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229 Franklin St Hempstead, NY 11550

Sponsored
For Sale
$879,000

High-yield, dual-building property. Great potential.

Property size:
4,428 SF

Description

Added:
Feb 3, 2025
Days on Market:
338
This exceptional investment opportunity presents a unique chance to acquire a mixed-use property located at 229 S Franklin St, Hempstead, NY. The property encompasses two buildings on a 0.15-acre lot, totaling 4,428 square feet. The first structure is a two-story detached building featuring a ground-floor retail space currently leased to a deli. This lease extends until 2031, with a single five-year renewal option and a 3% annual rent increase. The lease is semi-net, with the tenant responsible for specific repairs, maintenance, utilities, and liability insurance. Above the retail space are three residential units. The second structure is entirely residential, with month-to-month tenants. The property's potential gross income is estimated at $160,000 annually, with potential for increased income through light renovations to the residential units. Real estate taxes are $37,660 annually. Detailed income and expense statements are available upon request. Note that this listing is for 229 S Franklin St only

Property Features for 229 Franklin St

General Information

Property type
Mixed-use properties
Square Feet
4,428 SF
Lot Size
6,534 SF

Property Profile Location Intelligence

Current Use by Public Records

Garden City Mazda Mazda Dealer

Suggested Use

Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

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

Location Insight

  • Map
  • Local Demand
City
Hempstead
County
Nassau County
State
New York
Longitude
-73.62286
Latitude
40.69812

FAQs

What type of property is this?
Mixed-use property - High-yield, dual-building property. Great potential.
Where is this mixed-use property located?
The property is located at 229 Franklin St Hempstead, NY.
What is the asking price?
The asking price for this property is $879,000.
More about this property
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