Mixed-Use Building in West
For Sale
$1,339,000
352 Hempstead Ave, West Hempstead, NY 11552
Four-unit mixed-use corner building with high visibility and income potential.
Property Size3,960 SF
Lot Size0.05 Acres
Days on Market164
Property Features for 352 Hempstead Ave
General Information
Standard status
Active
Size
3,960 SF
Lot size
0.05 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$26,986
Building Details
Building Size
3,960 SF
Year Built
1925
Stories
1
Units
3
Listing Agency:
Keller Williams Landmark II
(347) 846-1200
Listed By:
Afshin Termechi · License #40TE0981811
(347) 846-1200
Source:
Elliman
Added: Mar 10
Changed: Aug 7
Last Checked: Aug 20 at 8:56AM
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 Keller Williams Landmark II
Investment Insights
Based on property information with market context.
This mixed-use corner building is located in West Hempstead and features four units and a detached two-car garage. The property has over 20 feet of frontage on Hempstead Avenue, offering signage and exposure. It is equipped with 3-phase industrial electrical service at 300 amps. The first floor includes a store with a full basement, currently operating as a tattoo parlor, and a studio apartment. The second floor contains a two-bedroom apartment and a one-bedroom apartment. The detached two-car garage is also rented out. The property is zoned for flexibility, making it suitable for investors, developers, or end-users seeking a value-add opportunity or future redevelopment site. The gross annual rental income is $116,400, with annual expenses of $31,036.25. The building is located blocks from the West Hempstead and Hempstead Gardens LIRR stations and is surrounded by national retailers.
Key Highlights
- High Gross Annual Rental Income: $116,400 provides substantial cash flow.
- Prime Corner Location: Offers 20+ feet of frontage on high‑traffic Hempstead Avenue, ensuring excellent visibility and signage opportunities.
- Mixed‑Use Building: Features a diverse income stream from retail and residential units.
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
$78,420
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
5.86%
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%
$1,568,400
$1.6M
Cap Rate 7%
$1,120,286
$1.1M
Cap Rate 9%
$871,333
$871.3K
Market Conditions
NOI Build-Up for 3,960 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
$118.8K $30.00/SF
− Vacancy
−$6.8K −$1.71/SF
EGI
$112.0K $28.29/SF
− OpEx
−$33.6K −$8.49/SF
NOI
$78.4K $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%
$1,568,400
Cap Rate 7%
$1,120,286
Cap Rate 9%
$871,333
Alternative Uses
Best Use
Retail
$1.12M
$980.3K – $1.31M
NOI $78,420 @ 7.0% cap · market cap 5.86%
Second Best
Mixed Use
$780.7K
$683.1K – $910.8K
NOI $54,648 @ 7.0% cap · market cap 4.08%
Theoretical Best
Specialty Retail
$2.62M
$2.29M – $3.05M
NOI $183,279 @ 7.0% cap · market cap 13.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
566
Businesses Nearby
9k
Monthly Visits Nearby
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
0.1 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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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four-unit mixed-use corner building with high visibility and income potential.
Where is this mixed-use property located?
The property is located at 352 Hempstead Ave West Hempstead, NY.
What is the asking price?
The asking price for this property is $1,339,000.
What are key features of this property?
This property features: High Gross Annual Rental Income: $116,400 provides substantial cash flow.; Prime Corner Location: Offers 20+ feet of frontage on high‑traffic Hempstead Avenue, ensuring excellent visibility and signage opportunities.; Mixed‑Use Building: Features a diverse income stream from retail and residential units.
