Building Details

Building Size 4,706 SF

Listing Agency: OneSpace Realty Group LLC

Listed By: Roody Casseus Show Phone

Source: Nmgproperties

Added: Oct 9 Changed: Oct 30 Last Checked: Oct 30 at 1:48AM

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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 OneSpace Realty Group LLC

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Investment Insights

Based on property information with market context.

The 557 Hempstead Turnpike property is a paved, vacant commercial parcel with 55 feet of frontage on Hempstead Turnpike. Its corner position provides exposure on the north, east, and south sides, and the site has commercial zoning.

The parcel is offered as part of a package with the adjoining 555 Hempstead Turnpike property. The combined frontage for the two parcels is 100 feet. UBS Arena and Belmont Park are nearby.

Key Highlights

• Paved commercial parcel with 55 feet of Hempstead Turnpike frontage
• Corner site with exposure on its north, east, and south sides
• Offered with adjoining 555 Hempstead Turnpike; combined frontage is 100 feet

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$93,193

Cap Rate

4.84%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,863,860 $1.9M

Cap Rate 7%

$1,331,329 $1.3M

Cap Rate 9%

$1,035,478 $1.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,706 SF

Gross rent

$141.2K $30.00/SF

− Vacancy

−$8.0K −$1.71/SF

EGI

$133.1K $28.29/SF

− OpEx

−$39.9K −$8.49/SF

NOI

$93.2K $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 Rate 5%

$1,863,860

Cap Rate 7%

$1,331,329

Cap Rate 9%

$1,035,478

Alternative Uses

Best Use

Retail

$1.33M

$1.16M – $1.55M (±1% cap)

NOI $93,193 @ 7.0% cap · market cap 4.84%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$3.11M

$2.72M – $3.63M (±1% cap)

NOI $217,805 @ 7.0% cap · market cap 11.31%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Commercial land

Suggested Use

Top Pick Law Firm Real Estate Agency Dental Office Spa & Massage Center Skin Care Clinic Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

793

Businesses Nearby

301k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Home Improvements & Furnishings 22% Dining 21% Shops & Services 19% Superstores 19%

The Home Depot Home Improvements & Furnishings

66,804 visits/mo 0.3 miles

Target Superstores

57,008 visits/mo 0.2 miles

Marshalls Apparel

52,121 visits/mo 0.3 miles

Chipotle Mexican Grill Dining

19,782 visits/mo 0.2 miles

Exxon Shops & Services

16,971 visits/mo 0.1 miles

Demographics for 11003, NY

43,979

Population

12,641

Households

3.5

Avg Household Size

40

Median Age

33%

College-Educated

87%

High-School Grad

4.1 sq mi

ZIP Area

10,727

Density / Sq Mi

$123,000

Median Household Income

$53,302

Median Earnings

$2,315

Median Rent

$576,500

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Commercial land - Vacant, commercially zoned land occupies a corner position along Hempstead Turnpike.

Where is this commercial land located?

The property is located at 557 Hempstead Turnpike Elmont, NY.

What is the asking price?

The asking price for this property is $1,925,000.

What are key features of this property?

This property features: Paved commercial parcel with 55 feet of Hempstead Turnpike frontage; Corner site with exposure on its north, east, and south sides; Offered with adjoining 555 Hempstead Turnpike; combined frontage is 100 feet