Freestanding Retail Building with Loading
For Sale
Contact for pricing
1376 Hempstead Turnpike, Elmont, NY 11003
Freestanding property with dedicated parking and a loading dock sized for tractor-trailer deliveries.
Property Size3,664 SF
Price / SF$341.16
Days on Market52
Property Features for 1376 Hempstead Turnpike
General Information
Standard status
Active
Size
3,664 SF
Class
C
Property subtype
Business for Sale
Zoning
GSS
Investment Type
Owner/User
Financials
Cap Rate
7.7%
Business Included
Yes
Building Details
Year Built
1935
Buildings
1
Units
1
Listing Agency:
Capri Industrial Partners
Listed By:
Stephen Davis · License #10491212764
Source:
Crexi
Added: Jun 30
Changed: Aug 14
Last Checked: Aug 19 at 4:54PM
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 Capri Industrial Partners
Investment Insights
Based on property information with market context.
This freestanding building offers three acquisition paths, including a fully turnkey bakery and production platform. The site includes a Universal Oven Company traveling tray oven that has been continuously operational for more than 50 years, supporting industrial-scale production for wholesale, catering, artisan bread, and commissary operations. The building can also be converted by an owner-user to support retail, food service, medical, or distribution uses.
Located at 1376 Hempstead Turnpike in Elmont, the property is positioned for commercial access with dedicated on-site parking and loading dock capability designed for tractor trailer deliveries. The remarks also note a Nassau/Queens border location with direct proximity to UBS Arena and the Belmont Park redevelopment corridor.
For tenant and buyer fit, the combination of freestanding format, on-site parking, and tractor-trailer loading is well suited to food production and commissary-style concepts, as well as operations that benefit from straightforward receiving. Investors can also consider a passive lease structure described as approximately $8,000 per month NNN, with the marketing materials citing a 7.7% cap rate at the asking price; financials are available upon NDA execution, and inquiries are handled with strict discretion.
Located at 1376 Hempstead Turnpike in Elmont, the property is positioned for commercial access with dedicated on-site parking and loading dock capability designed for tractor trailer deliveries. The remarks also note a Nassau/Queens border location with direct proximity to UBS Arena and the Belmont Park redevelopment corridor.
For tenant and buyer fit, the combination of freestanding format, on-site parking, and tractor-trailer loading is well suited to food production and commissary-style concepts, as well as operations that benefit from straightforward receiving. Investors can also consider a passive lease structure described as approximately $8,000 per month NNN, with the marketing materials citing a 7.7% cap rate at the asking price; financials are available upon NDA execution, and inquiries are handled with strict discretion.
Key Highlights
- Freestanding commercial building built in 1935 with dedicated on‑site parking
- Loading dock capable of accommodating tractor‑trailer deliveries
- Lease income target of approx. $8,000/month NNN
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$65,402
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,308,040
$1.3M
Cap Rate 7%
$934,314
$934.3K
Cap Rate 9%
$726,689
$726.7K
Market Conditions
NOI Build-Up for 3,664 SF
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.
Gross rent
$109.9K $30.00/SF
− Vacancy
−$16.5K −$4.50/SF
EGI
$93.4K $25.50/SF
− OpEx
−$28.0K −$7.65/SF
NOI
$65.4K $17.85/SF
Area
Queens County, NY
Vacancy
15.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,308,040
Cap Rate 7%
$934,314
Cap Rate 9%
$726,689
Alternative Uses
Best Use
Specialty Retail
$2.42M
$2.12M – $2.83M
NOI $169,579 @ 7.0% cap · market cap 13.57%
Second Best
Retail
$934.3K
$817.5K – $1.09M
NOI $65,402 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$2.70M
$2.36M – $3.15M
NOI $189,080 @ 7.0% cap · market cap 15.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
992
Businesses Nearby
341k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 27%
Shops & Services 26%
Apparel 26%
Home Improvements & Furnishings 20%
The Home Depot
Home Improvements & Furnishings
66,804 visits/mo
0.5 miles
Marshalls
Apparel
52,121 visits/mo
0.4 miles
T.J. Maxx
Apparel
32,517 visits/mo
0.1 miles
McDonald's
Dining
26,502 visits/mo
0.0 miles
Chipotle Mexican Grill
Dining
19,782 visits/mo
0.5 miles
Demographics for 11003, NY
43,979
Population
12,641
Households
3.5
Avg Household Size
40
Median Age
33%
College-Educated
87%
High-School Grad
4.1 sq mi
ZIP Area
10,727
Density / Sq Mi
$123,000
Median Household Income
$53,302
Median Earnings
$2,315
Median Rent
$576,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial kitchen - Freestanding property with dedicated parking and a loading dock sized for tractor-trailer deliveries.
Where is this commercial kitchen located?
The property is located at 1376 Hempstead Turnpike Elmont, NY.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Freestanding commercial building built in 1935 with dedicated on‑site parking; Loading dock capable of accommodating tractor‑trailer deliveries; Lease income target of approx. $8,000/month NNN
