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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

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    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.
    (516) 482-1111
    Request Owner's contact information
    229 Franklin St Hempstead, NY 11550
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    Hempstead, NY 11550
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    Realmo Value Estimation

    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.

    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.

    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
    229 Franklin St Hempstead, NY 11550
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