Two-Story Office Building For
1200 Hempstead Turnpike Franklin Square, NY 11010
For Sale
$3,250,000
Two-story office building with on-site parking and income potential.
Property Size7,742 SF
Price / SF$419.79
Days on Market551
Property Features for 1200 Hempstead Turnpike
General Information
Standard status
Active
Size
7,742 SF
Property subtype
Commercial/Industrial
Building Details
Year Built
1959
Listing Agency:
Douglas Elliman Comm of LI LLC
(516) 353-6549
Listed By:
Ben Indiviglia Jr · License #10401224061
(516) 353-6549
Source:
Exitrealty
Added: Jan 22, 2025
Changed: Jul 10
Last Checked: Jul 23 at 7:35AM
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 Douglas Elliman Comm of LI LLC
Investment Insights
Based on property information with market context.
This two-story office building offers 7,742 square feet of space and on-site parking for 16 cars. The property features 100 feet of frontage for signage and exposure. The first floor provides 3,950 square feet of finished office space, including a conference room, multiple offices, two bull pens, and three bathrooms. The second floor offers 3,792 square feet of leased space with a 7-year lease, providing income to cover expenses. The location is situated just 7 minutes from the UBS Arena Development Project and Cross Island Parkway, with a bus stop directly across the street from the building. This location offers visibility at a signaled intersection.
Key Highlights
- Prime location with 100 feet of frontage at a signaled intersection for high visibility.
- 3950 sq ft of finished 1st‑floor office space suitable for an owner‑user, including a conference room, multiple offices, bull pens, and 3 bathrooms.
- 3792 sq ft of leased 2nd‑floor space providing income to cover expenses with a 7‑year lease.
Financial Insights For Office B
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 | $216.5k | $27.96 |
| − Vacancy | −$39.0k | −$5.03 |
| EGI | $177.5k | $22.93 |
| − OpEx | −$44.4k | −$5.73 |
| NOI | $133.1k | $17.20 |
7,742 SF · lease $27.96/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.90M
$1.66M – $2.22M
NOI $133,127 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.12M
$4.48M – $5.97M
NOI $358,319 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Two-story office building with on-site parking and income potential.
Where is this office building located?
The property is located at 1200 Hempstead Turnpike Franklin Square, NY.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: Prime location with 100 feet of frontage at a signaled intersection for high visibility.; **3950 sq ft of finished 1st‑floor office space** suitable for an owner‑user, including a conference room, multiple offices, bull pens, and 3 bathrooms.; 3792 sq ft of leased 2nd‑floor space providing income to cover expenses with a 7‑year lease.
