Multi-tenant Retail
158 Main St Hempstead, NY 11550
For Sale
$5,580,000
Pending
11-store retail strip with one vacancy, adjacent to parking and the Hempstead LIRR station.
Property Size22,753 SF
Days on Market612
Property Features for 158 Main St
General Information
Standard status
Pending
Size
22,753 SF
Listing Agency:
B Square Realty
(646) 889-9988
Listed By:
Li Li
(646) 889-9988
Source:
Exprealty
Added: Nov 25, 2024
Changed: Jul 10
Last Checked: Jul 26 at 11:12PM
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 B Square Realty
Investment Insights
Based on property information with market context.
This retail investment property comprises an approximately 22,753-square-foot retail strip with 11 total stores, with only one store currently vacant. The asset is presented as a low-management investment, supported by the current leased occupancy mix and the straightforward operating structure of a multi-tenant strip center.
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.
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.
Key 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
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 |
22,753 SF · lease $30.00/SF/yr · vacancy 5.70% · expense 30.00%
Alternative Uses
Best Use
Retail
$6.44M
$5.63M – $7.51M
NOI $450,578 @ 7.0% cap · market cap 8.07%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$15.04M
$13.16M – $17.55M
NOI $1,053,066 @ 7.0% cap · market cap 18.87%
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?
Strip mall - 11-store retail strip with one vacancy, adjacent to parking and the Hempstead LIRR station.
Where is this strip mall located?
The property is located at 158 Main St Hempstead, NY.
What is the asking price?
The asking price for this property is $5,580,000.
What are key features of this property?
This property features: 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
