.”.  Closing must occur within 45 days after the auction. Successful Bidder shall be granted a 30-day extension to close if he/she posts an additional non-refundable 10% deposit.  Subject to sale prior to auction as pre-auction offers will be considered.  Please download the complete Terms and Conditions of Sale.

Buyer’s Premium:  An eight percent (8%) Buyer’s Premium will be added to the Successful Bidder’s high bid to determine the contract price to be paid by the Successful Bidder.

Buyer Broker Participation:  A two percent (2%) commission will be paid to any properly licensed Buyer Broker who registers a successful buyer in accordance with the Buyer Broker guidelines.  Please download the Broker Participation form for details.

Have Questions? Get In Touch

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David R. Maltz, Auctioneer DCA# 762794
Richard B. Maltz, Auctioneer DCA# 1240836
David A. Constantino, Auctioneer DCA# 1424944
Richard B. Maltz, Licensed Real Estate Broker
Phone (516) 349-7022  Fax (516) 349-0105

This Property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either expressed or implied, concerning the Property is made by the Seller, Auction Company or any of their Agents.  The information contained herein was derived from sources deemed reliable, but is not guaranteed.  Most of the information provided has been obtained from third party sources and has not been independently verified.  It is the responsibility of the Buyer and/or Buyer’s Broker to determine the accuracy of all components of the sale and Property.    Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the Property, including without limitation, environmental and physical condition of the Property.  All prospective bidders are urged to conduct their own due diligence prior to participating in the Public Auction.

Bid rigging is illegal and suspected violations will be reported to the Department of Justice for investigation and prosecution.