11-Store Retail
For Sale
$5,580,000
Pending
158 Main Street, Hempstead, NY 11550
Commercial Sale, Hempstead, NY
Property Size22,753 SF
Lot Size0.42 Acres
Days on Market1006
Property Features for 158 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Bus B
Directions
Google Maps
Standard status
Pending
APN
2013-34-522-00-0204-0
Lot size
0.42 Acres
Taxes and HOA fees
Tax Annual Amount
172000
Building Details
Floors in Building
2
Listing Agency:
B Square Realty Inc
(718) 939-8388
Listed By:
Li Li
(646) 889-9988
Added: Dec 18, 2023
Changed: Sep 18
Last Checked: Sep 19 at 5:06AM
MLS# L3521619
Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property is a 22,753-square-foot retail center containing 11 stores, with one currently vacant. The center occupies 0.4167 acres and is zoned Bus B, providing a multi-tenant configuration along Main Street.
The property is located next to a large parking lot and near the Hempstead LIRR station. Its Hempstead setting places the retail center within an established commercial area served by rail access and nearby parking.
The property is located next to a large parking lot and near the Hempstead LIRR station. Its Hempstead setting places the retail center within an established commercial area served by rail access and nearby parking.
Key Highlights
- 22,753‑square‑foot retail center
- 11‑store layout with one vacant store
- 0.4167‑acre site
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
$450,578
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
8.07%
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%
$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
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
$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 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%
$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.
Property Analytics
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Open Analytics
Current Use
Lease Details
90.9%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,781
Businesses Nearby
241k
Monthly Visits Nearby
Under-served
Demand for This Use
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
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Similar Off Market Nearby
- The Hub — 132-178 Fulton Ave, Hempstead, NY 11550
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- Fulton Corner — 236 Fulton Ave, Hempstead, NY 11550
- Chino — 12 n franklin st, hempstead, ny 11550
- Clinton Plaza — 80 Clinton St, Hempstead, NY 11550
Frequently Asked Questions
What type of property is this?
Shopping center - Bus B-zoned retail center near the Hempstead LIRR station with adjacent parking access.
Where is this shopping center located?
The property is located at 158 Main Street 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: 22,753‑square‑foot retail center; 11‑store layout with one vacant store; 0.4167‑acre site
