Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    340 Hempstead Tpke West Hempstead, NY 11552

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    2,314 SF building on 0.60 acre parcel for sale.

    Property Features for 340 Hempstead Tpke

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Lara Sessler
    Source: Cbre

    Listing Agent: Lara Sessler

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Freestanding Building on Hempstead Turnpike

    The property features a 2,314 square-foot freestanding building situated on a 0.60-acre parcel. It is located on a hard corner with a signalized intersection on Hempstead Turnpike, which experiences traffic counts exceeding 30,870 vehicles per day. The property includes curb cuts on both Hempstead Turnpike and New York Avenue, and it offers 34 parking spaces. The current taxes are $49,847.74. The property is currently operating as a Burger King but will be delivered vacant.
    Location Intelligence

    Current Use by Public Records

    Burger King Restaurant

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    West Hempstead
    County
    Nassau
    State
    New York
    Longitude
    -73.6515629
    Latitude
    40.7053868

    Nearby Similar for Sale

    • $799,000
      Pending

      West Hempstead Two-Family Home

      Well-maintained two-family home with rental income potential.
      618 Jennings Ave, West Hempstead, NY 11552
      View Details
    • $1,450,000
      0.05 Acres

      West Hempstead Mixed-Use Investment Opportunity

      Four-unit mixed-use corner building with detached two-car garage.
      352 Hempstead Ave, West Hempstead, NY 11552
      View Details
    • $1,200,000
      4,814 SF

      West Hempstead Retail Opportunity

      Retail property for sale in a high-traffic commercial location.
      455 Hempstead Ave, West Hempstead, NY 11552
      View Details
    • $2,380,000
      12,600 SF

      West Hempstead Retail & Warehouse

      Shopping mall with warehouse space and good tenants for sale.
      275 Hempstead Tpke, West Hempstead, NY 11552
      View Details
    • $1,450,000

      Mixed-Use Building in West Hempstead

      Four-unit mixed-use corner building with high visibility and income potential.
      352 Hempstead Ave, West Hempstead, NY 11552
      View Details
    • $1,999,000
      8,800 SF

      Renovated Retail Property For Sale

      Retail property with renovated basement and high-traffic location.
      180 Hempstead Tpke, West Hempstead, NY 11552
      View Details
    • Contact for pricing
      2,314 SF

      340 Hempstead Tpke

      Hard Corner Development Opportunity
      340 Hempstead Tpke, West Hempstead, NY 11552
      View Details
    • Contact for pricing
      2,314 SF

      340 Hempstead Tpke

      Hard Corner Development Opportunity
      340 Hempstead Tpke, West Hempstead, NY 11552
      View Details
    • $2,275,000
      Pending

      West Hempstead Industrial Property

      Industrial property available for sale in West Hempstead, NY.
      627-635 Wadleigh Ave, West Hempstead, NY 11552
      View Details
    • Contact for pricing
      2,314 SF

      340 Hempstead Tpke

      Hard Corner Development Opportunity
      340 Hempstead Tpke, West Hempstead, NY 11552
      View Details
    • $2,900,000
      10,000 SF

      West Hempstead Retail Opportunity

      10,000 SF Vacant Retail Building
      700 Woodfield Rd, West Hempstead, NY 11552
      View Details
    • $3,350,000
      12,400 SF

      Hempstead Ave Industrial Property

      12,400 SF Flex Space, Great Investment
      487 Hempstead Ave, West Hempstead, NY 11552
      View Details

    FAQs

    What type of property is this?
    Drive through restaurant - 2,314 SF building on 0.60 acre parcel for sale.
    Where is this drive through restaurant located?
    The property is located at 340 Hempstead Tpke West Hempstead, NY.
    What are key features of this property?
    This property features: - Hard corner location with signalized intersection.; - Freestanding 2,314 SF building on a 0.60 acre parcel.; - High traffic count on Hempstead Turnpike (over 30,870 vehicles per day).
    Request Owner's contact information
    340 Hempstead Tpke West Hempstead, NY 11552
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    340 Hempstead Tpke
    West Hempstead, NY 11552
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    340 Hempstead Tpke West Hempstead, NY 11552
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Lara Sessler
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!