Multi-tenant Retail
For Sale
$5,580,000
Pending
158 Main St, Hempstead, NY 11550
11-store retail strip with one vacancy, adjacent to parking and the Hempstead LIRR station.
Property Size22,753 SF
Days on Market141
Property Features for 158 Main St
General Information
Standard status
Pending
Size
22,753 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$172,000
Building Details
Building Size
22,753 SF
Tenancy
Multi
Listing Agency:
B Square Realty
Listed By:
Li Li
(646) 889-9988
Source:
Elliman
Added: Jun 10
Changed: Oct 25
Last Checked: Oct 26 at 5:40PM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$450,578
Cap Rate
8.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,011,560
$9.0M
Cap Rate 7%
$6,436,829
$6.4M
Cap Rate 9%
$5,006,422
$5.0M
Market Conditions
NOI Build-Up for 22,753 SF
Gross rent
$682.6K $30.00/SF
− Vacancy
−$38.9K −$1.71/SF
EGI
$643.7K $28.29/SF
− OpEx
−$193.1K −$8.49/SF
NOI
$450.6K $19.80/SF
Area
Nassau County, NY
Vacancy
5.70%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,011,560
Cap Rate 7%
$6,436,829
Cap Rate 9%
$5,006,422
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.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,781
Businesses Nearby
241k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 31%
Groceries 26%
Apparel 21%
Home Improvements & Furnishings 12%
T.J. Maxx
Apparel
37,575 visits/mo
0.5 miles
Aldi
Groceries
30,727 visits/mo
0.5 miles
Harbor Freight Tools
Home Improvements & Furnishings
27,975 visits/mo
0.5 miles
Bravo Supermarkets
Groceries
16,794 visits/mo
0.4 miles
Key Food Supermarkets
Groceries
16,330 visits/mo
0.4 miles
Demographics for 11550, NY
61,901
Population
19,579
Households
3.2
Avg Household Size
36
Median Age
21%
College-Educated
77%
High-School Grad
4.2 sq mi
ZIP Area
14,738
Density / Sq Mi
$86,904
Median Household Income
$40,662
Median Earnings
$1,647
Median Rent
$446,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
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
