Storefront Property with
For Sale
Contact for pricing
1951-1953 Grand Avenue, Hempstead, NY 11510
Commercial storefront with separate utility metering, updated fire-code compliance, and on-site vehicle access.
Property Size3,533 SF
Price / SF$226.15
Days on Market405
Property Features for 1951-1953 Grand Avenue
General Information
Standard status
Active
Size
3,533 SF
Total Parking Spaces
3
Property subtype
Retail
Zoning
comm
Occupancy
100%
Net Operating Income
$63,822
Building Details
Year Built
1948
Stories
1
Units
3
Listing Agency:
Creative Realty Group Inc
(516) 477-9365
Listed By:
George Terezakis · License #31TE0944584
Source:
Crexi
Added: Jul 23, 2025
Changed: Aug 30
Last Checked: Aug 30 at 3:40PM
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 Creative Realty Group Inc
Investment Insights
Based on property information with market context.
Located at 1951-1953 Grand Avenue in Hempstead, this 3,533-square-foot storefront property was built in 1948 and is zoned commercial. The improvements include three electrical meters, three circuit breaker panel boxes, and three separate water meters. A three-car driveway supplements available street parking.
Tenants are responsible for heat, electric, and water service. Fire-code updates have been completed, and the property includes a corner-store tenancy that the owner is willing to relocate for a possible owner-user arrangement.
Tenants are responsible for heat, electric, and water service. Fire-code updates have been completed, and the property includes a corner-store tenancy that the owner is willing to relocate for a possible owner-user arrangement.
Key Highlights
- 3,533 SF storefront property at 1951‑1953 Grand Avenue
- Commercial zoning designation
- Three electrical meters and three circuit breaker panel boxes
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
$69,964
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
8.76%
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%
$1,399,280
$1.4M
Cap Rate 7%
$999,486
$999.5K
Cap Rate 9%
$777,378
$777.4K
Market Conditions
NOI Build-Up for 3,533 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
$106.0K $30.00/SF
− Vacancy
−$6.0K −$1.71/SF
EGI
$99.9K $28.29/SF
− OpEx
−$30.0K −$8.49/SF
NOI
$70.0K $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%
$1,399,280
Cap Rate 7%
$999,486
Cap Rate 9%
$777,378
Alternative Uses
Best Use
Retail
$999.5K
$874.6K – $1.17M
NOI $69,964 @ 7.0% cap · market cap 8.76%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.34M
$2.04M – $2.73M
NOI $163,516 @ 7.0% cap · market cap 20.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,116
Businesses Nearby
35k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 90%
Electronics 10%
Dollar Tree
Shops & Services
31,806 visits/mo
0.5 miles
T-Mobile
Electronics
3,398 visits/mo
0.4 miles
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 Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercial storefront with separate utility metering, updated fire-code compliance, and on-site vehicle access.
Where is this storefront property located?
The property is located at 1951-1953 Grand Avenue Hempstead, NY.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 3,533 SF storefront property at 1951‑1953 Grand Avenue; Commercial zoning designation; Three electrical meters and three circuit breaker panel boxes
