Storefront Property with Full
For Sale
$628,000
288 Hempstead Avenue, West Hempstead, NY 11552
Multi-room commercial space with additional lower-level area and access to major roads.
Property Size1,380 SF
Days on Market81
Property Features for 288 Hempstead Avenue
General Information
Standard status
Active
Size
1,380 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$10,225
Building Details
Building Size
1,380 SF
Stories
1
Listing Agency:
Skylux Realty Inc
(917) 806-4383
Listed By:
Kenny Theam H. Tan ABR CIPS SRS C2
(917) 806-4383
Source:
Professionalchoicerealty
Added: Jun 11
Changed: Aug 29
Last Checked: Aug 25 at 9:29AM
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 Skylux Realty Inc
Investment Insights
Based on property information with market context.
Located at 288 Hempstead Avenue, this storefront property provides 1,380 SF of commercial space along with a full 1,380 SF basement. The interior includes a multi-room configuration that can support a range of professional, wellness, retail, service, or medical-oriented operations, subject to applicable requirements.
The property sits along a business corridor in West Hempstead with storefront exposure and access to major roads and surrounding neighborhoods. Its combination of street-level commercial space and full basement area provides practical separation between customer-facing functions, work areas, storage, or other operational needs.
The property sits along a business corridor in West Hempstead with storefront exposure and access to major roads and surrounding neighborhoods. Its combination of street-level commercial space and full basement area provides practical separation between customer-facing functions, work areas, storage, or other operational needs.
Key Highlights
- 1,380 SF storefront property
- Full 1,380 SF basement
- Multi‑room interior layout
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
$27,328
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
4.35%
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%
$546,560
$546.6K
Cap Rate 7%
$390,400
$390.4K
Cap Rate 9%
$303,644
$303.6K
Market Conditions
NOI Build-Up for 1,380 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
$41.4K $30.00/SF
− Vacancy
−$2.4K −$1.71/SF
EGI
$39.0K $28.29/SF
− OpEx
−$11.7K −$8.49/SF
NOI
$27.3K $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%
$546,560
Cap Rate 7%
$390,400
Cap Rate 9%
$303,644
Alternative Uses
Best Use
Retail
$390.4K
$341.6K – $455.5K
NOI $27,328 @ 7.0% cap · market cap 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$912.4K
$798.4K – $1.06M
NOI $63,870 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
580
Businesses Nearby
9k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 80%
Dining 20%
Chase Bank
Shops & Services
5,576 visits/mo
0.1 miles
Webster Bank
Shops & Services
1,956 visits/mo
0.1 miles
Villagio
Dining
1,380 visits/mo
0.1 miles
Angelo's Pizza
Dining
468 visits/mo
0.2 miles
Demographics for 11552, NY
24,903
Population
7,736
Households
3.2
Avg Household Size
40
Median Age
47%
College-Educated
93%
High-School Grad
3.5 sq mi
ZIP Area
7,115
Density / Sq Mi
$153,192
Median Household Income
$58,371
Median Earnings
$3,185
Median Rent
$615,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Storefront property - Multi-room commercial space with additional lower-level area and access to major roads.
Where is this storefront property located?
The property is located at 288 Hempstead Avenue West Hempstead, NY.
What is the asking price?
The asking price for this property is $628,000.
What are key features of this property?
This property features: 1,380 SF storefront property; Full 1,380 SF basement; Multi‑room interior layout
