238 Front Street, Hempstead, NY 11550
Fully leased multi-tenant neighborhood retail strip with service and food tenants along a main street.
- Added:
- Jun 16, 2026
- Days on Market:
- 12
- Last Refresh:
- Jun 20 at 3:26 am
Property Features for 238 Front Street
General Information
- Standard status
- Active
- Size
- 13,850 SF
- Property subtype
- Retail
Listing office Cushman & Wakefield - Melville, New York (631) 425-1216
Listing date Jun 16, 2026
Source Crexi
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HighLights
- 238‑248 Front Street, Hempstead, NY: 100% leased, multi‑tenant neighborhood retail strip
- Total approximately 13,850 SF leased to a diversified mix of service and food & beverage tenants
- 6.3‑year weighted average lease term with limited near‑term rollover exposure
- In‑place cash flow supported by daily‑needs demand from surrounding residential base
- Location on Front Street in the Village of Hempstead with convenient access to regional transportation
Overview
The asset is located along Front Street in the Village of Hempstead, surrounded by a dense residential base. It also benefits from proximity to municipal and institutional anchors and convenient access to regional transportation.
This offering is well suited for buyers seeking a fully stabilized retail asset with an active tenant roster in an established Nassau County retail corridor. The mix of day-to-day service and food & beverage uses is designed to fit neighborhood shopping needs, and the current occupancy provides immediate, in-place operations without the need for tenant repositioning.
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 | $415.5k | $30.00 |
| − Vacancy | −$23.7k | −$1.71 |
| EGI | $391.8k | $28.29 |
| − OpEx | −$117.5k | −$8.49 |
| NOI | $274.3k | $19.80 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Hempstead
- County
- Nassau
- State
- New York
- Longitude
- -73.6264363
- Latitude
- 40.705259
