Mixed-Use Asset in Five
222 HEMPSTEAD Ave Lynbrook, NY 11563
For Sale
$1,100,000
Pending
Cash-flowing commercial mixed-use property with retail and residential units.
Days on Market97
Property Features for 222 HEMPSTEAD Ave
General Information
Standard status
Pending
Property subtype
Commercial
Building Details
Year Built
1949
Listing Agency:
Signature Premier Properties
(512) 560-2083
Listed By:
Anthony DiCosimo
(512) 560-2083
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 23 at 5:08AM
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 Signature Premier Properties
Investment Insights
Based on property information with market context.
This commercial mixed-use asset is located in the heart of the five corners. The property features a ground floor retail space and two residential apartment units. The property also includes a well-manicured back lawn and two dedicated parking spaces. Each apartment unit is a fully updated 2-bedroom, 1-bathroom unit with annual leases in place and long-term reliable tenants. The upstairs residential tenant is paying $2,850 per month, and the first-floor residential tenant is paying $2,200 per month. The commercial tenant is in the third year of a five-year gradual rate increase lease and is currently paying $3,502 per month, bringing the gross annual income to $102,624. The commercial tenant has very consistent clientele with plenty of foot traffic and has operated a successful business out of the retail space for many years. This consistently cash-flowing property has been well-maintained and is conveniently located less than 10 minutes from the Lynbrook, Valley Stream, Rockville Centre, and Malverne train stations. The property has a bike score of 59, making it bikeable, a walk score of 73, making it very walkable, and a transit score of 30, indicating some transit options.
Key Highlights
- Consistent cash flow with gross annual income of $102,624.
- Mixed‑use property featuring ground floor retail and two updated residential units.
- Long‑term, reliable tenants in place with annual leases.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Cash-flowing commercial mixed-use property with retail and residential units.
Where is this mixed-use property located?
The property is located at 222 HEMPSTEAD Ave Lynbrook, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Consistent cash flow with gross annual income of $102,624.; Mixed‑use property featuring ground floor retail and two updated residential units.; Long‑term, reliable tenants in place with annual leases.
