Mixed-Use Property with
For Sale
$2,390,000
433 Atlantic Avenue, Hempstead, NY 11572
Three structures combine residential homes with a commercial warehouse and garage component.
Property Size6,886 SF
Price / SF$347.08
Days on Market172
Property Features for 433 Atlantic Avenue
General Information
Standard status
Active
Size
6,886 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$58,514
Amenities
Window/Wall Unit
3
Parking. Corner Lot.
Driveway, Lot.
Level
Corner, Level.
Building Details
Year Built
1935
Listing Agency:
NY Space Finders Inc
(516) 385-7725
Listed By:
Nicholas Evangelista · License #10401378306
(516) 385-7725
Source:
Xome
Added: Mar 12
Changed: Aug 30
Last Checked: Aug 30 at 6:58AM
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 NY Space Finders Inc
Investment Insights
Based on property information with market context.
This mixed-use property includes three separate structures on a 0.47-acre parcel: two two-family residential homes and a commercial warehouse/garage. The improvements provide a combination of residential and commercial space within one holding, with additional parking and a level lot configuration.
The property extends over 150 feet along Atlantic Avenue and includes four curb cuts. Its corner position at a signalized three-way intersection supports direct vehicular access and prominent street exposure. The site was developed in 1935 and includes window or wall unit features.
The property extends over 150 feet along Atlantic Avenue and includes four curb cuts. Its corner position at a signalized three-way intersection supports direct vehicular access and prominent street exposure. The site was developed in 1935 and includes window or wall unit features.
Key Highlights
- 0.47‑acre mixed‑use property with three separate structures
- Two two‑family residential homes included
- Commercial warehouse/garage structure on site
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
$131,187
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
5.49%
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%
$2,623,740
$2.6M
Cap Rate 7%
$1,874,100
$1.9M
Cap Rate 9%
$1,457,633
$1.5M
Market Conditions
NOI Build-Up for 6,886 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
$198.3K $28.80/SF
− Vacancy
−$10.9K −$1.58/SF
EGI
$187.4K $27.22/SF
− OpEx
−$56.2K −$8.16/SF
NOI
$131.2K $19.05/SF
Area
Nassau County, NY
Vacancy
5.50%
Lease Rate
$28.80 /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%
$2,623,740
Cap Rate 7%
$1,874,100
Cap Rate 9%
$1,457,633
Alternative Uses
Best Use
Multifamily LT 5
$1.87M
$1.64M – $2.19M
NOI $131,187 @ 7.0% cap · market cap 5.49%
Second Best
Apartment 5plus
$1.75M
$1.54M – $2.05M
NOI $122,829 @ 7.0% cap · market cap 5.14%
Theoretical Best
Specialty Retail
$4.55M
$3.98M – $5.31M
NOI $318,701 @ 7.0% cap · market cap 13.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
877
Businesses Nearby
Explore this area
Business Placement
Demographics for 11572, NY
31,157
Population
10,811
Households
2.9
Avg Household Size
44
Median Age
48%
College-Educated
94%
High-School Grad
4.8 sq mi
ZIP Area
6,491
Density / Sq Mi
$144,419
Median Household Income
$61,627
Median Earnings
$2,118
Median Rent
$627,300
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three structures combine residential homes with a commercial warehouse and garage component.
Where is this mixed-use property located?
The property is located at 433 Atlantic Avenue Hempstead, NY.
What is the asking price?
The asking price for this property is $2,390,000.
What are key features of this property?
This property features: 0.47‑acre mixed‑use property with three separate structures; Two two‑family residential homes included; Commercial warehouse/garage structure on site
