Retail & Medical Office Building in West Hempstead, NY


Executive Summary:

Price: $1,650,000
Building Size: 10,000 SF
Property Type: Retail & Office
Lot Size: 0.29 Acres
Year Built: 1958
Cap Rate: 4.97%
NOI: $81,980
444 Hempstead Tpke,
West Hempstead, NY 11552

Investment Highlights

  • For Sale: Retail/Medical Office Building in West Hempstead, NY
  • Tenants Have 3% Annual Rent Increases
  • Close to Shopping Centers & Neighborhood Retail
  • Prime Location & Strong Traffic Counts
  • Building has 5,000 SF of Space on the Ground Level and 5,000 SF in the Basement

Investment Summary

American Investment Properties is retained to sell 444 Hempstead Turnpike in West Hempstead, New York. At this location is a 10,000 SF building with 5,000 SF of retail/medical office space, plus a full-size basement. Tenants at this location pay annual rent increases. Near the building is a bustling shopping center and Cherry Valley Plaza. Additionally, this property is surrounded by a McDonald’s, several restaurants, gas stations, and other neighborhood retail. The property sits on the busy Hempstead Turnpike which boasts strong traffic counts and accommodates the convenient n6 bus line.

About West Hempstead, NY

West Hempstead is a suburban community and census-designated place located in Nassau County, Long Island, New York. It is within
the Town of Hempstead. As of the 2010 census, there were 18,862 people, 5,939 households, and 4,781 families residing in the CDP. The median income for a household in the CDP was $96,563, and the median income for a family was $106,089. Notable residents include Kalomoira (popular Greek singer), Orville
Wright (aviator), and Marc Liebman. The community is served by West Hempstead Union Free School District which has five schools consisting of three elementary schools, one middle school, and one high school. The district dedicates the success of their students based on the highest
standards of excellence in education. The West Hempstead Public Library is the central facility for the library system which has a collection of more than 80000 volumes of books. The library also uses the Millennium library automation system. There are several forms of social organizations are still present and
active in West Hempstead. The Kiwanis, Rotary, Lions and Young Israel all have chapters in here. Also, there are 3 organizations to cater to the needs of senior citizens and a Civic Association.

Contact Broker

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

Request more information on this property: