Prime Commercial Property Near UBS
1529 Hempstead Elmont, NY 11003
1529 Hempstead, Elmont, NY, 11003
$3,750,000
For Sale
$3,750,000
Versatile commercial property near UBS Arena and Belmont Park.
Property Size8,800 SF
Lot Size0.41 Acres
Price / SF$426.14
Days on Market133
Property Features for 1529 Hempstead
General Information
- Standard status
- Active
- Size
- 8,800 SF
- Lot size
- 0.41 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1984
Listing agency
NY Space Finders Inc
(516) 840-8029
Listed by
Giuseppe Gregorio · License #10301214544
(516) 840-8029
Source
Elliman
Added: Mar 11 Updated: Jul 6 at 10:51AM Checked: Jul 21 at 5:50AM
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 NY Space Finders Inc
Investment Insights
Based on property information with market context.
This commercial property, located 1.5 miles from the new UBS Arena Development and the upcoming Belmont Park development, offers a prime opportunity for investors and end-users. The property features two retail storefronts, each spanning 800 square feet and including a full basement. The property encompasses a total of 8,800 square feet. There are 24 on-site parking spaces. The property is equipped with central air conditioning and gas baseboard heating. It is connected to the sewer system. The 7,200 square foot main building is constructed on a solid slab foundation. A steel beam support system offers flexibility in space configuration, allowing for division for multiple tenants or reconfiguration to suit business requirements. The location is near the newly developed UBS Arena and UBS LIRR Station, providing easy access for commuters and increased foot traffic. This area is poised for growth, making it a strategic investment opportunity.
Key Highlights
- Prime location: 1.5 miles to UBS Arena and Belmont Park.
- 8,800 sq ft commercial property featuring two 800 sq ft retail storefronts, each with a full basement.
- Benefit from 24 on‑site parking spaces.
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 | $264.0k | $30.00 |
| − Vacancy | −$39.6k | −$4.50 |
| EGI | $224.4k | $25.50 |
| − OpEx | −$67.3k | −$7.65 |
| NOI | $157.1k | $17.85 |
8,800 SF · lease $30.00/SF/yr · vacancy 15.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.24M
$1.96M – $2.62M
NOI $157,080 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.49M
$5.68M – $7.57M
NOI $454,122 @ 7.0% cap · market cap 12.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Elmont Funeral Home
Social Service Agency
First Funeral Home ...
Social Service Agency
中華緣殯儀館
Social Service Agency
First Funeral Home ...
Social Service Agency
Similar For Sale Nearby
Similar Off Market Nearby
- Benicia Florist Same Day Delivery Inc — 1538 hempstead turnpike, elmont, ny 11003
- Westgate Florist of Elmont — 1538 Hempstead Turnpike, Elmont, NY 11003
FAQs
What type of property is this?
Storefront property - Versatile commercial property near UBS Arena and Belmont Park.
Where is this storefront property located?
The property is located at 1529 Hempstead Elmont, NY.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Prime location: 1.5 miles to UBS Arena and Belmont Park.; 8,800 sq ft commercial property featuring two 800 sq ft retail storefronts, each with a full basement.; Benefit from 24 on‑site parking spaces.
