Mixed-Use Corner
For Sale
$1,339,000
352 Hempstead Avenue, West Hempstead, NY 11552
Corner property combines a storefront, three apartments, and a detached garage along Hempstead Avenue.
Property Size3,960 SF
Days on Market348
Property Features for 352 Hempstead Avenue
General Information
Standard status
Active
Size
3,960 SF
Property subtype
Commercial
Additional Details
Gross Income
$116,400
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$26,986
Building Details
Building Size
3,960 SF
Year Built
1925
Buildings
2
Stories
2
Units
3
Tenancy
Multi
Listing Agency:
Keller Williams Landmark II
(347) 846-1200
Listed By:
Afshin Termechi · License #40TE0981811
(347) 846-1200
Source:
Maurafinnegan
Added: Sep 16, 2025
Changed: Aug 28
Last Checked: Aug 29 at 10:17AM
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.
Built in 1925, this mixed-use corner building includes a ground-floor storefront with a full basement, a studio apartment, and two second-floor apartments consisting of one two-bedroom unit and one one-bedroom unit. A detached 2-car garage adds separate utility, while the property’s 3-phase industrial electrical service provides 300 amps. The storefront may be delivered vacant.
The building fronts Hempstead Avenue with more than 20 feet of frontage and dedicated signage exposure. West Hempstead and Hempstead Gardens LIRR stations are located just blocks away, and national retailers surround the corridor. The configuration supports a combination of commercial, residential, and accessory garage uses within a single property.
The building fronts Hempstead Avenue with more than 20 feet of frontage and dedicated signage exposure. West Hempstead and Hempstead Gardens LIRR stations are located just blocks away, and national retailers surround the corridor. The configuration supports a combination of commercial, residential, and accessory garage uses within a single property.
Key Highlights
- Mixed‑use building with a storefront, studio apartment, 2‑bedroom apartment, and 1‑bedroom apartment
- 20+ feet of frontage on Hempstead Avenue
- 3‑phase industrial electrical service with 300 amps
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
Multifamily LT 5
$1.08M
$943.0K – $1.26M
NOI $75,443 @ 7.0% cap · market cap 5.63%
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
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
566
Businesses Nearby
Explore this area
Business Placement
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner property combines a storefront, three apartments, and a detached garage along Hempstead Avenue.
Where is this mixed-use property located?
The property is located at 352 Hempstead Avenue 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: Mixed‑use building with a storefront, studio apartment, 2‑bedroom apartment, and 1‑bedroom apartment; 20+ feet of frontage on Hempstead Avenue; 3‑phase industrial electrical service with 300 amps
