Retail Space on Commercial
For Sale
Contact for pricing
3145-3151 Hempstead Turnpike, Levittown, NY 11756
Established retail property with access to major regional roadways and a substantial surrounding consumer base.
Property Size8,000 SF
Price / SF$537.50
Days on Market63
Property Features for 3145-3151 Hempstead Turnpike
General Information
Standard status
Active
Size
8,000 SF
Total Parking Spaces
20
Property subtype
Retail
Zoning
Retail
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$212,221
Additional Details
Highway Access
Yes
Building Details
Year Built
1961
Buildings
2
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
WORTH PROPERTY MANAGEMENT, INC
(516) 489-1341
Listed By:
Keith Senko · License #NY 10401287919
Source:
Crexi
Added: Jul 1
Changed: Aug 29
Last Checked: Aug 29 at 3:46PM
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 WORTH PROPERTY MANAGEMENT, INC
Investment Insights
Based on property information with market context.
This 8,000-square-foot retail space at 3145-3151 Hempstead Turnpike in Levittown was built in 1961 and carries Retail zoning. The property occupies a position along Hempstead Turnpike, the community’s primary commercial corridor, where the surrounding retail mix includes national, regional, and local operators.
Hempstead Turnpike carries approximately ±40,000-50,000 vehicles per day and connects with Wantagh Parkway and the Seaford-Oyster Bay Expressway (NY-135). The location also provides access to employment centers in Hicksville, East Meadow, Bethpage, and the Route 110 business district. The surrounding trade area includes roughly 52,000 residents, with more than 250,000 people within a short drive.
Hempstead Turnpike carries approximately ±40,000-50,000 vehicles per day and connects with Wantagh Parkway and the Seaford-Oyster Bay Expressway (NY-135). The location also provides access to employment centers in Hicksville, East Meadow, Bethpage, and the Route 110 business district. The surrounding trade area includes roughly 52,000 residents, with more than 250,000 people within a short drive.
Key Highlights
- 8,000‑square‑foot retail space at 3145‑3151 Hempstead Turnpike
- Retail zoning
- Built in 1961
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
$158,424
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
3.68%
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%
$3,168,480
$3.2M
Cap Rate 7%
$2,263,200
$2.3M
Cap Rate 9%
$1,760,267
$1.8M
Market Conditions
NOI Build-Up for 8,000 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
$240.0K $30.00/SF
− Vacancy
−$13.7K −$1.71/SF
EGI
$226.3K $28.29/SF
− OpEx
−$67.9K −$8.49/SF
NOI
$158.4K $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%
$3,168,480
Cap Rate 7%
$2,263,200
Cap Rate 9%
$1,760,267
Alternative Uses
Best Use
Retail
$2.26M
$1.98M – $2.64M
NOI $158,424 @ 7.0% cap · market cap 3.68%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.29M
$4.63M – $6.17M
NOI $370,260 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,205
Businesses Nearby
284k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 24%
Groceries 22%
Dining 20%
Shops & Services 15%
Walmart Neighborhood Market
Groceries
63,036 visits/mo
0.3 miles
The Home Depot
Home Improvements & Furnishings
61,921 visits/mo
0.4 miles
Miller's Ale House
Dining
19,676 visits/mo
0.3 miles
P.C. Richard & Son
Electronics
17,341 visits/mo
0.3 miles
IHOP
Dining
15,773 visits/mo
0.5 miles
Demographics for 11756, NY
42,501
Population
14,169
Households
3
Avg Household Size
42
Median Age
37%
College-Educated
94%
High-School Grad
5.5 sq mi
ZIP Area
7,727
Density / Sq Mi
$139,901
Median Household Income
$59,471
Median Earnings
$2,361
Median Rent
$557,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Established retail property with access to major regional roadways and a substantial surrounding consumer base.
Where is this retail space located?
The property is located at 3145-3151 Hempstead Turnpike Levittown, NY.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: 8,000‑square‑foot retail space at 3145‑3151 Hempstead Turnpike; Retail zoning; Built in 1961
