Storefront Building With
New
For Sale
$2,560,000
444 HEMPSTEAD TPKE, West Hempstead, NY 11552
Two-level commercial property suited to retail or medical office use near established neighborhood shopping and services.
Property Size10,000 SF
Price / SF$256
Days on Market4
Property Features for 444 HEMPSTEAD TPKE
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Retail
Site & Location
Road Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$29,170
Amenities
Window/Wall Unit
3
Building Details
Year Built
1958
Buildings
1
Listing Agency:
Voro LLC
(877) 943-8676
Listed By:
Suping Wang · License #10401304979
(718) 710-3583
Source:
Xome
Added: Aug 31
Changed: Sep 2
Last Checked: Sep 2 at 1:05PM
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 Voro LLC
Investment Insights
Based on property information with market context.
This storefront commercial building provides 5,000 SF on the ground floor and an additional 5,000 SF in the basement. The property was built in 1958 and is identified for retail and medical office use, offering a two-level configuration for customer-facing operations, support functions, or storage.
The building fronts Hempstead Turnpike in West Hempstead and is served by the n6 bus line. Nearby commercial activity includes shopping centers, Cherry Valley Plaza, McDonald’s, restaurants, gas stations, and other neighborhood retail businesses.
The building fronts Hempstead Turnpike in West Hempstead and is served by the n6 bus line. Nearby commercial activity includes shopping centers, Cherry Valley Plaza, McDonald’s, restaurants, gas stations, and other neighborhood retail businesses.
Key Highlights
- 5,000 SF ground‑level storefront plus 5,000 SF basement
- Retail and medical office property configuration
- Located on Hempstead Turnpike in West Hempstead, NY
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
$198,030
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
7.74%
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%
$3,960,600
$4.0M
Cap Rate 7%
$2,829,000
$2.8M
Cap Rate 9%
$2,200,333
$2.2M
Market Conditions
NOI Build-Up for 10,000 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
$300.0K $30.00/SF
− Vacancy
−$17.1K −$1.71/SF
EGI
$282.9K $28.29/SF
− OpEx
−$84.9K −$8.49/SF
NOI
$198.0K $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%
$3,960,600
Cap Rate 7%
$2,829,000
Cap Rate 9%
$2,200,333
Alternative Uses
Best Use
Retail
$2.83M
$2.48M – $3.30M
NOI $198,030 @ 7.0% cap · market cap 7.74%
Second Best
Healthcare Medical
$2.51M
$2.19M – $2.92M
NOI $175,437 @ 7.0% cap · market cap 6.85%
Theoretical Best
Specialty Retail
$6.61M
$5.79M – $7.71M
NOI $462,825 @ 7.0% cap · market cap 18.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,379
Businesses Nearby
Under-served
Demand for This Use
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 Office in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Elena's Florist — 167 Hempstead Ave, West Hempstead, NY 11552
- Elena's Florist — 163 hempstead ave, west hempstead, ny 11552
- The iCraft Studio — 163 Hempstead Turnpike, West Hempstead, NY 11552
Frequently Asked Questions
What type of property is this?
Storefront property - Two-level commercial property suited to retail or medical office use near established neighborhood shopping and services.
Where is this storefront property located?
The property is located at 444 HEMPSTEAD TPKE West Hempstead, NY.
What is the asking price?
The asking price for this property is $2,560,000.
What are key features of this property?
This property features: 5,000 SF ground‑level storefront plus 5,000 SF basement; Retail and medical office property configuration; Located on Hempstead Turnpike in West Hempstead, NY
