56 Covert Avenue,Garden City, NY 11530
Garden City, NY 11530
Description
Prime Mixed-Use Investment Opportunity in a High-Traffic Commercial Corridor! Excellent opportunity to own a versatile mixed-use property in a thriving commercial district with strong foot traffic and established businesses. This unique property features a street-facing retail storefront, currently operating as a well-established laundromat, along with a separate 1-bedroom residential apartment in the rear, offering flexibility for investors and owner-users alike. Situated on a 20' x 81.3' lot (approximately 1,626 SF), the property offers approximately 1,200 SF of existing interior space, with potential for an additional 1,200 SF of vertical expansion, subject to zoning regulations and necessary approvals. Low annual property taxes of approximately $8,000 further enhance its investment appeal. Surrounded by a vibrant mix of businesses, the property enjoys excellent visibility and consistent commercial activity. The immediate block features fully occupied storefronts on both sides, reflecting a well-established and desirable business location. The current laundromat has been successfully operated for years, and the owner is now retiring, presenting an exciting opportunity for the next owner. With reported annual rental income exceeding $50,000 and an estimated return of over 6%, this property offers attractive income potential and long-term upside. Ideal for investors seeking steady cash flow or owner-operators looking to establish a business with an on-site residential component. Rare opportunity to acquire an income-producing mixed-use property in a prime commercial location. Don't miss it!
Details
| MLS # | 1062750 |
|---|---|
| Listing Type | For Sale |
| Style | Mixed Use |
| Sub-Type | Resale |
| Status | Active |
| Year | 1926 |
| Days On Site | 22 |
| Listing Provided By | Chase Global Realty Corp | Wei Lin |
Features
| SQ Feet | 1,200 |
|---|---|
| Story(s) | 1 |
| Acreage | 0.04 |
Interior
| Cooling | Electric |
|---|---|
| Heating | Baseboard |
Exterior
| Construction Materials | Brick |
|---|
Utilities
| Utilities | Electricity Connected, Natural Gas Connected, Sewer Connected, Trash Collection Public, Water Available |
|---|---|
| Sewer | Public Sewer |
Taxes
| Tax Year | 2026 |
|---|---|
| Tax Annual Amount | 6960 |
| Tax Lot | 2 |
Area Information
| State | NY |
|---|---|
| County | Nassau County |
| City | Garden City |
| Zip Code | 11530 |
| Listing VS Median (in 11530) | |
Price: $650,000 low | high Med: $1,099,000 sqft: 1,200 low | high Med: 1,654 $ / sqft: $542 low | high Med: $671 On site: 22 low | high Med: 52.5 | |
Market Activity 11530
Request a showing
Request a showing
Contact
Learn More About This Property
| State | NY |
|---|---|
| County | Nassau County |
| City | Garden City |
| Zip Code | 11530 |
| Listing VS Median (in 11530) | |
Price: $650,000 low | high Med: $1,099,000 sqft: 1,200 low | high Med: 1,654 $ / sqft: $542 low | high Med: $671 On site: 22 low | high Med: 52.5 | |
270 Main Street
Cornwall, NY 12518
845-534-7874
Hours of Operation
Specializing in Buying and
Selling Real Estate in Cornwall,
NY and surrounding areas.
Fair House Notice
SOP for Purchasers of Real Estate
