Mixed-Use Building in Franklin Square, NY

942-956 HEMPSTEAD TPKE, FRANKLIN SQUARE, NEW YORK 11010

Executive Summary:

Price: $8,249,000
Building Size: 41,000 SF
Property Type: Mixed-Use
Lot Size: 0.81 Acres
Year Built: 1923 / 1928
Cap Rate: 6.93%
NOI: $571,560
Location:
942-956 Hempstead Tpke & 4-20 New Hyde Park Rd, Franklin Square, NY 11010

Investment Highlights

  • Mixed-Use Building Composed of Commercial & Residential Units
  • There are 5 Office Units, 15 Retail Units, and 19 Residential Units
  • Located on a Signalized Intersection
  • High Traffic Counts: 32,806 Cars Per Day on Hempstead Tpke
  • Surrounded by Various Neighborhood Retail
  • Close Proximity to the Stewart Manor LIRR Train Station
  • There are 10 On-Site Parking Spaces Located Behind the Building

Investment Summary

American Investment Properties is retained to sell the building locatedat 942-956 Hempstead Tpke & 4-20 New Hyde Park Rd, Franklin Square. At this location is a mixed-use building consisting of 5 office units, 15 retail units, and 19 residential units. This property is located on a signalized intersection and is surrounded by various other neighborhood retail & amenities. There are 10 on-siteparking spaces located behind the building.

About Franklin Square, NY

Franklin Square is a hamlet located in Nassau County, Long Island, New York. Franklin Square is a great place to raise kids with many attractions and annual events that provide fun to the entire family. It includes street fairs, festivals and parades hosted by different organizations. Summertime block parties also are popular here.

The Rath Park is a popular park in the area that features an outdoor pool, athletic fields and courts, play equipment, picnic tables and a playground. Even though Franklin Square lacks a downtown district, it has an abundance of shops, services and eateries that soothes your way of living. The area is boasted for its Italian restaurants and delis. Franklin Square is largely middle class with tidy neighborhoods and pleasant residents who can afford putting a lot of money into their homes. It’s not unusual for a builder to buy an original ranch for $400,000 and knock it down to build a Colonial and then sell it for $700,000 to $800,000 in Franklin Square.

Contact Broker

Ron Koenigsberg - Commercial Real Estate BrokerRon Koenigsberg, CCIM
President
[email protected]
(O) 516.393.2300
(F) 516.390.5780

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