Retail and Office Building with
236-242 Fulton Ave Hempstead, NY 11550
236-242 Fulton Ave, Hempstead, NY, 11550
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For Sale
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Mixed retail and office tenant mix with direct municipal parking access on a major Nassau County corridor.
Property Size19,277 SF
Price / SF$226.95
Days on Market49
Property Features for 236-242 Fulton Ave
General Information
- Standard status
- Active
- Size
- 19,277 SF
- Property subtype
- Retail, Office, Mixed Use
Listed by
Abraham Adjmi · License #10401386514
Source
Crexi
Added: Jun 3 Updated: Jul 10 at 3:59PM Checked: Jul 21 at 3:03AM
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 Abraham Adjmi
Investment Insights
Based on property information with market context.
This multi-tenant building is configured to support both retail and office use, with current occupants that include legal professionals and government-related businesses. In addition to retail and office tenants, the property also hosts a hospital organization and NYS agencies, reflecting a broad range of active use cases within the same address.
Located at 236-242 Fulton Ave in Hempstead, the property is positioned on one of Nassau County’s primary commercial corridors. It benefits from strong vehicular and pedestrian traffic and direct access to municipal parking. The building is within a short walk of the Town of Hempstead Court and surrounding governmental buildings, and it is described as minutes from the Hempstead LIRR station. The area also includes nearby universities and hospitals.
For prospective tenants, the mix of office-focused users and service-oriented retail supports everyday access needs, including parking and transit proximity. For buyers, the asset’s established occupancy by legal, government-related, and institutional organizations provides a practical platform for operations that align with courthouse and agency-adjacent demand.
Located at 236-242 Fulton Ave in Hempstead, the property is positioned on one of Nassau County’s primary commercial corridors. It benefits from strong vehicular and pedestrian traffic and direct access to municipal parking. The building is within a short walk of the Town of Hempstead Court and surrounding governmental buildings, and it is described as minutes from the Hempstead LIRR station. The area also includes nearby universities and hospitals.
For prospective tenants, the mix of office-focused users and service-oriented retail supports everyday access needs, including parking and transit proximity. For buyers, the asset’s established occupancy by legal, government-related, and institutional organizations provides a practical platform for operations that align with courthouse and agency-adjacent demand.
Key Highlights
- Mixed retail and office tenant mix with direct access to sought‑after municipal parking on a major Nassau County commercial corridor
- Located a short walk from the Town of Hempstead Court and surrounding governmental buildings
- Tenant base includes a hospital organization and NYS agencies, along with businesses across multiple industries
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $578.3k | $30.00 |
| − Vacancy | −$33.0k | −$1.71 |
| EGI | $545.3k | $28.29 |
| − OpEx | −$163.6k | −$8.49 |
| NOI | $381.7k | $19.80 |
19,277 SF · lease $30.00/SF/yr · vacancy 5.70% · expense 30.00%
Alternative Uses
Best Use
Retail
$5.45M
$4.77M – $6.36M
NOI $381,742 @ 7.0% cap · market cap 8.73%
Second Best
Office B
$4.74M
$4.14M – $5.52M
NOI $331,476 @ 7.0% cap · market cap 7.58%
Theoretical Best
Specialty Retail
$12.75M
$11.15M – $14.87M
NOI $892,188 @ 7.0% cap · market cap 20.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Mixed retail and office tenant mix with direct municipal parking access on a major Nassau County corridor.
Where is this retail space located?
The property is located at 236-242 Fulton Ave Hempstead, NY.
What is the asking price?
The asking price for this property is $4,375,000.
What are key features of this property?
This property features: Mixed retail and office tenant mix with direct access to sought‑after municipal parking on a major Nassau County commercial corridor; Located a short walk from the Town of Hempstead Court and surrounding governmental buildings; Tenant base includes a hospital organization and NYS agencies, along with businesses across multiple industries
