Prime Commercial Property Near UBS
1529 Hempstead Tpke Elmont, NY
For Sale
Contact for pricing
Versatile commercial property near UBS Arena with retail and parking.
Property Size7,200 SF
Lot Size0.40 Acres
Price / SF$520.83
Days on Market376
Property Features for 1529 Hempstead Tpke
General Information
- Standard status
- Active
- Size
- 7,200 SF
- Lot size
- 0.40 Acres
- Property subtype
- RETAIL
Listing Agency:
NY Space Finders
(516) 385-7725
Listed By:
Nicholas Evangelista · License #10301214544
(516) 385-7725
Source:
Moodyscre
Added: Jul 16, 2025
Changed: Jul 6
Last Checked: Jul 25 at 8:58AM
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
Investment Insights
Based on property information with market context.
This commercial property, located 1.5 miles from the UBS Arena development and the upcoming Belmont Park development, offers a prime opportunity for investors and end-users. The property encompasses a total of 8,800 square feet, featuring two retail storefronts, each spanning 800 square feet and including a full basement. 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, and the 7,200 square foot main building is constructed on a solid slab foundation. A standout feature of this property is the steel beam support system, which offers flexibility in space configuration, allowing 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.
Key Highlights
- Prime location just 1.5 miles from the UBS Arena and upcoming Belmont Park development.
- Substantial 8,800 sq ft commercial property featuring two 800 sq ft retail storefronts, each with a full basement.
- Enjoy customer and employee convenience with 24 on‑site parking spaces.
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 | $216.0k | $30.00 |
| − Vacancy | −$32.4k | −$4.50 |
| EGI | $183.6k | $25.50 |
| − OpEx | −$55.1k | −$7.65 |
| NOI | $128.5k | $17.85 |
7,200 SF · lease $30.00/SF/yr · vacancy 15.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.84M
$1.61M – $2.14M
NOI $128,520 @ 7.0% cap · market cap 3.43%
Second Best
Industrial
$647.1K
$566.2K – $754.9K
NOI $45,295 @ 7.0% cap · market cap 1.21%
Theoretical Best
Office A
$5.31M
$4.64M – $6.19M
NOI $371,555 @ 7.0% cap · market cap 9.91%
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 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 with retail and parking.
Where is this storefront property located?
The property is located at 1529 Hempstead Tpke 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 just 1.5 miles from the UBS Arena and upcoming Belmont Park development.; Substantial 8,800 sq ft commercial property featuring two 800 sq ft retail storefronts, each with a full basement.; Enjoy customer and employee convenience with 24 on‑site parking spaces.
