Retail Strip in Hempstead, NY


Executive Summary:

Price: $5,750,000
Building Size: 15,128 SF
Property Type: Retail
Lot Size: 0.49 Acres
Year Built: 1954
Cap Rate: 5.51%
NOI: $316,883
238-248 Front St & 15-19 S. Franklin St, Hempstead, NY 11550

Investment Highlights

  • Fully-Occupied Retail Strip in Hempstead, NY
  • Tenants Pay for their Own Utilities
  • 127 Feet of Frontage on Front St
  • High Traffic Counts: 21,870 Cars Per Day
  • On-Site Parking with 17 Spaces
  • On the Corner of a Signalized Intersection
  • Located Under 1 Mile From the West Hempstead Train Station
  • Surrounded by National Credit Retail Tenants such as McDonald’s, Pep Boys, TJ Maxx, Rainbow Shops, Harbor Freight Tools, and Many More

Investment Summary

American Investment Properties is retained to sell the property located at 238-248 Front St in Hempstead, NY. At this location is a fully-occupied strip center with 6 tenants. The tenants pay for their own utilities. There is on-site parking with 17 spaces and the property has 127 feet of frontage on Front St. The property is located on the corner of a  busy signalized intersection and is under one mile away from the West Hempstead Train Station.

About Hempstead, NY

The Town of Hempstead is among the three towns known as civil townships located in Nassau County, Long Island, New York. There is a total of twenty-two incorporated villages completely or partially in the town. Hempstead has a number of institutions of higher learning such as Hofstra University, New York University and Nassau Community College and more. The Town of Hempstead Department of Parks and Recreation is one of the largest municipal park systems in the United States. It has a total of 65 parks and marinas that offer numerous activities for all ages including sports, cultural arts, concerts, aquatics, and recreation.

The Town of Hempstead is the largest township in the United States, having not only the 22 incorporated villages, but over 65 parks and marinas, and 2,500 miles of city, county, state, and federal roads. With more than twenty-five museums and historical sites located in the town, the Cradle of Aviation Museum, is most popular. The Cradle of Aviation is a state-of-the-art facility with a collection of more than 70 aircraft and spacecraft that immerses visitors in the history of aviation. There is also a sanctuary that offers some of the finest wildlife and nature areas in the country. The town’s greatest resource is its proximity to the Atlantic Ocean. Among the miles of pristine beaches in the Town of Hempstead, lies the famous Jones Beach where over eight million people visit each year.

Contact Broker

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

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