Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1717 Hempstead Tpke Elmont, NY 11003

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,950,000

    High-cash flow, prime Elmont location.

    Property size:
    4,890 SF

    Property Features for 1717 Hempstead Tpke

    General Information

    Property type
    Other commercial real estate
    Square Feet
    4,890 SF
    Lot Size
    4,792 SF

    Building Details

    Year Built
    1960

    We can help!

    Listing Contact
    Rodolpho Miller

    Listing Agency: Real Broker NY LLC Listing Agent: Rodolpho Miller

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional mixed-use property, situated at 1717 Hempstead Turnpike in Elmont, NY, presents a compelling investment opportunity. The building encompasses 4,890 square feet on a 0.11-acre lot and features three units. Two fully renovated, three-bedroom, one-bathroom residential units occupy the second floor, providing immediate rental income. The ground floor boasts turnkey commercial space, perfectly suited for a large office. This space has undergone a significant $250,000+ build-out, including a complete IT setup for over 30 people and security cameras, minimizing upfront costs for a new tenant. The property benefits from high visibility due to its location on Hempstead Turnpike, attracting significant foot and vehicle traffic. Ample parking is available, adding to its appeal. The combination of consistent residential income and the potential for substantial commercial rental income makes this a strong cash-flow generating asset. Its strategic location and potential for future development further enhance its long-term investment prospects, making it ideal for both owner-occupiers and investors seeking a diversified portfolio. The property is offered at $1,950,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Pink Key Training Center Amit Hossain - The Nerd ... Real Estate Agency REAL BROKER ELMONT ... Real Estate Agency The joker food and tacos Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Elmont
    County
    Nassau County
    State
    New York
    Longitude
    -73.70442
    Latitude
    40.7073

    Nearby Similar for Sale

    • $899,000
      Pending

      Renovated Two-Family Home, Elmont

      Renovated 2-family home on oversized lot, ideal for investors.
      489 Eureka Ave, Elmont, NY 11003
      View Details
    • $1,100,000
      0.08 Acres

      Renovated Colonial Multifamily Home

      Elmont colonial with renovated units, kitchens, and baths.
      1371 Rosser Ave, Elmont, NY 11003
      View Details
    • $1,400,000
      2,354 SF

      Spacious Multi-Family Home in Elmont

      Multi-family home with 8 bedrooms, finished basement, and outdoor spaces.
      431 Kirkman Ave, Elmont, NY 11003
      View Details
    • New
      $1,400,000
      0.14 Acres

      Elmont Multifamily Home with Deck

      Well-maintained Elmont multifamily home with finished basement and deck.
      431 Kirkman Ave, Elmont, NY 11003
      View Details
    • $1,325,000
      0.20 Acres

      Legal Two-Family Residence in Elmont

      Two-family residence with flexible layout, finished basement, and detached garage.
      376 Hunnewell Ave, Elmont, NY 11003
      View Details
    • New
      $1,279,000
      0.11 Acres

      Spacious Multi-Family Home in Elmont

      Meticulously maintained multi-family residence near highways and vibrant downtown.
      77 Lucille Ave, Elmont, NY 11003
      View Details
    • $599,999
      0.08 Acres

      Elmont Multifamily Investment Opportunity

      Multifamily property in Elmont with value-add potential.
      19 Frederick Ave, Elmont, NY 11003
      View Details
    • $1,050,000
      Pending

      Elmont Warehouse with Office Space

      Warehouse space with office, bathrooms, high ceilings, and parking.
      19 Hillsboro Ave, Elmont, NY 11003
      View Details
    • $1,050,000
      0.18 Acres

      Elmont Duplex: Income or Living

      Well-maintained Elmont duplex, ideal for investors or multi-generational living.
      1551 Sweetman Ave, Elmont, NY 11003
      View Details
    • $4,999,999
      7,200 SF

      Prime Commercial Property Near UBS Arena

      Versatile commercial property near UBS Arena with retail and parking.
      1529 Hempstead Tpke, Elmont, NY 11003
      View Details
    • $849,000

      Elmont Two-Family Home

      Two-family home in Elmont with park-like property.
      40 Carnegie Ave, Elmont, NY 11003
      View Details
    • $2,650,000

      Three-Story Warehouse and Office Space

      Three-story warehouse and office space with loading docks and parking.
      200 Meacham Ave, Elmont, NY 11003
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - High-cash flow, prime Elmont location.
    Where is this commercial real estate located?
    The property is located at 1717 Hempstead Tpke Elmont, NY.
    What is the asking price?
    The asking price for this property is $1,950,000.
    (516) 427-7271
    Request Owner's contact information
    1717 Hempstead Tpke Elmont, NY 11003
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1717 Hempstead Tpke
    Elmont, NY 11003
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1717 Hempstead Tpke Elmont, NY 11003
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Rodolpho Miller
    (516) 427-7271
    Learn more
    Google sign-in failed. Please try again or use another login method.