158 Main St, Hempstead, NY 11550
11-store retail strip with one vacancy, adjacent to parking and the Hempstead LIRR station.
- Added:
- Nov 25, 2024
- Days on Market:
- 566
- Last Refresh:
- Jun 13 at 1:56 am
Property Features for 158 Main St
General Information
- Standard status
- Active
- Size
- 22,753 SF
Listing agent Li Li (646) 889-9988
Listing office B Square Realty (646) 889-9988
Listing date Nov 25, 2024
Source Exprealty
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HighLights
- 11‑store retail strip at 158 Main Street, Hempstead, NY, with only 1 store vacant
- 22,753 SF retail property with annual net operating income of $305,464
- Located in a high‑traffic area next to a large parking lot
- Adjacent to the Hempstead LIRR station for tenant and customer convenience
- Building size listed as 22,753 SF
Overview
The property is located at 158 Main Street in the heart of Hempstead, positioned next to a large parking lot and the Hempstead LIRR station. This placement is designed to support convenient access for shoppers and commuters, with visibility and foot-traffic potential generated by the nearby transit and parking.
For buyers or serious retail investors, the configuration offers a diversified in-place tenant base across multiple storefronts, with near-full occupancy. The fact pattern provided indicates annual net operating income of $305,464, and the offering is described as requiring minimal management. Overall, it is a practical choice for investors looking for a primarily occupied multi-tenant retail strip in a high-traffic Hempstead location near transit and parking access.
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 | $682.6k | $30.00 |
| − Vacancy | −$38.9k | −$1.71 |
| EGI | $643.7k | $28.29 |
| − OpEx | −$193.1k | −$8.49 |
| NOI | $450.6k | $19.80 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Hempstead
- County
- Nassau
- State
- New York
- Longitude
- -73.6260096
- Latitude
- 40.7118579
