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    220 Franklin St Hempstead, NY 11550

    Sponsored
    For Sale
    $825,000

    High-Income Potential, Two Buildings on .23 Acres

    Property size:
    5,530 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This unique Hempstead investment property offers a compelling opportunity to acquire a mixed-use portfolio. The property comprises two buildings situated on a 0.23-acre lot at 220 S Franklin St. The first structure is a charming, two-family, two-story Colonial home built circa 1925. This residential building features a private yard and a detached garage, currently occupied month-to-month. The second structure, a single-story, three-unit commercial building constructed around 1966, operates as a fully occupied "strip center." Two tenants currently lease space: a bar/restaurant with a lease extending through 2033 and a furniture store with a lease expiring in 2027. The commercial units operate under a semi-net lease agreement. The property boasts a stabilized potential gross income of $150,000 (with some light tenant improvements to the residential unit). The total square footage is 5,530, encompassing both the residential and commercial buildings. Real estate taxes for the property are $47,502 annually. Detailed income and expense statements are available upon request. This property is also being offered in conjunction with a neighboring property (MLS# 805779), allowing for the acquisition of either individual property or both as a combined investment.

    Property Features for 220 Franklin St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    5,530 SF
    Lot Size
    10,019 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    John Stumpf, Boulevard ... Real Estate Agent Millennium Chevrolet Chevrolet Dealer

    Suggested Use

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

    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
    -73.62258
    Latitude
    40.69862

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    FAQs

    What type of property is this?
    Mixed-use property - High-Income Potential, Two Buildings on .23 Acres
    Where is this mixed-use property located?
    The property is located at 220 Franklin St Hempstead, NY.
    What is the asking price?
    The asking price for this property is $825,000.
    (516) 482-1111
    Request Owner's contact information
    220 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
    220 Franklin St Hempstead, NY 11550
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