High-Visibility Commercial Building For
For Sale
Contact for pricing
1614 Grand Avenue, Hempstead, NY 11510
Prime commercial property with high traffic exposure, ideal for business.
Property Size4,000 SF
Price / SF$228.75
Days on Market178
Property Features for 1614 Grand Avenue
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Office
Building Details
Year Built
1947
Listing Agency:
Unlimited Homes Realty
(800) 820-9450
Listed By:
Robert McLeod · License #NY
Source:
Crexi
Added: Feb 23
Changed: Aug 8
Last Checked: Aug 8 at 2:47PM
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 Unlimited Homes Realty
Investment Insights
Based on property information with market context.
This commercial property is positioned on a high-traffic roadway, providing visibility and exposure along a main corridor connecting the Southern State Parkway and Sunrise Highway. The building will be delivered vacant, presenting an opportunity for owner-users and investors. The first floor spans 2,800 square feet, with approximately 4,000 usable square feet. A private driveway allows for tandem parking of up to five vehicles. The property is equipped with central air conditioning throughout, as well as security doors at the front and rear entrances with keypad entry. This building offers potential in a visible and accessible location.
Key Highlights
- High‑traffic location with exceptional visibility on a main corridor.
- Delivered vacant, ideal for owner‑users or investors.
- 2,800 sq ft first floor with approximately 4,000 usable sq ft.**
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
$68,782
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
7.52%
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%
$1,375,640
$1.4M
Cap Rate 7%
$982,600
$982.6K
Cap Rate 9%
$764,244
$764.2K
Market Conditions
NOI Build-Up for 4,000 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
$111.8K $27.96/SF
− Vacancy
−$20.1K −$5.03/SF
EGI
$91.7K $22.93/SF
− OpEx
−$22.9K −$5.73/SF
NOI
$68.8K $17.20/SF
Area
Nassau County, NY
Vacancy
18.00%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
25.00%
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%
$1,375,640
Cap Rate 7%
$982,600
Cap Rate 9%
$764,244
Alternative Uses
Best Use
Office B
$982.6K
$859.8K – $1.15M
NOI $68,782 @ 7.0% cap · market cap 7.52%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.64M
$2.31M – $3.09M
NOI $185,130 @ 7.0% cap · market cap 20.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
708
Businesses Nearby
Explore this area
Business Placement
Demographics for 11510, NY
34,617
Population
11,463
Households
3
Avg Household Size
42
Median Age
43%
College-Educated
94%
High-School Grad
4.2 sq mi
ZIP Area
8,242
Density / Sq Mi
$141,120
Median Household Income
$62,185
Median Earnings
$1,695
Median Rent
$578,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Prime commercial property with high traffic exposure, ideal for business.
Where is this office building located?
The property is located at 1614 Grand Avenue Hempstead, NY.
What is the asking price?
The asking price for this property is $915,000.
What are key features of this property?
This property features: High‑traffic location with exceptional visibility on a main corridor.; Delivered vacant, ideal for owner‑users or investors.; 2,800 sq ft first floor with approximately 4,000 usable sq ft.**
