Storefront Property with Full
For Sale
$648,000
288 Hempstead Avenue, West Hempstead, NY 11552
Commercial Sale, West Hempstead, NY
Property Size2,760 SF
Lot Size0.05 Acres
Price / SF$234.78
Days on Market73
Property Features for 288 Hempstead Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Rooms
Basement
Basement
Full, Walk-Out Access, Partially Finished
Elementary school
Chestnut Street School
Middle school
West Hempstead Secondary School
High school
West Hempstead Secondary School
Elementary school district
West Hempstead
Middle school district
West Hempstead
High school district
West Hempstead
Directions
GPS
Standard status
Active
APN
2089-35-383-00-0274-0
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10225
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Floors in Building
1
Building materials
Brick
Listing Agency:
Skylux Realty Inc
(718) 500-2231
Listed By:
Kenny Theam H. Tan ABR CIPS SRS C2 · License #10311210013
(917) 806-4383
Added: Jun 11
Changed: Aug 20
Last Checked: Aug 22 at 10:06PM
MLS# 1012175
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 288 Hempstead Avenue in West Hempstead, this brick storefront property provides 1380 square feet of commercial space plus a full basement measuring 1380 square feet. The interior includes multiple rooms and a basement area, creating a flexible configuration for retail, professional, wellness, medical, or service-oriented operations as described in the property information.
The property has central air conditioning and natural gas heat. Public water and public sewer serve the site, while cable service is available. Its position along Hempstead Avenue provides access to major roads and surrounding West Hempstead neighborhoods. The site encompasses 0.0465 acres in Nassau County.
The property has central air conditioning and natural gas heat. Public water and public sewer serve the site, while cable service is available. Its position along Hempstead Avenue provides access to major roads and surrounding West Hempstead neighborhoods. The site encompasses 0.0465 acres in Nassau County.
Key Highlights
- 1380SF commercial space with a full basement measuring 1380SF
- Flexible multi‑room interior configuration
- Brick construction with central air and natural gas heat
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$54,656
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.43%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,093,120
$1.1M
Cap Rate 7%
$780,800
$780.8K
Cap Rate 9%
$607,289
$607.3K
Market Conditions
NOI Build-Up for 2,760 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$82.8K $30.00/SF
− Vacancy
−$4.7K −$1.71/SF
EGI
$78.1K $28.29/SF
− OpEx
−$23.4K −$8.49/SF
NOI
$54.7K $19.80/SF
Area
Nassau County, NY
Vacancy
5.70%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,093,120
Cap Rate 7%
$780,800
Cap Rate 9%
$607,289
Alternative Uses
Best Use
Retail
$780.8K
$683.2K – $910.9K
NOI $54,656 @ 7.0% cap · market cap 8.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.82M
$1.60M – $2.13M
NOI $127,740 @ 7.0% cap · market cap 19.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
580
Businesses Nearby
9k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 80%
Dining 20%
Chase Bank
Shops & Services
5,576 visits/mo
0.1 miles
Webster Bank
Shops & Services
1,956 visits/mo
0.1 miles
Villagio
Dining
1,380 visits/mo
0.1 miles
Angelo's Pizza
Dining
468 visits/mo
0.2 miles
Demographics for 11552, NY
24,903
Population
7,736
Households
3.2
Avg Household Size
40
Median Age
47%
College-Educated
93%
High-School Grad
3.5 sq mi
ZIP Area
7,115
Density / Sq Mi
$153,192
Median Household Income
$58,371
Median Earnings
$3,185
Median Rent
$615,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Flowers Wedding Boutique, Inc. — 533 Pinebrook Ave, West Hempstead, NY 11552
Frequently Asked Questions
What type of property is this?
Storefront property - Brick commercial space with a flexible multi-room layout, central air, and public water and sewer service.
Where is this storefront property located?
The property is located at 288 Hempstead Avenue West Hempstead, NY.
What is the asking price?
The asking price for this property is $648,000.
What are key features of this property?
This property features: 1380SF commercial space with a full basement measuring 1380SF; Flexible multi‑room interior configuration; Brick construction with central air and natural gas heat
