481-503 Hempstead Ave, West Hempstead, NY
Multi-tenant building suitable for industrial, office, and retail use.
- Added:
- Feb 29, 2024
- Days on Market:
- 836
- Last Refresh:
- May 20 at 8:07 pm
Property Features for 481-503 Hempstead Ave
General Information
- Standard status
- Active
- Size
- 12,400 SF
- Lot size
- 0.42 Acres
- Property subtype
- INDUSTRIAL
Listing agent Jeffrey Schwartzberg License #10311200842
Listing office Premier Commercial Real Estate (516) 284-8000
Listing date Feb 29, 2024
Source Moodyscre
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Premier Commercial Real Estate
HighLights
- High‑traffic location on Hempstead Ave offers excellent exposure.
- Eight units available, each approximately 1,400 sq ft on a 2,000 sq ft lot, providing flexible options.
- Multi‑tenanted building with separate metering, suitable for diverse business types.
- Existing tenant provides immediate income stream (+\/- $3,000/month).
- Convenient access with front loading from Hempstead Ave, street parking, and adjacent municipal parking.
- Price recently reduced.
Overview
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $372.0k | $30.00 |
| − Vacancy | −$21.2k | −$1.71 |
| EGI | $350.8k | $28.29 |
| − OpEx | −$105.2k | −$8.49 |
| NOI | $245.6k | $19.80 |
Alternative Uses
Current Use by Public Records
Similar Places Nearby
- Brock's Deli — 332 Dogwood Ave, Franklin Square, NY 11010
- Grapevine Events — 711 Dogwood Ave, West Hempstead, NY 11552
Location Insight
- Map
- Local Demand
- City
- West Hempstead
- County
- Nassau
- State
- New York
- Longitude
- -73.6544
- Latitude
- 40.6965